Coach parent Tapestry shares rise after earnings and revenue that exceed expectations [MarketWatch]
Tapestry, Inc. (TPR)
Last tapestry, inc. earnings: 4/30 06:45 am
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Source: MarketWatch
Coach parent Tapestry shares rise after earnings and revenue that exceed expectations Tapestry Inc. TPR, +6.45% shares were up 2.3% in Tuesday premarket trading after it reported earnings and revenue that beat guidance. Fiscal second-quarter net income totaled $63.2 million, or 22 cents per share, down from $199.7 million, or 71 cents per share, for the same period last year. Adjusted EPS was $1.07. Revenue totaled $1.79 billion, up from $1.32 billion last year. The FactSet consensus was for EPS of 89 cents and revenue of $1.77 billion. Coach sales for the second quarter rose 2% to $1.23 billion and global same-store sales were up 3%. Kate Spade revenue was $435 million, and global same-store sales fell 7%, which the company attributed, in part, to a "strategic pullback" in wholesale and online flash sales. And Stuart Weitzman sales rose 2% to $121.0 million. Tapestry plans to pay a one-time transition tax on $315 million to be repatriated and a one-time $102.0 million for net defe
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TPR
News
- The FTC Lays Out Its Case Against Tapestry's $8.5B Buyout of Capri [Yahoo! Finance]Yahoo! Finance
- The handbag wars have begun after the US sued to block the merger of Coach and Michael Kors [Business Insider]Business Insider
- FTC Sues to Block Tapestry Inc.'s Acquisition of Capri Holdings [Yahoo! Finance]Yahoo! Finance
- Capri Holdings Limited Issues Statement on FTC Action Seeking to Block Proposed Transaction with Tapestry, Inc. [Yahoo! Finance]Yahoo! Finance
- Tapestry, Inc. Responds to the FTC’s LawsuitBusiness Wire
TPR
Earnings
- 2/8/24 - Miss
TPR
Sec Filings
- 4/22/24 - Form 8-K
- 4/15/24 - Form 4
- 4/15/24 - Form 8-K
- TPR's page on the SEC website