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Tapestry to ‘Substantially’ Slash Jobs After Bleeding $677.1M

Fashion is at a crossroads: continue with cutting-edge strategies developed to persevere during Covid or slide back into familiar (yet unprofitable) habits? Get the experts' perspective at our in-person Sourcing Summit, Oct. 19 at New York’s Cipriani 42nd Street.

Tapestry Inc. swung to the red in the third quarter, hemorrhaging $677.1 million after widespread COVID-19 store closures choked off much of its revenue stream. The owner of the Kate Spade, Coach and Stuart Weitzman brands is also slashing jobs at corporate and at stores, an attempt to help stem the bleeding. In a Nutshell:…

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