From Nasdaq:

Though Tapestry’s fiscal Q2 release with revenues and earnings missing expectations, it still plans to acquire Capri Holdings for $8.5 billion. The acquisition of Capri Holdings will create a huge portfolio of luxury brands as Tapestry’s Coach, Kate Spade, and Stuart Weitzman brands will be combined with Capri’s Versace, Jimmy Choo, and Michael Kors brands. Tapestry has had mixed returns in the last few years with gains consistently strong. There is an expectation that its valuation is around $35 a share, which is lower than the current market price. Additionally, revenues are expected to be below consensus estimates, and EPS is likely to miss the consensus estimates marginally. Tapestry’s current stock price estimate is also expected to be lower than the current market price.



Read more: Up 8% This Year, How Will Tapestry Stock Trend Post Q2 Results?