Coach owner Tapestry cuts profit outlook as China lockdowns dent demand [CNBC]
Estee Lauder Companies, Inc. (The) (EL)
Last estee lauder companies, inc. (the) earnings: 5/1 06:45 am
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Source: CNBC
Tapestry joins a growing list of companies, from Apple to Estee Lauder, that have flagged the impact of China's Covid controls on their businesses. In this article Coach owner Tapestry on Thursday trimmed its profit outlook for the fiscal year 2022 with lockdowns in China poised to dent consumer demand of its high-end purses and accessories. The retailer now sees its annual earnings amounting to $3.45 per share, compared with a prior estimate of between $3.60 and $3.65 a share. It said the new guidance includes an expected headwind of 25 cents to 30 cents due to Covid-related pressures in China. Tapestry joins a growing list of companies , from Apple to Estee Lauder, that have flagged the impact of China's Covid controls on their businesses. Since March, mainland China has battled an outbreak of the omicron variant by turning to swift lockdowns and travel restrictions. Not only does this hurt demand in the region, but it also fractures manufacturing. Still, Tapestry shares
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EL
Earnings
- 2/5/24 - Beat
EL
Sec Filings
- 4/22/24 - Form 4
- 3/18/24 - Form 4
- 3/18/24 - Form 4
- EL's page on the SEC website