January 23, 2013 at 12:29 PM EST
Coach Q2 Earnings Miss On 'Challenging' Holiday Sales
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
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