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Coach Q1 profits down on weak U.S. sales
New York -- Coach reported a decline in first-quarter profit amid declining North America sales. The company had net income of $217.88 million, down from $221.38 million in the previous year.
Net sales for the quarter fell 1% to $1.15 billion from $1.16 billion a year ago, below analysts' estimate of $1.19 billion.
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Deloitte: Holiday season looks bright, especially online
New York – Despite many forecasts of a gloomy holiday season for retailers, Deloitte is predicting an increase in consumer spending. Deloitte's 28th annual survey of holiday spending intentions and trends indicates shoppers surveyed plan to spend an average of $421 on holiday gifts this year, up from $386 last year. They also expect to buy an average of 12.9 gifts, ending a five-year decline in the number of gifts they plan to purchase.