Management shake-up at ambitious Coach
30/07/2013
For the fiscal year, sales rose 7% to $5.1 billion while net income increased 3% to $1.1 billion.
During the fourth quarter, the company opened three stores in North America (although it closed four) as well as two factory stores; eight stores in China; seven in Japan; and took control of 18 locations in the UK, Spain, Ireland, Portugal, France and Germany.
The company also announced that Mike Tucci, president of the North American Group, and Jerry Stritzke, president and chief operating officer, will depart at the end of August, to be replaced internally in a management shake-up.
Chief commercial officer Victor Luis said: "We're confident this new organisational structure - with an intensified focus on our North American business - will successfully drive Coach's transformation strategy."
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