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Coach slumps in North America in Q1

  • Coach (COH) reports sales in North America fell 18% to $648M in FQ3.
  • Comparable store sales fell 21% in the region as traffic declined sharply and the company cut back on online access to its factory flash site.
  • Operating margin fell 540 bps to 23.9% due to the volume decline.
  • COH -4.8% AH
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