Fashion
Kate Spade Eyes Rebound as It Breaks Away From Flash Sale Past
- Line’s same-store sales fell less than analysts had feared
- Tapestry shares jump the most in more than a year after report
Photographer: David Paul Morris/Bloomberg
Tapestry Inc., the handbag maker formerly known as Coach, is getting shoppers back on board with its recovering Kate Spade brand.
The line’s same-store sales, a key metric for the retail industry, surpassed analysts’ expectations in the latest quarter, thanks to the fashion label’s revitalization efforts and a break from the online flash sales that it had become known for. Tapestry’s shares rose as much as 11 percent on Tuesday, the most in more than a year.