Plunging Kate Spade sales hit shares of parent Tapestry

Handbag maker Tapestry, formerly Coach, reported a drop in third-quarter margins and a steeper-than-expected decline in same-store sales in its Kate Spade business on Tuesday, sending its shares down 11 percent. The company also said it faced production delays and lower sales of old styles at its high-end Stuart Weitzman footwear brand, expecting those issues...