Retail Woes Continue: Kate Spade Plunges 17% After Slashing Guidance – Blames Lack Of Tourists

Wednesday, August 3, 2016
By Paul Martin

by Tyler Durden
Aug 3, 2016

It wasn’t the hot weather, rainy weather, or Brexit, but Kate Spade still found a convenient scapegoat on which to blame its underperformance after reporting a lower-than-expected quarterly profit as the accessories and apparel maker offered more discounts. Tourists, or rather the lack thereof.

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