Coach COH Investors fake ray bans Lower Expectations as U
Shares of retailer Coach (NYSE: COH) declined sharply on Wednesday after it released disappointing Q2 results that fell well short of Wall Street expectations. Management expressed confidence in their ability to address near term challenges in North America, but wholesale ray bans based on the results it was obvious a reset of expectations was in order.
Coach reported revenue of $1.5 billion compared to revenue of $1.45 billion last year. This was an increase of 4 percent wholesale oakleys year over year but was below Wall Street estimates that called for revenue of $1.6 billion.
North American comps fell 2 percent versus an expected 2.3 percent rise.
Analysts lambasted the company following the results. Deutsche Banked noted that Coach posted the worst 2Y stacked comp since the September 2010 quarter and 2H2009 before that. They said a competitive holiday environment "clearly impacted unit sell through."
Beyond the quarterly numbers, the release "may raise bigger questions with investors about discretionary spending broadly and perhaps on accessories, specifically," the analyst said. "As Coach called out an increasingly intense competitive environment in women TMs handbags in North America, which many will read, primarily, as from Michael Kors (NASDAQ: KORS) the bigger question may arise as to how well accessories, from an industry perspective, are trending relative to apparel and other key cheap wholesale ray ban sunglasses categories."