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Kiplinger
Kiplinger
Business
Joey Solitro

Capri Stock Craters After Judge Blocks Tapestry Merger: What to Know

CAPRI Tapestry Capri Holdings Kate Spade CPRI Eric Clark FTC Michael Kors
The outside of a Capri-owned Michael Kors storefront in Lisbon, Portugal.

Capri Holdings (CPRI) stock plunged nearly 50% out of the gate Friday after a U.S. judge on Thursday blocked the luxury retailer's pending $8.5 billion merger with Tapestry (TPR). The deal would have brought Capri's family of brands – Michael Kors, Jimmy Choo and Versace – together with Tapestry's high-end Coach, Kate Spade and Stuart Weitzman segments.

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