Tapestry falls after forecasting annual profit below estimates amid tariff woes

** Shares of Coach handbag maker Tapestry TPR.N down 6.6% at $106 premarket

** Company forecast annual adjusted EPS between $5.30 and $5.45, below an estimate of $5.49 - data compiled by LSEG

** Says profit forecast includes a negative impact of incremental tariffs and duties of over 60 cents

** Estimates a projected tariff and trade policy impact of approximately 230 basis points to operating margin in fiscal 2026 after consideration of mitigating actions

** However, Tapestry forecast annual revenue to be about $7.2 billion, versus analysts' estimate of $7.11 billion, and beat revenue and profit estimates for Q4

** Up to last close, stock has risen ~74% YTD