Fashion
Tapestry Hit by a Slew of Downgrades After Kate Spade Slumps
Photographer: Michael Nagle/Bloomberg
Disappointing results at Tapestry Inc.’s Kate Spade line prompted a string of rating downgrades on the stock, with analysts saying a recovery may take several quarters.
After sliding 22% Thursday to a 10-year low, Tapestry shares pared some of the losses to rise as much as 3.4% in New York on Friday.