Kate Spade and Kenneth Cole announce store closures
Kate Spade has announced that it will be closing all of its Jack Spade and Kate Spade Saturday stores in the first half of 2015. A total of 28 stores will be closed including 16 Saturday and 12 Jack Spade locations
It must be noted that though the Saturday brand, an attempt to launch a more casual, lower priced offshoot, will apparently be discontinued, Jack Spade, the men’s counterpart to the Kate Spade label, will remain in operation under a modified business model and available through stores like Saks fifth Avenue and Bloomingdale’s among others. In fact, the brand is being expanded to include tailored clothing and dress furnishings, categories which, according to Kate Spade & Co. executives, are more favorably grown through wholesale strategies.
Kenneth Cole is closing 5 stores in California this Spring as part of a restructuring plan in the U.S. By contrast, internationally, Kenneth Cole has been reporting positive performance.