Updates

** Shares of Coach parent Tapestry TPR.N fell as much as 11.9% to $131.07

** Stocks set for its worst day since August 14, 2025

** Co expects subdued revenue growth in the current quarter and margin pressure across its brands, adding to concerns around weak luxury demand

** Co forecasts low-teens revenue growth at Coach for the fourth quarter, and a high-single-digit decline at Kate Spade

** However, raises FY2026 annual revenue and profit forecast

** Posts Q3 revenue of $1.92 billion beat estimates of $1.79 billion, while adjusted profit of $1.66 per share tops expectations of $1.30, according to data compiled by LSEG

** As of last close, TPR up 16.5% YTD