Tapestry Shares Plunge 16% as Tariffs Hit Profit Forecasts

Tapestry Shares Plunge 16% as Tariffs Hit Profit Forecasts

Tapestry Shares Plunge 16% as Tariffs Hit Profit Forecasts

Colorful textiles on display at an indoor market stall in Nazareth, showcasing rich designs and textures.
Photo by Tim Mossholder on Pexels

Tapestry, the parent company behind luxury brands Coach, Kate Spade, and Stuart Weitzman, experienced a significant stock decline today, with shares plummeting by nearly 16%. The sharp drop follows the company’s announcement that escalating tariffs are poised to negatively impact its profit margins, sparking investor concern over its financial outlook.

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