De-throned! Coach-ing Mistakes and Berry Big News!

Heir apparel…

Image courtesy of iosphere/FreeDigitalPhotos.net

Image courtesy of iosphere/FreeDigitalPhotos.net

Excitement is in the air at the American Apparel headquarters and it has nothing to do with its racy billboards. Instead, highly controversial CEO Dov Charney has finally and unceremoniously been given the boot. In fact the excitement – and no doubt relief – extended to Wall Street today where shares of the stock shot up 5%. It probably had a bit to do with the fact that there are several lawsuits against Charney involving inappropriate sexual conduct with female employees. Those types of things always tend to put a downer on shares. While Charney is busy maintaining that all alleged interactions were consensual, American Apparel named CFO John Luttrell as interim CEO. American Apparel has 240 stores in twenty countries and tons of racy marketing.

This Coach can’t seem to score…

Image courtesy of David Castillo Dominici/FreeDigitalPhotos.net

Image courtesy of David Castillo Dominici/FreeDigitalPhotos.net

Shares of Coach (COH) took a beating today and haven’t been this low since July of 2010. So the company decided now would be a good time to close 70 stores that are underperforming. It seems rivals Michael Kors and Kate Spade are luring would be Coach customers away with apparently trendier styles. The nerve, I tell you. With that in mind, Coach has made up its mind to spend lots and lots of money on marketing and strengthening its presence in “key” markets. North American retail head Francine Della Badia said “consumers…will see less logo, more leather, more lifestyle categories,” if that’s your thing and Coach is banking on it that it is. The company even announced a twice a year sale. Now that is everybody’s thing. Coach has over 500 stores and 70% of its revenue comes from North America.

Berry exciting stuff…

Image courtesy of zole4/FreeDigitalPhotos.net

Image courtesy of zole4/FreeDigitalPhotos.net

Remember BlackBerry? Don’t pretend like you don’t! Well it looks like the Canadian based company is making a nice little comeback pulling in a $23 million profit this quarter. Wait a minute…Who dares to use a BlackBerry these days? Look no further than Indonesia. Actually, that’s pretty far from here but BlackBerry is selling a low-cost smart-phone there called the Z3 and it’s all the rage. So much so that BlackBerry has big plans to introduce it in eight more countries where people are sure appreciate the smartphone more for its price and functionality than for well…anything else. The nicely priced device helped the company pull in $66 million in revenue which is only 1% down from a year ago. In September BlackBerry plans to launch the BlackBerry Passport. If that doesn’t sound exciting and mysterious then I don’t know what does.

 

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s