Kate Spade had a sale Tuesday — unfortunately it was on the company’s stock price instead of its merchandise.

Shares of the retailer of whimsical purses and accessories fell 14.7 percent, to $19.46, on Tuesday after Reuters reported that, despite the company receiving a bid from Coach last week, it plans to spend a few more weeks negotiating a sale of the company.

Investors and analysts took the report to mean that any deal would come at a price that was far less than what Wall Street expected.

“We believe that [Coach] is unlikely to complete a deal for [Kate Spade] at a price that [Kate Spade] shareholders would deem sufficient,” John Morris of BMO Capital Markets said in a note to clients.

Kate Spade and Coach declined to comment, with both citing policies against commenting on rumors and speculation.