Strong Performance Reported... Coach Parent Company Stock Loses 1.9 Trillion Won in a Day

Tapestry Inc. (NYSE: TPR) saw its share price tumble 5.16% in the latest U.S. trading session, closing at $137.95. In a single day, the company’s market capitalization fell by roughly $1.37 billion (about ₩1.9 trillion).
As of now, Tapestry’s market cap stands at approximately $27.8 billion (around ₩38.5 trillion).

In its third quarter of fiscal 2026, reported on May 7, Tapestry delivered revenue of $1.92 billion and earnings per share of $1.70—both ahead of analysts’ forecasts. It subsequently raised its full-year guidance and increased its share-repurchase program. However, investor sentiment took a hit when CEO Joanne Crevoiserat sold about $3.69 million worth of stock (around ₩51 billion) in mid-May.

Tapestry is a U.S. “accessible luxury” group that owns Coach, Kate Spade and Stuart Weitzman. The company, originally named Coach, rebranded as Tapestry in 2017. In 2023, Tapestry sought to acquire luxury handbag maker Capri, but the U.S. Federal Trade Commission filed an antitrust suit to block the deal, and the merger agreement was officially terminated at the end of 2024.