China still the star for Coach
Sales in stores in North America were 6.1% down, while the drop in Japanese stores was 4%. However, the company said demand in China was very strong, with same-store sales there rising at a double-digit rate.
Chief executive, Lew Frankfort, told Reuters: “It’s early days for our new quarter, but four weeks into it, we definitely see a sequential improvement in traffic.” But he predicted that consumers in many markets would remain cautious for the rest of this year.