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KATE SPADE : & CO : Other Events (form 8-K)

05/20/2014 | 04:25pm US/Eastern

ITEM 8.01. OTHER EVENTS.

On November 19, 2013, Kate Spade & Company (the "Company") entered into an agreement with the landlord of the premises located at 650 Fifth Avenue, a joint venture between Jeff Sutton'sWharton Properties and SL Green Realty, to terminate the lease for its flagship Juicy Couture store in New York City in exchange for a $51.0 million payment. On May 15, 2014, the Company surrendered such premises to the landlord and received proceeds of $45.8 million (net of taxes and fees), exclusive of $5.0 million previously received by the Company.

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