Coach sees weakness in North America

|By:, SA News Editor

Coach (COH) reports sales fell during its FQ2 as it experienced weakness in its women bags and accessories business in North America.

Revenue breakdown: North America -9% to $983M; International +2% to $425M.

The retailer saw strong growth in China during the period with comparable sales growing at a double-digit clip during the period.

Gross margin as a percentage of sales fell 300 bps to 69.2% in FQ2.

COH -7.7% premarket