Tapestry Inc., owner of Coach, Kate Spade, and Stuart Weitzman, reported better-than-anticipated Q2 earnings, boosting shares, with revenue of $2.1B and EPS of $1.

Tapestry, the luxury fashion company behind Coach, Kate Spade, and Stuart Weitzman, reported a 3% increase in second-quarter revenue, beating market expectations and causing its shares to rise. The company's Coach brand sales grew by 6%, while Kate Spade and Stuart Weitzman sales fell by 6% and 4%, respectively. Tapestry's adjusted earnings per share were $1.63, surpassing analysts' consensus of $1.46. The company also raised its 2024 adjusted earnings per share guidance from $4.10-$4.15 to $4.20-$4.25 and reaffirmed its 2024 sales guidance of $6.70 billion.

February 08, 2024
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