Pursuits
Coach Profit Falls 1.6% as North American Sales Sink
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Coach Inc., 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.
Net income in the three months ended Sept. 28 dropped to $217.9 million, or 77 cents a share, from $221.4 million, or 77 cents, a year earlier, New York-based Coach said today in a statement. The average of 30 analysts’ estimates compiled by Bloomberg was 76 cents.