Coach profits drive up in China_美文_趣味英语-查字典英语网

Coach profits drive up in China

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Coach Inc, the New York-based fashion brand, experienced a 25 percent year-on-year sales growth in China in the quarter that ended on Dec 28, while its sales in North America decreased by 9 percent.

The brand's total sales were $1.42 billion for the second fiscal quarter of 2013, a 6 percent decrease from the same period in 2017, according to Coach's earning reports released on Wednesday.

For the six months that ended on Dec 28, Coach's net sales were $2.57 billion, 4 percent down from the first six months of fiscal 2013, according to the report.

The sales drop was attributed to weakness in the North American market.

"We continue to be disappointed by our performance in North America, which was affected by substantially lower traffic in our stores and by our decision to limit access to our e-factory flash sales site," said Victor Luis, chief executive of Coach.

But the China market's result is considered satisfying because comparable store sales rose at a double-digit rate during the period, Luis said.

The company set an annual guidance of $530 million sales in China for the whole fiscal year of 2013. Business looked to be on track to meet that target, it said in the announcement.