Coach Profit Falls 1.6% as Store Sales Sink

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Oct. 22 (Bloomberg) -- Coach, the largest U.S. luxury handbag maker, said fiscal first-quarter profit fell 1.6 percent as stiffer competition curtailed handbag sales in North America. Julie Hyman reports on Bloomberg Television's "In The Loop." (Source: Bloomberg)

It seems as though they are buying stuff from their competitors.

It has lost some of its cool factor, it is not helped by the fact that people are buying thora birch, -- tori burch, kors,kate spade.

Even though some of its international businesses are doing better, china -- in north america, where he sees higher margins, it has been flagging.

Its stock has been flagging versus the market and versus some of its competitors.

If you look at its annual sales growth versus kors, tori burch is private.

Apples to apples, the growth is much lower -- and the single digits versus double-digit growth for kors.

Kors is a younger brand, as well.

It has more room to grow.

Coach is trying to catch up.

What is the company doing, how are they going to turn around?

A lot of changes.

The company has announced that lew frankfort, the longtime ceo, will be stepping down.

An internal higher will be stepping up as of january.

Luis related emphasize the future, he said that they are confident, knowing that this is a multiyear journey that ensures brand of vibrancy and long-term growth.

They just hired stuart vivers, the creative director to revive those handbags and make them more relevant.

Coach is expanding its offering, footwear, to become more of a lifestyle brand and compete with other companies.

Thank you, julie hyman.

Moving and shaking this hour.

Warren buffett of -- is berkshire hath light once again the favorite stock of north america.

Tiger 21, a group of wealthy investors, released their survey of preferred investments.

Berkshire claimed the top spot, apple was number one the last two years and has been pushed down.

Shares of berkshire hathaway are up this year.

Berkshire was number three in last year's rankings.

We will see what buffett thinks.

We have a special interview, i

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