By  on October 25, 2011

Lew Frankfort, chairman and chief executive officer of Coach Inc., said spendthrift shoppers are turning to accessories to keep their style current — a dynamic that pushed the handbag maker to a better-than-expected 13.8 percent gain in first-quarter profits.

“The handbag and accessories category is vibrant,” Frankfort told WWD. “Consumers are shifting from apparel to handbags to update their wardrobes.”

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