While DealReporter.com published the story, CNBC’s stock analyst Jim Cramer called the report “unfounded.” The company recently recruited Nike‘s (NYSE:NKE) former global creative director Zach Augustine to renovate its stores.
Coach has declined to comment on “speculation or rumors” regarding a possible sale, FoxBusiness noted.
Last month, the luxury retailer announced holiday sales that were weaker than expected. It’s CEO Lew Frankfort has announced his intention to resign in January of next year.
The company plans to expand its shoe and clothing offerings, opening a number of “shoe salons.”