Kate Spade Announces Q1 Sales

Kate Spade (New York) released its first quarter sales for 2017, reporting a 2.4 decline in same-store sales.

According to Bloomberg, the decline is the retailer’s first sales drop in eight years. Competitors Coach (New York)m and Michael Kors Holdings Ltd. (New York) are reportedly interested in acquiring Kate Spade, and the poor sales numbers could impact such a sale.  

Kate Spade is attempting to increase sales by introducing personalized services, home goods, apparel and new bag designs. It has also shifted focus to standalone stores after department stores’ discounts on products have thought to diminish the brand.