Tapestry ended the day with some big news: Joshua Schulman, the CEO and brand president of Coach, is leaving the company.
Tapestry, which also owns Kate Spade and Stuart Weitzman, announced that its chairman and CEO, Jide Zeitlin, will oversee Coach on an interim basis as the company searches for a new CEO, and that Zeitlin had committed to remain with Tapestry for the next three years.
Zeitlin, the long-time chairman of Tapestry, took on the CEO role in September, replacing Victor Luis, just weeks after the company cut its full-year forecast.
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