China

Coronavirus could cost Coach owner Tapestry $250M

Coach handbag maker Tapestry Inc cut its annual profit forecast on Thursday, warning of a sales hit of up to $250 million due to the coronavirus outbreak in China, where it has closed a majority of its stores.

China allowed coronavirus delays under phase one trade deal

Beijing has pledged to buy $76.7 billion of additional U.S. goods and services, on top of a 2017 baseline, in the 12 months that started Jan. 1, 2020, but the deal deliberately does not spell out when during the year these goods should be purchased.