Tapestry’s stock rose about 4% as investors shrugged off a revenue miss
Tapestry Inc. ’s stock reversed early losses to trade up 3.9% Thursday, after the parent of the Coach, Kate Spade and Stuart Weitzman brands missed revenue estimates for its fiscal first quarter and offered guidance that lagged consensus.
The company TPR, +4.06% had net income of $195 million, or 84 cents a share, in the quarter to Sept. 30, after income of $195 million, or 79 cents a share, in the same period a year earlier.Sales came to $1.51 billion, slightly above the same period a year earlier, and below the $1.54 billion FactSet consensus.
“Despite the challenging consumer backdrop in the U.S., we are driving a healthy business, underscored by significant gross and operating margin expansion compared to last year,” she said, according to a FactSet transcript. “We’re learning, we’re using their technology,” he said. “Their 3D technology alone is fascinating in terms of showing the functionality and the desirability of our products. They’ve been a very good partner. It’s a wholesale relationship. And to date, we’ve seen no cannibalization.”
Tapestry Inc. Stock Revenue Estimates Fiscal First Quarter Guidance North America Profit Margin Improvements Kate Spade Stuart Weitzman Jefferies Analysts
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tapestry’s stock dips after revenue miss and guidance that lags consensusCiara Linnane is MarketWatch's investing- and corporate-news editor. She is based in New York.
Read more »
Berkshire Hathaway Inc. Cl B stock rises Wednesday, still underperforms marketSupported by world-class markets data from Dow Jones and FactSet, and partnering with Automated Insights, MarketWatch Automation brings you the latest, most pertinent content at record speed and with unparalleled accuracy.
Read more »
Berkshire Hathaway Inc. Cl B stock outperforms competitors despite losses on the daySupported by world-class markets data from Dow Jones and FactSet, and partnering with Automated Insights, MarketWatch Automation brings you the latest, most pertinent content at record speed and with unparalleled accuracy.
Read more »
Alphabet Inc. Cl A stock underperforms Tuesday when compared to competitors despite daily gainsSupported by world-class markets data from Dow Jones and FactSet, and partnering with Automated Insights, MarketWatch Automation brings you the latest, most pertinent content at record speed and with unparalleled accuracy.
Read more »
Apple Inc. stock outperforms competitors on strong trading daySupported by world-class markets data from Dow Jones and FactSet, and partnering with Automated Insights, MarketWatch Automation brings you the latest, most pertinent content at record speed and with unparalleled accuracy.
Read more »
Netflix Inc. stock falls Tuesday, underperforms marketSupported by world-class markets data from Dow Jones and FactSet, and partnering with Automated Insights, MarketWatch Automation brings you the latest, most pertinent content at record speed and with unparalleled accuracy.
Read more »