Coach Inc. is moving on up, along with its prices.
“Significant” changes in its pricing model at outlet stores and growth in the China business lifted Coach’s third-quarter profit 21 percent. But Wall Street was miffed by the vendor’s tweaked strategy and acknowledgment that its North America business slowed a bit, due partially to softness in department store sales, causing shares of Coach to fall 4.3 percent to $71.87 at the end of trading Tuesday.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"