Tapestry drops on soft revenue forecast amid Kate Spade weakness

Tapestry

13/08/2026 15:04

Updates
** Shares of Coach-parent Tapestry TPR.N down as much as 16.18% at $128.87

        ** Stock set for its worst day since May 2026, if losses hold
** Co forecasts fiscal 2027 revenue slightly below expectations amid persistent weakness at Kate Spade
** Expects annual revenue in the range of $8.4 billion to $8.5 billion, the midpoint of which is below analysts' estimates of $8.46 billion - data compiled by LSEG
** However, sees annual EPS in the range of $7.80 - $7.90, with midpoint above estimates of $7.84 
** Logs quarterly revenue of $1.88 billion, in line with analysts' expectations
** For Q4 ended June 27, Kate Spade's sales drop 7% year-on-year
** Reports adjusted EPS of $1.32, topping estimates of $1.28
** As of last close, stock up ~20% YTD

 (Reporting by Shania S Thomas in Bengaluru)
 ((shanias.thomas@thomsonreuters.com))