Tapestry Q1 profits drop 84 percent

The company said on Tuesday its Q1 net profit slipped. Revenues decreased by 2 percent from the same period last year.

For Q1, the company's net profit was 20 million dollars, decreased from 122 million dollars last year. Revenues dropped to 1,358 million dollars. Compared to 9 percent a year ago, the profit margin of the company dropped to 1 percent.

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