Tapestry sees Kate Spade turnaround taking more time, shares plunge
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(Reuters) - Tapestry Inc shares tumbled to their lowest in over a decade on Thursday after the high-end fashion house forecast a surprise fall in first-quarter revenue and profit and said it was not sure when same-store sales at Kate Spade would rise.Weakness at the millennial-centric brand, which Tapestry has grappled to turn around since buying it in 2017, also prompted the company to cut its full-year profit growth expectations.The struggle to clear Kate Spade excess inventory blunted the..