Coach Is Closing 70 Full Price Stores

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#46
Wow. I am going to check with my local coach and see how they are doing. I honesy have not bought anything new purses from coach in years. I bought a new legacy bag and the Anna sui dragonfly and before that it was a few years. I love the 65th anni bags, just bought my first one off of eBay and plan on buying more. With that being said, I have no interest in Michael Kors, he copies a lot and Kate spade is alright, just not my thing.
 
#47
I listened to their conference call today. Total disaster. They have a very snippy lady moderating the call and she was offensive. The info they gave was very pathetic. They are closing a ton of stores, they will spend a ton of money... Tons of buzzwords...they better get this right or frankly they will not be around, which is sad. It's like they are driving a car into a wall....
 
#48
I hope they can turn things around. I love my Coach bags.

Never understand why those in charge can't step back and see what's wrong, the folks here know the issues. What's that show where the owner goes out to a couple of their locations and checks things out first hand...customer treatment, staff concerns, business overall, competition...
 
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#49
ltbag said:
They plan on cutting way back on FOS too. From today's Wall Street Journal:

"As part of its plan to reduce promotions, Coach said it is retooling its online outlet store "flash" sales, where products are offered at discounts in sessions that can last just hours. Starting in the first quarter of the new year, Coach said it plans to scale back its flash sale events to under three a month, versus a current average of about three a week. It also plans to lower the number of emails sent out tied to the promotions to about 200 million next year from just over 1 billion in the current year."
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So am I understanding this right? Less emails so less people invited to the sale? As for going to 3 sales a month, maybe I'll finally get some sleep. Course I'll get a lot more if I'm one of the emails deleted...
 
#51
Oneforme said:
So am I understanding this right? Less emails so less people invited to the sale? As for going to 3 sales a month, maybe I'll finally get some sleep. Course I'll get a lot more if I'm one of the emails deleted...
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Less people will be invited and there will be way less number of sales (3 a month instead of 3 a week).

My guess is that they will rotate who is invited so that people get invited to one sale a month or less.
 
#53
crazyforcoach09 said:
I really think Coach folk smokin somethin
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I totally agree cfc. They are cutting off ALL their current sources of income and gambling that a large number of people will like their new, full price line.

Very very unlikely they will build enough market share to replace the market share they lose but eliminating deletes and most FOS sales.

70 stores closing is a massive retrenching as well. It will take them a long time to regain presence in the markets they are retreating from.

Sounds like a company that is in a tailspin to me.
 
#54
Coconut lover said:
I hope they can turn things around. I love my Coach bags.

Never understand why those in charge can't step back and see what's wrong, the folks here know the issues. What's that show where the owner goes out to a couple of their locations and checks things out first hand...customer treatment, staff concerns, business overall, competition...
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Yes, I love that show and all CEOs of all companies should do that. It's called Undercover Boss. They could use that in the LV Stores, it's almost like there is a secret challenge among the SA's to see who can be ruder to the customers as they walk in. With that being said, I will say that I have always been greeted warmly by the SA's at Coach and they always give you alot of attention. Of course that's because the store in our mall is empty and everyone else is down at Macys buying the same bags on the F&F Sale. It's so sad, I feel horrible for all the people losing their jobs.

They make an outstanding product, hopefully the people at the helm can turn things around with their new vision of the company.
 
#56
ltbag said:
Less people will be invited and there will be way less number of sales (3 a month instead of 3 a week).

My guess is that they will rotate who is invited so that people get invited to one sale a month or less.
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I may not like that but my husband and my wallet will be relieved. Better get while the gettins good!
 
#60
pslpursemom said:
It's hard to compete with Dillards'
and Macys' sales
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I talked to the Coach specialist in a Macy's flagship store yesterday. Commencing in July - after the semi-annual Coach sale (incidentally, Macy's will run 25% off of all full price Coach until the end of the month, probably through the 4th of July weekend) - Per the Coach vendor rep - from then on out Macy's has agreed to follow Coach request that they only put Coach on sale to coincide with Coach sales. Apparently all department stores will do the same. She said it wasn't simply a "request" - but that Macy's had to sign an agreement. Maybe Coach is trying to move out of department stores again? I doubt any department store can afford to sit on stock until Coach permits them to put it on sale.
 
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