Tapestry (TPR) stock is plunging by double digits after the Coach and Kate Spade parent company issued an annual profit outlook that fell short of Wall Street's expectations. Telsey Advisory Group CEO and chief research officer Dana Telsey joins Market Catalysts to discuss the company's projected $160 million tariff-related hit and ongoing efforts to recreate Coach's success for the Kate Spade brand.

Tapestry shares tumbled after the company forecast a difficult year ahead for its Kate Spade brand, overshadowing a successful turnaround of sister-brand Coach.

Tapestry Inc. has been one of the stars of the retail world, but a mix of tariff costs and weakness at its Kate Spade brand sent investors fleeing on Thursday.