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

Stores are opening but will consumers return? Join Cushman & Wakefield and rue21 for the Retail in Recovery webinar June 17 at 2 pm ET.

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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