Shares of Kate Spade & Co. dropped 25.4 percent to $29 as investors put concerns about the company’s margins over satisfaction with its reduced second-quarter loss.
The pullback in Kate Spade stock, centered on liquidations of its Kate Spade Saturday inventory and their negative impact on gross margin, was by far the largest move by any of the 100 equities on the WWD Global Stock Tracker, which declined 0.2 percent to 98.04 for the day.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)