Bags of competition drags down coach sales

LUXURY handbag seller Coach said yesterday sales in North America fell further in the final quarter of 2013, as it loses share to fast-growing rivals such as Michael Kors Holdings and Kate Spade. North American sales fell nine per cent to $983m (£592.9m) in the quarter to 28 December – the third quarter in a row that Coach has reported a fall in sales at North American stores open for more than a year, including online sales.