Coach Names New CFO
January 04 2017 - 8:45AM
Dow Jones News
By Imani Moise
Struggling retailer Coach Inc. named a new chief financial
officer Wednesday after losing its former CFO to a rival last
year.
Kevin Wills will take the post, replacing interim CFO Andrea
Resnick. Ms. Resnick has been in the position since August, when
Jane Nielson was poached by Ralph Lauren Corp. after five years in
the job.
Mr. Wills joins the luxury brand from AlixPartners LLP, a global
business advisory where he was CFO for two years following a
16-year stint at Saks Inc.
The move comes as Coach is working to rebrand itself. The
company's past three years have been marked by sales declines and
store closings as it faced increased competition from affordable
luxury rival Michael Kors Holdings Ltd.
In the latest quarter, however, sales at existing North American
stores grew 2%. The 75-year old company brought in a new executive
creative director last month and has been on the hunt for
acquisitions.
Shares, inactive premarket, are up 5.7% over the past 12 months
at $35.51 but are still well below the company's all time high of
$79.03 reached in March 2012.
Write to Imani Moise at imani.moise@wsj.com
(END) Dow Jones Newswires
January 04, 2017 08:30 ET (13:30 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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