Stocks and Shares - Coach Handbags Hottest Luxury Stock
Coach handbags was voted hottest luxury stock this week by the readers of TheStreet.com. The company appointed Graziano de Boni head of its Reed Krakoff division this week. The new division will sell handbags, apparel, shoes and jewelry. De Boni was previously president and CEO of Prada U.S.Shares of Coach ended the week up 7% to $33.63.
Nordstrom was a close second with 26% of votes. Nordstrom is still struggling to retain shoppers, but has mnaged to achieve this through its tiered pricing structure and the high quality of its customer service.
Nordstrom shares closed on Friday up 9% at $31.88.
Tiffany was third with 20% of the vote, with Polo Ralph Lauren fourth, with 13%.
Saks came in last with 11%. Saks has been struggling more than the others and opened a designer floor at its 5th Avenue flagship store this month. Nonetheless, shares in Saks ended up 10% on the week at $7.38.
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