Headlines

Coach to Close 70 U.S. Stores

Also plans outlet revamp

Published

10 years ago

June 20, 2014

Sarah Whitman

As part of a restructuring of its North America business, Coach Inc. (New York) plans to close 70 full-price Coach stores and revamp its outlet store business, according to Women’s Wear Daily.

The news comes as the company projects fiscal 2015 revenue declines, which caused the company’s stock to fall.

The company is planning to shutter 70 underperforming North American sites, with the closures expected to be finalized by the first half of the 2015 fiscal year.

“The overarching objective is to change brand perception from accessible luxury to modern luxury,” Francine Della Badia, president of North America retail, told WWD.

Coach also plans to close two existing outlet stores, and open 10 dual-gender locations. In addition, 13 men’s stores will be consolidated into existing women’s stores. The company’s goal for its outlet concept is to increase the relevance of its factory product.

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