Enticing prices and burgeoning men’s and international businesses pushed Coach Inc. to a 14.5 percent jump in second-quarter income, driving shares of the New York-based handbag maker up 5.8 percent to $67.97 Tuesday.
“There has been a structural shift in spending over the last decade, where women are spending more on accessories,” said chairman and chief executive officer Lew Frankfort, explaining that the category has grabbed share from apparel and grown 5 percent to 10 percent over the last year.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)