Tapestry, a luxury goods retailer known for its handbags, shoes, and accessories, is set to announce its fiscal second-quarter results on Thursday, February 8. However, it is expected that the company's stock will experience a decline after the release, as revenues and earnings are anticipated to fall short of expectations.
One factor influencing Tapestry's financial performance is its plan to acquire Capri Holdings, formerly known as Michael Kors, in an $8.5 billion deal financed by debt. This acquisition would create a vast portfolio of luxury brands, combining Tapestry's Coach, Kate Spade, and Stuart Weitzman with Capri's Versace, Jimmy Choo, and Michael Kors.
