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Coach misses on holiday sales

The high-end handbag maker said Q2 EPS rose 23% to $1.23, missing views by 5 cents. Sales climbed 3% to $1.5 bil, less than estimates for $1.6 bil. U.S. same-store sales fell 2%. Coach (COH) has only posted 3 quarterly same-store sales decreases in 11 years. Total sales in China soared 40% in the country, and same-store sales rose at double-digit rates. The company expects China to "generate at least $400 million in sales this year." Shares dropped 16.4% .