Tapestry (TPR) News & Analysis

Deckers Outdoor, United Airlines and Tapestry have been highlighted in this Investment Ideas article.

Despite a sluggish tone to wrap up 2024, these three stocks continued climbing higher, now hovering near all-time highs and sporting bullish EPS outlooks.

Tapestry (TPR) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).

Deckers, Tapestry, Abercrombie & Fitch and Torrid have been highlighted in this Industry Outlook article.

With Tapestry’s $8.5 billion merger with luxury retail peer Capri called off, CIO Yang Lu can dedicate her focus on innovative technologies, like artificial intelligence.

TPR pulls out of the merger with Capri, redirecting efforts toward expanding its business and enhancing shareholder value.

Now Michael Kors’ owner Capri has to figure out how to survive without the Tapestry deal.

Tapestry, the owner of Coach, said it would abandon its $8.5 billion deal to buy Capri, the parent company of Michael Kors, after the Federal Trade Commission successfully sued to stop the transaction.

Tapestry—the owner of luxury brands such as Kate Spade and Coach—and Capri—owner of Michael Kors, Versace and Jimmy Choo ended their merger efforts after a federal lawsuit sought to block the deal.

Tapestry Inc.’ stock soared Thursday, while Capri Holdings Inc.’s stock erased losses to gain 4%, after Tapestry said it’s terminating its $8.5 billion merger agreement with its smaller rival.

The parent companies behind Coach and Michael Kors saw their proposed merger blocked by the Federal Trade Commission.

TPR gains over a million new customers in Q1, primarily Gen Z and Millennials, driving strong first-quarter results. The company raises its fiscal 2025 outlook.

TD Cowen lowered shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 target price on the stock. in a report on Tuesday.

Tapestry and Capri Holdings have filed their notice to jointly appeal the decision by a U.S. District judge to temporarily halt the merger between the makers of Coach and Michael Kors handbags, according to a court filing Monday

These are the stocks posting the largest moves in midday trading.

Shares of Michael Kors parent Capri unraveled early Friday after a judge blocked its $8.5 billion merger with Coach owner Tapestry.
The post Michael Kors Parent Craters On Blocked Merger With Tapestry appeared first on Investor's Business Daily.

The F.T.C. had sued to halt the merger of Tapestry, the parent of Coach and Kate Spade, and Capri, the owner of Versace and Michael Kors.

A federal judge on Thursday blocked Tapestry Inc.’s planned $8.5 billion acquisition of Capri Holdings, agreeing with regulators that the deal would hurt competition in the handbag industry.

A U.S. District judge ruled in favor of the Federal Trade Commission’s antitrust case against Tapestry Inc. and Capri Holdings and has halted the merger of the two luxury fashion companies

A federal court sides with the FTC, which argued that a Tapestry-Capri merger would raise prices for handbags.

The owners of Coach and Michael Kors, Tapestry and Capri, saw their proposed merger blocked after the FTC sued to stop the deal.

Tapestry (TPR) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

The Goldman Sachs Group boosted their target price on shares of Tapestry from $47.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday.