Tapestry stock has been sliding since Tuesday, but the luxury brand tumbled even further Thursday after it issued soft guidance that made it the worst performer in the S&P 500.

The parent company of Coach and Kate Spade guided fiscal 2027 earnings of $7.80 and $7.90 a share on revenue between $8.4 billion and $8.5 billion. That outlook at the midpoint was below Wall Street's $7.87 a share and $8.47 billion forecast, according to FactSet.

That was enough for investors to send Tapestry stock down 15% to $130.05 on Thursday and make it the worst S&P 500 component. For comparison, the S&P 500 rose 0.6% while the Dow Jones Industrial Average declined 0.1%.

The weak guidance was just the excuse Wall Street needed to continue taking profit after Tapestry stock hit a record closing high of $164.78 on Monday. Shares were on pace Thursday to close lower for a third-consecutive session after notching that record high.

The soft guidance for the current fiscal year, along with the recent record high, was also enough to overshadow solid fiscal fourth-quarter earnings.

Tapestry posted adjusted earnings of $1.32 a share, up from $1.04 a year ago and above Wall Street's $1.28 expectation. Revenue grew 9% to $1.88 billion, slightly beating the analyst consensus call for $1.87 billion.

The profit-taking has dimmed what had been a strong run for Tapestry stock. Shares had gained 29% this year as of Monday's closing but is now up just about 2% in 2026.

Not even the glimmer of a 16% increase to Tapestry's quarterly dividend at 46.25 cents a share was enough for Wall Street to stop selling.

Now the only question is when shares will bottom.