BoF has learned that leather goods giant Coach has eliminated more than 150 jobs as part of its efforts to restructure and reinvigorate the brand amidst sluggish sales in recent quarters.
April 29 (Bloomberg) -- Coach Inc., the largest U.S. luxury handbag maker, fell in early trading after posting third-quarter sales at its established North American stores that plunged 21 percent amid increased competition and bad weather.
The sales decline at stores open at least a year in the quarter ended March 29 was steeper than the 15 percent slide analysts projected and worse than the 14 percent drop during the
Michael Kors Brand Takes on Coach in U.S. Luxury Market (Bloomberg) “Coach Inc. faces an upstart with momentum and brand recognition. His name is Michael Kors. Since the designer’s company went public three months ago, his ambitions have become clear.” Ferragamo eyes growth after profits beat forecasts (Reuters) “Italian luxury shoemaker Salvatore Ferragamo is expecting ‘significant growth’ in 2012