Previous close | 40.62 |
Open | 40.86 |
Bid | 0.00 x 800 |
Ask | 0.00 x 1100 |
Day's range | 40.06 - 40.88 |
52-week range | 25.99 - 48.80 |
Volume | |
Avg. volume | 3,874,227 |
Market cap | 9.246B |
Beta (5Y monthly) | 1.60 |
PE ratio (TTM) | 10.15 |
EPS (TTM) | 3.97 |
Earnings date | 09 May 2024 - 13 May 2024 |
Forward dividend & yield | 1.40 (3.47%) |
Ex-dividend date | 07 Mar 2024 |
1y target est | 49.59 |
The Federal Trade Commission sued to block Tapestry, Inc.’s $8.5 billion acquisition of Capri Holdings Ltd., saying that the deal would eliminate direct head-to-head competition between the fashion companies' brands like Coach and Michael Kors in the so-called affordable luxury handbag arena. The combined Tapestry and Capri would employ roughly 33,000 people worldwide, the agency said. “With the goal to become a serial acquirer, Tapestry seeks to acquire Capri to further entrench its stronghold in the fashion industry,” said Henry Liu, director of the FTC’s bureau of competition in a statement.
Regulators argue the deal would eliminate competition in the market for less expensive luxury handbags.
NEW YORK, April 22, 2024--Tapestry, Inc. (NYSE: TPR), a house of iconic accessories and lifestyle brands consisting of Coach, Kate Spade, and Stuart Weitzman, today issued the following statement in response to the Federal Trade Commission’s (FTC) attempt to block its proposed acquisition of Capri Holdings Limited (NYSE: CPRI), a global luxury fashion group consisting of Versace, Jimmy Choo, and Michael Kors: