Coach cuts costs but loses market share in FQ1

|By:, SA News Editor

Coach (COH) reports sales in North America decreased 1% during its FQ1 to $778M, with comparable store sales falling 6.8%.

International sales fell slightly to $365M, although both China and Japan saw strong growth rates.

Cost controls helped Coach reel in the bottom line beat, but the negative comp growth in North America is indicative of  more market share loss to Michael Kors and other rivals.

COH -4.0% premarket.