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Sales at Coach slip 1%

Accessories brand Coach has reported a 1% slip in sales to $1.15bn (£712m) for the three months to September 28.

For the quarter, operating profit totalled $322m (£199m), down 3% year-on-year, while operating margin was 27.9% versus 28.6% reported for the prior year. 

During the three months, gross profit declined 2% to $827m (£512m) from $845m (£523m) in 2012.

Lew Frankfort, chairman and chief executive of Coach, said: “We continued to drive excellent growth in emerging markets and Europe as well as in the men’s business and developing lifestyle categories, such as footwear. Importantly, we moved forward with our transformation initiatives across all consumer touch points - product, store environments and marketing - focused on addressing the competitive handbag and accessories category in North America.”   

Total US sales decreased 1%, to $778m (£481m) from $784m (£485m) last year. International sales dropped to $365m (£226m) from $367m (£227m) in 2012, however sales in China increased 35% year on year.

Coach has stores on New Bond Street, Regent Street, Bichester Village and Westfield London. It is also stocked in Harrods, Bentalls in Kingston and Fenwick in Canterbury.

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