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Coach CEO talks comeback efforts after earnings beat

Coach CEO Victor Luis said that the company is pushing a comeback by trying to stand out from the competition.

In a CNBC "Closing Bell" interview, Luis said the company has made progress by updating its stores and reducing promotions. His comments came after Coach beat quarterly earnings expectations.

"One of the most important steps that we took was the reduction of our flash sales. We reduced that by approximately $300 million," Luis said. "That's a step that we took two years ago that some of our competitors now talk about."

Victor Luis, chief executive officer of Coach Inc
Michael Nagle | Bloomberg | Getty Images
Victor Luis, chief executive officer of Coach Inc

Coach released its fourth-quarter and full-year results Tuesday, reporting earnings of 45 cents per share versus estimates of 41 cents per share.

The company missed revenue estimates, reporting sales of $1.15 billion versus estimates of $1.17 billion.

Coach's North American same-store sales increased 2 percent.

The luxury accessory company will no longer sell items in about a quarter of wholesale locations like Macy's and Lord & Taylor. Although the company is becoming more exclusive, Luis said that Coach is "much more approachable" than its competitors.

"It's about elevating the brand and making it more emotional and more attractive to the consumers," Luis said. "We've been on a two-year journey to do just that."

Luis said Coach will have renovated about 730 locations by the end of the fiscal year. He also noted that North America represents 5 percent of Coach's global business.

"This isn't necessarily about us leaving that channel; this is about us focusing our resources in the most important doors," Luis said.