Tapestry Forecasts Lower Annual Profit, Shares Drop Amid Tariff Challenges
Tapestry starts this story with tough news. The company makes Coach handbags. It shared a lower profit forecast for the year. This caused Tapestry shares to drop 8%. The drop links to new U.S. import duties. These duties could cost the company $160 million. We see steady demand for Coach bags. Yet, tariffs create big…