Tapestry Stock Slumps as Coach, Kate Spade Parent Cuts Outlook on Tariff Costs
1. Tapestry lowered fiscal 2026 EPS forecast due to new U.S. tariffs. 2. Anticipated $160 million tariff impact offsets record fourth-quarter revenue. 3. Coach brand sales surged 14% to $1.43 billion despite overall declines. 4. Shares fell 15% but have risen nearly 50% year-to-date. 5. EPS estimate now $5.30 to $5.45, below analyst expectations.