The info comes from analysts at financial services and investment firm Wedbush, who reached out to 112 handbag managers in the U.S. and Canada for the report. According to the report, 60 stores reportedly will eliminate the brand by June, with more phasing out Michael bags by the end of the year.
Wedbush’s sources cited “waning interest from customers,” as well as constant competition with Macy’s over sales, forcing Nordstrom to price match Macy’s discounted Michael Kors product.
A representative from Nordstrom confirmed to Racked that it still maintaining its “relationship with Michael Kors handbags and accessories,” and that it could not verify or comment on the Wedbush report.
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