Coach Profits Plummeting

Coach Inc. sales are plunging due to handbag shoppers taking their foot traffic and dollars to Micheal Kors and other rivals. The company targets mostly upper middle class and the high class populations with its $600 handbags. Coach said profits fell 20% amid a steep drop in sales in North America. Sales will continue to fall through the rest of the year, the company said. The company is trying to expand its products by producing more lifestyle items like clothing and accessories vs. just handbags. Coach rivals include Vera Bradley, Kate Spade, Micheal Kors, and Tommy Hilfiger. 

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