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Coach Inc. (NYSE:COH): Current price $51.74
North American direct sales rose 2% for the quarter with comparable store sales down 2%. At point of sale, sales in North American department stores were modestly below their prior year levels while shipments into this channel declined. International sales increased 12% to $411 million. Chinese results continued very strong, with total sales growing 40% and comparable store sales rising at a double-digit rate. Shipments into the international wholesale accounts declined modestly, while underlying POS sales trends remained robust. In Japan, sales declined 2% on a constant-currency basis while dollar sales were 7% below the prior year, reflecting the weaker yen.