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Coach Q3 profit tops estimates; COO out in job reduction
Coach on Tuesday reported its first growth in quarterly profit in three years. The retailer also announced a series of management changes and corporate job reductions resulting in a pre-tax charge of about $65 million to $80 million in the fourth quarter.
Coach said it would cut an unspecified number of corporate jobs, and announced that president and COO Gebhard Rainer and global marketing president David Duplantis would leave the company.
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Sears announces another closing — but this one doesn’t involve stores
Sears Holdings will shutter its apparel design office in New York City.
The struggling retailer will shutter the 154-employee office in July, reported the New York Post, which cited a Department of Labor filing.
Sears will move approximately 40 positions to an existing site in San Francisco, with the remainder positions to be cut, according to the report.

