Tapestry on Thursday issued an upbeat annual earnings forecast after beating Wall Street estimates for quarterly profit, helped by resilient demand from affluent and young shoppers for its Coach handbags.
Financial Performance
The company has scaled back promotions, instead targeting its marketing campaigns toward younger shoppers to help Coach gain market share. Newer collections such as Tabby and Belted Ergo shoulder bags have also helped drive growth at Tapestry.
Revenue from North America, its biggest region, rose 7% on a constant currency basis, while China jumped 28% and Europe rose 19% compared with a year ago.
The company expects earnings per share for the year ending June 2027 to be in the range of $7.80 to $7.90, the midpoint of which is above analysts’ estimates of $7.84 per share.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
