Tapestry Shares Drop Despite Strong Earnings Amid Tariff and Brand Challenges
TL;DR Summary
Tapestry, the parent company of Coach and Kate Spade, saw its shares drop 15% after announcing that increased tariffs will reduce its profits by $160 million in the upcoming fiscal year, despite strong sales growth. The company expects modest revenue growth and is exploring strategies to mitigate tariff costs, such as diversifying manufacturing locations and improving operational efficiency, while maintaining a positive sales outlook.
- Tapestry shares plunge 15% as Coach parent says tariffs will bite into profits CNBC
- Millennial and Gen Z customers are flocking to Coach. So why is Tapestry’s stock tanking? MarketWatch
- Tapestry Shares Fall as Kate Spade Brand, Tariffs Weigh on Profitability The Wall Street Journal
- Tapestry Tops Earnings and Sales Estimates. Why the Stock Is Sinking. Barron's
- Tapestry’s Strong Gains at Coach Tempered by $855M in Kate Spade Charges WWD
Reading Insights
Total Reads
0
Unique Readers
1
Time Saved
2 min
vs 3 min read
Condensed
86%
468 → 64 words
Want the full story? Read the original article
Read on CNBC