Tapestry expects quarterly revenue, profit to drop as Kate Spade drags
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(Reuters) - Tapestry Inc forecast a surprise fall in first-quarter revenue and profit on Thursday, as the high-end fashion house struggles with sluggish demand for its Kate Spade handbags, sending its shares down 6%.The company has had problems integrating the millennial-focused Kate Spade brand, which it bought in 2017, as out of fashion products from last year created a backlog of inventory that the company is struggling to sell.Tapestry last year hired Nicola Glass, a Gucci and Michael Kors..