Tapestry’s shares fell after lackluster forward guidance overshadowed stronger-than-expected fiscal fourth-quarter results.
Tapestry (TPR) reported better-than-expected earnings and revenue for its fiscal fourth quarter but issued disappointing guidance, triggering a sell-off. The company’s shares plunged intraday, breaching key technical levels and signaling further downside risk.
Kate Spade’s ongoing struggles continued to weigh on performance, offsetting gains from the Coach brand. Analysts had anticipated a stronger outlook following the earnings beat, but persistent challenges in the Kate Spade division tempered expectations.
The stock’s decline contrasted with broader market gains, as investors reacted to the mixed signals. Tapestry’s guidance revision overshadowed the quarterly beat, highlighting concerns over brand recovery.