A federal judge blocked Tapestry’s acquisition of rival Capri, dealing a blow to their ambitions to create a house of brands that would include Coach, Kate Spade, Michael Kors, Versace and Jimmy Choo.

A federal court judge has blocked the proposed merger between Tapestry-owned Coach and Capri parent Michael Kors. The reasoning behind the judge's order wasn't immediately clear but the FTC had previously argued the merger would harm consumers,