A judge has blocked Coach owner Tapestry from buying rival Capri, endorsing the Federal Trade Commission’s competition concerns. Capri stock had already fallen a long way from Tapestry’s offer price, as investors grew skeptical the fashion tie-up would close. Annual revenue at Michael Kors peaked in 2016 and has fallen substantially since then, with margins squeezed by heavy discounts.
Yahoo! Finance: CPRI News
