There’s a particular kind of heartbreak in watching a brand you love quietly disappear from your mall. If you’ve noticed fewer Kate Spade stores this year, you’re not imagining it — the brand has been closing locations while its sister label expands. That’s the story Tapestry, Inc. just told in its own earnings release. Here’s what’s really happening under one corporate roof, and why it matters if either bag is in your closet.
Kate Spade’s store count falls to 326
Kate Spade opened just 6 new stores over the past fiscal year and closed 40, a net loss of 34 locations, according to Tapestry’s fiscal 2026 earnings release, filed with the SEC on August 13, 2026. If you shop the brand regularly, you’ve likely already felt that thinning out firsthand.
That leaves the brand with 326 stores, down from 360 a year earlier — roughly a tenth of its footprint gone in twelve months. If your local Kate Spade closed, this is the context you were missing.
Sales slid along with the storefronts. Kate Spade’s revenue fell about 10% on a pro-forma basis for the full year, the same filing shows — a decline you can trace directly to fewer doors for you to walk through.
Coach expands to 973 locations
Now flip to the other side of the same page. Coach opened 66 new stores and closed only 24, a net gain of 42 locations over the same fiscal year, per Tapestry’s filing — you may have seen one of those openings yourself.
Coach ended the year with 973 stores, up from 931 — while its sister brand was shrinking by roughly the same margin. You could walk past a brand-new Coach and a shuttered Kate Spade in the same afternoon and never know they answer to the same boardroom.
The numbers side by side: Kate Spade closed the year at 326 stores, down 34; Coach closed the year at 973 stores, up 42. Same filing, same parent, opposite direction.
Coach’s revenue jumped 24% for the year
It isn’t only store count that tells the story. Coach brand revenue grew 24% for the full year (23% in constant currency), according to the earnings release.
That growth rate sits in stark contrast to Kate Spade’s roughly 10% pro-forma decline over the same twelve months — two brands, one balance sheet, two very different stories playing out in front of you at the same time.
If you’ve been comparing prices, promotions, or product drops between the two labels lately, this is the financial backdrop you weren’t seeing.
One parent company, two opposite strategies
Both brands belong to the same publicly traded company: Tapestry, Inc., which reported both sets of numbers in the same document, on the same day.
If you own a Kate Spade bag and have started noticing “sale” signs or shuttered storefronts near you, that’s not your imagination or a local fluke. It’s a companywide contraction, laid out in black and white in Tapestry’s own filing.
Meanwhile, if a new Coach store just opened in your area, that’s the flip side of the same corporate decision-making — a brand the company is actively pouring resources into, store by store, market by market.
If you try one thing with this news, let it be this: the next time you wonder why one favorite brand feels like it’s vanishing while another seems to pop up everywhere you look, check whether they share a parent company. Sometimes the real story behind your closet isn’t the brand — it’s the boardroom decisions happening one level up.
This article was produced with the assistance of AI and reviewed by Womens Overview editors prior to publication.