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Why Tapestry's Stock Is Down Today

TheMotleyFool

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Why Tapestry's Stock Is Down TodayPhoto, wide shot, wide-angle lens, Toy manufacturer, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by David Maisel: https://img.theapi.app/temp/2788fcd3-d339-4592-8f5c-a3b9125dc61f.png

Shares of Tapestry (NYSE: TPR), owner of Coach and other luxury brands, were falling on Thursday after the company released earnings that fell short of expectations and announced a round of job cuts.

As of 11:30 a.m. EDT today, Tapestry's shares were down about 9.6% from Wednesday's closing price.

Tapestry reported earnings for its fiscal third quarter before the market opened on Thursday, and they were worse than expected, even after the coronavirus pandemic shuttered stores around the world.

Source Fool.com

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