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Tapestry Cuts Annual Sales Forecast on China Hit

The exterior of a Coach store with a shopper window shopping bags outside the store.
Tapestry Inc cut its annual sales forecast, as consumers in key luxury market China shun designer handbags and shoes amid new Covid-19 outbreaks and stringent lockdowns. (Shutterstock)
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Tapestry Inc cut its annual sales forecast on Thursday, as consumers in key luxury market China shun designer handbags and shoes amid new Covid-19 outbreaks and stringent lockdowns, taking the shine off the steady demand from wealthier Americans.

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