Coach CEO Sees 'tremendous Variability In' Asia Sales
Coach Inc. Chief Executive Victor Luis said on a call Tuesday the upscale handbag maker has seen "tremendous variability" in sales performance in Asia. He said Coach had to close some stores during the student demonstrations in Hong Kong but said the "biggest impact" is in the decline in the number of Chinese tourists going to Hong Kong. He said tourist traffic also declined in Malaysia, hurt by the two incidents involving Malaysia Airlines flights. Still, he said Asia business "is very resilient." The company also kept its target of China sales rising to $600 million this year.
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