NEW YORK — Coach’s stock took an 18.6 percent hit, as slumping demand at its North American factory stores sent speculation swirling that consumers were either feeling the economic pinch at last, or the brand was being squeezed by increased competition in the U.S.
Coach’s shares fell to $49.33 Tuesday, after the handbag and accessories maker missed Wall Street’s fourth-quarter sales projections. Lew Frankfort, chairman and chief executive officer of Coach, attributed the rare sales miss to a “softened” U.S. economic backdrop, despite internal research that consumer brand loyalty remained strong.
Steve Aoki held a presentation, a runway show and outdoor concert for his men's line Dim Mak. Here's a look from his spring 2018 collection, which was titled "Paradise Found." #wwdfashion #wwdmens (📷: George Chinsee)
"It's really hard sometimes. I think I have a reputation for being really tough and aggressive and pushy but I really am a very shy person who wants to be liked, and that's the conflict constantly. There's something that takes hold - I want people to like me, I don't want to be mean - but if I see something that just cries out to be answered, I go for it," says renowned NBC News correspondent Andrea Mitchell. (📷: @axeldupeux)