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, raise prices and reduce employee benefits.

A federal court sides with the FTC, which argued that a Tapestry-Capri merger would raise prices for handbags.

A federal judge blocked Tapestry's acquisition of Capri on Thursday following a brief trial last month in New York. In her order, Judge Jennifer Rochon granted the Federal Trade Commission's motion for a preliminary injuction to block the proposed merger,