Coach shares slid 7 percent premarket Wednesday after the luxury retailer said its second-quarter holiday sales fell 6 percent to $1.42 billion from $1.50 billion.
"We continued to be disappointed by our performance in North America, which was impacted by substantially lower traffic in our stores," said CEO Victor Luis.
The firm reported net income of $297.44 million, or $1.06 per share, compared with $352.76 million, or $1.23 per share a year earlier.
One bright spot was its results in China, where total sales grew 25%.
This article originally appeared on MarketWatch.com.
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