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Why Tapestry Stock Jumped 26% in September

TheMotleyFool

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Why Tapestry Stock Jumped 26% in SeptemberPhoto, wide shot, wide-angle lens, Retail store, Midday, harsh overhead sunlight, directional sunlightt, photo by Thomas Heaton: https://img.midjourneyapi.xyz/temp/bda07ced-e79e-4489-b731-ada601660c8e.png

Shares of Tapestry (NYSE: TPR) climbed 26.2% last month, according to data provided by S&P Global Market Intelligence. Investors cheered the news that the operator of luxury brands, including Coach, Kate Spade, and Stuart Weitzman, appointed its own chairman of the board, Jide Zeitlin, to lead the company as the new CEO.

The company hasn't been able to grow fast enough to justify the high valuation it had at the start of the year, which led to a dramatic collapse in the stock price. Investors are hopeful that the new head honcho can instill new life into a business with a lot of potential to perform better in the growing luxury goods industry.

IMAGE SOURCE: GETTY IMAGES.

Source Fool.com

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