Why Shares of Tapestry are Down Sharply Today

Shares of Tapestry (NYSE: TPR), the corporate owner of the Coach and Kate Spade brands, were trading down on Thursday on growing concerns about business disruption due to the outbreak of COVID-19.

As of 2 p.m. EST, Tapestry's shares were down about 7.2% from Wednesday's closing price.

There are a couple of reasons why investors in Tapestry and other fashion and luxury companies are having COVID-19-related concerns today. 

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Source Fool.com