Tapestry Stock Falls 14% On Q4 Loss Despite Higher Sales

(RTTNews) - Tapestry, Inc. (TPR) dropped 14.21 percent to $97.40, down $16.13 on Thursday, after reporting a fiscal fourth-quarter net loss of $517 million, or $2.49 per share, compared with net income of $159 million, or $0.68 per share, a year earlier. On an adjusted basis, the company earned $223 million, or $1.04 per share. Net sales rose to $1.72 billion from $1.59 billion last year.

The stock opened at $95.95 and traded between $92.64 and $99.27, with 9.53 million shares changing hands versus an average of 3.71 million on the New York Stock Exchange.

Tapestry's 52-week range is $38.09 to $114.05.