Coach net sales decrease of 7 per cent

Coach, a leading design house of modern luxury accessories and lifestyle collections announced a decrease of 7 per cent in net sales for its fourth fiscal quarter ended June 28, 2014 that remained of US $ 1.14 billion compared with US $ 1.22 billion reported in the same period of the prior year. On a constant currency basis, total sales declined 6 per cent for the period. Net income for the quarter totaled US $ 164 million. Victor Luis, CEO, Coach Inc. said, “The fourth quarter capped a challenging year for the company, most notably in the North America women’s bag and accessory business. However, it was also a year of many accomplishments for Coach, including the successful integration of our retail businesses in Europe, surpassing US $ 500 million in sales in China, and driving Men’s to about US $ 700 million in sales globally. Most importantly, we laid the groundwork for our brand transformation.”