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Kate Spade is calling it quits on all Kate Spade Saturday and Jack Spade stores. According to the Wall Street Journal, Kate Spade will move the Saturday brand to a sub-brand under its namesake line and Jack Spade will transition into an online-only shop, although it will still be available in stores via third-party retailers. All in all, the brand is shuttering 28 company-owned stores. In the report, the Journal notes that Kate Spade has been struggling in the face of stiff retail competition that thrives on heavy promotional sales, creating smaller profit margins.
· Kate Spade to Wind Down Kate Spade Saturday, Jack Spade Stores [WSJ]
· Kate Spade Saturday Opening Genius, Techy Airport Showroom [Racked]