January 22, 2014 / 12:10 PM / in 4 years

Coach comparable sales in North America slump 13.6 percent

Jan 22 (Reuters) - Coach Inc said comparable sales in North America fell 13.6 percent in the final quarter of 2013, the latest sign it is losing share in the handbag market to fast-growing rivals such as Michael Kors Holdings Ltd and kate spade.

Overall revenue fell 5.6 percent to $1.42 billion in the second quarter ended Dec. 28.

Net income fell to $297.4 million, or $1.06 per share, from $352.8 million, or $1.23 per share, a year earlier.

Coach shares fell 7.7 percent in premarket trading. (Reporting by Aditi Shrivastava and Phil Wahba; Editing by Ted Kerr)

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