We may just have started summer, but it seems like store closing season in the real estate game, with some major names retrenching.
Facing an onslaught of better and designer accessories designers including the surging Michael Kors, Coach has announced at its Analyst and Investor Day that it will close 70 of it 350 stores in North America by early next year, and possibly more going forward.
“The landscape has shifted dramatically and is populated with new players and new dynamics,” said Victor Luis, CEO. “We have now reached a unique moment in our brand. We have to transform the Coach brand, and we have to be bold.”
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