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Luxury retailer tops Q2 estimates
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. -
Shoes.com shuts down operations
In an abrupt move, Shoes.com pulled the plug on its operations on Friday, Jan. 27. The company, which said in September it was preparing for its next phase of growth, took its three e-commerce businesses, Shoes.com, ShoeMe.ca and OnlineShoes.com, offline, and closed the doors to two brick-and-mortar locations in Vancouver and Toronto.

