By  on October 21, 2008

“No social or economic class is immune from this crisis,” said Lew Frankfort, chairman and chief executive of Coach Inc. “The consumer is fragile. She’s worried about her future. She’s worried about her security. She’s visiting malls and retail stores less frequently.”

And Coach, the brand that helped define the term “accessible luxury,” is feeling the pinch, posting on Tuesday a 5.8 percent drop in first-quarter net income on an 11.2 percent rise in sales. It also lowered its sales forecast for the year.

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