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Strategies & Market Trends : Technical analysis for shorts & longs

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Nov 19 4:00 PM EST

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To: Johnny Canuck who wrote (49102)	1/23/2013 1:37:59 PM
From: Johnny Canuck	Read Replies (1) of 68130

Coach Q2 Earnings Miss On 'Challenging' Holiday Sales Wed, Jan 23 2013 00:00:00 E 00_WEB By Gillian Rich, Investor's Business Daily Posted 12:29 PM ET Email Print License Comment inShare. Coach (COH) shares tumbled 15% Wednesday after the luxury handbag maker reported second-quarter results less than analyst estimates on "challenging" holiday sales. The high-end brand, known for its "C" pattern, said Q2 earnings rose 23% to $1.23 cents per share. Analysts were expecting $1.28. Sales climbed 3% to $1.5 billion, less than estimates of $1.6 billion. U.S. same-store sales, or sales in stores open at least a year, fell 2%. Coach has only posted three quarterly same-store sales decreases in 11 years. AP View Enlarged Image "We were disappointed by our performance in North America, where the holiday season proved challenging," CEO Lew Frankfort said. Frankfort also cited increased competition in the women's handbag market as a reason for the poor holiday quarter. Retailers struggled generally during the holiday season as consumers were concerned with tax hikes related to the fiscal cliff. Sales rose 3.1% according to the National Retail Federation, below forecasts. Still other luxury brands are doing well despite economic concerns. Shares of Michael Kors (KORS), Ralph Lauren (RL) and Vera Bradley (VRA) were modestly lower. China was the lone bright spot for Coach. Total sales soared 40% in the world's most populous country and same-store sales rose at double-digit rates. The company expects China to "generate at least $400 million in sales this year." The company is also expecting growth in it men's department, which is expected to generate more than $600 million in sales during 2013, up nearly 50% from 2012 levels. Read More At IBD: news.investors.com

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