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Coach profit tops Street as efforts to reduce discounting help bottom line
Coach reported better-than-expected profit for its third quarter as its turnaround efforts to reduce discounts on its goods sold in the United States gain increased traction. The upscale retailer reported net income of $130 million, with earnings per diluted share of $0.46, in the quarter ended April 1, compared to $124 million in the year-ago period. Its results exceeded Wall Street expectations. -
CBL sells outlet center for $130 million
The Outlet Shoppes at Oklahoma City was acquired this week by an unnamed buyer, reported CBL & Associates, which co-owned the center with Horizon Group Properties. "The Outlet Shoppes at Oklahoma City was the first project we developed with Horizon and has been a huge success,” said Stephen Lebovitz, CBL’s president & CEO. “We are pleased to demonstrate the value of our outlet portfolio and provide additional liquidity to reduce leverage and help fund our redevelopment program."

