Tapestry IncParent to CoachKate Spade You can also find out more about the following: Stuart Weitzman, reported Results for the third quarter financial year on Thursday, revealing its sales figures fell beneath Wall Street Expectations for the next three months

According LSEG Data via ReutersAnalysts had predicted that the conglomerate’s sales would be $1.5 billion in the third quarter. March 30. Tapestry’s The company’s revenue also fell from $1.51 billion dollars the previous year. Across brands, sales at Coach The revenue at Kate Spade You can also find out more about the following: Stuart Weitzman The two categories of drops dropped by 6 and 18% respectively.

In AprilUS Federal Trade Commission filed a lawsuit The following are some examples of the use of Tapestry It is attempting to block the acquisition of its rival Capri Holding LtdWhich owns Michael Kors, Versace You can also find out more about the following: Jimmy Choo. The FTC stated that, if this deal went through, it would eliminate competition directly in the luxury bag space

In In a written statement, the FTC said that the “proposed merger threatens to deprive millions of American consumers of the benefits of Tapestry and Capri’s head-to-head competition, which includes competition on price, discounts and promotions, innovation, design, marketing and advertising.”

Earlier This month, we have a judge announced The lawsuit will be heard in court September 9. The Preliminary injunction hearings are expected to continue for the remainder of this week. Should The fate of the merger depends on the decision made by the judge Tapestry-Capri Deal will be decided by the FTC in-house court.

In Its third-quarter Press Release Tapestry Then it’s started “confident in the merits and pro-competitive, pro-consumer nature of this transaction and looks forward to presenting its strong legal arguments in court.”

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