Tapestry, Inc.

Despite a volatile global retail environment, Coach increased sales and profits for its fiscal second quarter.   The luxury handbag and accessories retailer reported revenue of $1.32 billion for the quarter ended December 31, 2016, up 4% from $1.27 billion last year. The retailer’s net income was $200 million, up from $170 million in 2015.  

Tiffany & Co has appointed Reed Krakoff to the newly created position of chief artistic officer.   Krakoff, who previous worked with Tiffany on the re-launch of its gifts, home and accessories collections, will join the company on Feb. 1. He will direct design for Tiffany & Co. brand jewelry and luxury accessories, and also lead the brand’s artistic and design vision with respect to stores, e-commerce, marketing and advertising.  

Online spending, and the amount of purchases made after the standard shipping deadline, were on the rise this holiday season.  

Coach announced the appointment of Kevin G. Wills as CFO, effective no later than March 2017.   Wills joins the upscale specialty retailer from AlixPartners LLP, a global business advisory firm, where he has served as managing director and CFO since March 2014.    

Seaport District

Location: Lower Manhattan, New York, N.Y.

Size: The transformed Seaport District will encompass seven buildings on several blocks totaling more than 400,000 sq. ft.

Developer: The Howard Hughes Corporation

Key tenants: iPic Theaters, 10 Corso Como, Scotch & Soda

Status: Pier 17, the property at the center of the Seaport’s development plan, is set to open next year.

The past year saw the opening of dozens of exciting new stores in Manhattan. Here’s my annual list of faves:

• Barneys: In a spectacular homecoming, the upscale retailer opened a stunning flagship downtown on the same block the company was founded in 1923. The multi-level, 55,000-sq.-ft. store combines the ultimate in modern luxe with the latest technology, from beacons to a store clienteling app to mobile checkouts. (101 Seventh Ave.)

The majority of retailers managed to keep their shipping promises this holiday.   That’s according to Kurt Salmon’s annual Holiday Shipping study, which found that 97% of retailers successfully processed and delivered orders to customers on their last guaranteed shipping date before Christmas. according to Kurt Salmon’s (part of Accenture Strategy) annual Holiday Shipping study. This compares to 87% in 2014 and 95% in 2015. 

Consumers are spending more money per gift online this holiday season than last — 49% more to be exact.   That’s according to e-gifting platform and service Look Commerce, which announced insights into consumer gifting behavior and top gifts purchased between Dec. 10 and Dec. 16, 2016.