Originally published at www.seclive.com
Coach, Inc. (NYSE:COH) announced its financial results for the second fiscal quarter of 2014, reporting an earnings decline of 16% from a year ago. The company's overall performance was weighed down by its 9% sales decline in North America to $983M. The handbag and accessories retailer has continued to face challenges in North America but has seen strong growth internationally. Coach sales in China grew 25%, while its overall international sales grew 11% to $425M. The company's earnings declined from $352.8M and $1.23 per share a year ago to $297.4M and $1.06 per share this quarter. Revenue fell 5.6% to $1.42B, falling just short of analyst estimates of $1.48B. Coach is currently in an upper management transition, with Victor Luis now as CEO, replacing Lew Frankfort.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.