Hottest Luxury Stock: Coach Tops Poll
NEW YORK(
) -- A
luxury recovery may be lagging the rest of the retail sector
, but investors still think
Coach
(COH)
is a winner.
The handbag and accessories maker was ranked as the hottest luxury stock this week by TheStreet users. This week the company appointed Graziano de Boni as the head of its newest Reed Krakoff division, which will sell apparel, handbags, shoes and jewelry. De Boni was the former president and CEO of Prada U.S.
Shares of the company ended the week up 7% to $33.63.
In a close second was
Nordstrom
(JWN) - Get Report
, with 26.1% of the vote. The high-end department store, while still struggling to retain shoppers, has been better able to do so through its tiered pricing structure and notable customer service.
Shares of the company closed on Friday at $31.88, up 9% from last week's close.
Tiffany
(TIF) - Get Report
came in third with 20.4% of the vote, while
Polo Ralph Lauren
(RL) - Get Report
ranked fourth, with 13.1%.
Saks
(SKS)
came in last place, with 10.9%. The company has been struggling the most amid the recession and opened a new designer floor at its New York City 5th Avenue flagship store this month at one of the worst times possible.
Nonetheless, shares in Saks ended the week up 10% to $7.38.
-- Reported by Jeanine Poggi in New York
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