West 34th Street

Amid declining North American sales and a decrease in profit, Coach Inc. said it's laid off 200 employees, or 11 percent of its workforce, on Tuesday. Coach is in the middle of a company restructuring. Victor Luis, a seven-year Coach veteran and former president of the international group, will replace Lew Frankfort as CEO in January as the company focuses on international expansion and growth beyond handbags into categories such as outerwear and shoes. On Tuesday, Coach also announced that Michael Tucci, president of North America, and Jerry Stritzke, chief operating officer, will be leaving the company in August.
 

Japan-based fast-fashion retailer Uniqlo, a wholly owned subsidiary of Fast Retailing Co. Ltd., recently announced plans to open its two largest-ever branded outlets to date. The retailer's Fifth Avenue global flagship—its largest store worldwide—will measure 90,000 sq. ft. and will open Oct. 14. A second store, situated on West 34th Street, will open on Oct. 21, and will measure 60,000 sq. ft. The three-story Fifth Avenue location will feature an all-glass entrance, with 500 ultra-modern mannequins lining the entrance and positioned against the store's back wall. In addition, the store will boast more than 300 LED screens—designed to evoke