Tapestry shares plunge 15% as Coach parent says tariffs will bite into profits
1. Tapestry faces $160 million profit hit from tariffs in fiscal 2026. 2. Earnings per share forecast is slightly below analyst expectations. 3. Sales growth is expected despite tariff-related profit headwinds. 4. Tapestry focusing on cost mitigation strategies amid uncertain market. 5. Major U.S. retailers are set to report earnings soon.