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Kate Spade New York announces new brand, new store
New York -- Kate Spade New York said Tuesday it is unveiling a new apparel and accessories brand, Kate Spade Saturday, which will officially launch in Japan in February 2013 through e-commerce at Saturday.jp and a flagship store in Tokyo.
The company said the brand, which is based on the spirit of Saturday seven days a week, is expected to launch exclusively online at www.saturday.com in the U.S. in spring 2013. A selection of product from the spring 2013 launch collection will be sold on fab.com prior to the U.S. launch.
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Coach exceeds profit expectations for Q1
New York -- Coach Inc. reported Tuesday that profit for the quarter ended Sept. 29 rose 3% to $221.4 million, compared with $215 million for the same period last year and beating Wall Street expectations.
Sales surged 11% to $1.16 billion, in line with forecasts, and same-store sales in North America rose 11%, bolstering the luxury retailer’s results for the quarter. In China, same-store sales also rose by double-digits.