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Tapestry Inc Up 0.92% To $37.45 After Earnings Beat

Thursday, August 18, 2022 11:34 AM | InvestorsObserver Analysts
Tapestry Inc Up 0.92% To $37.45 After Earnings Beat

Tapestry Inc (TPR) reported better than expected earnings this morning for Q4 2022.

Tapestry Inc's earnings came in at an EPS of $0.78 per share, 1.00% higher than estimates for an EPS of $0.77 per share. The firm's earnings are up 5% since reporting $0.74 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were downbeat at $1.6 billion. That is an increase of 0.62% in revenues from the year-ago report and is 0.91% lower than consensus estimates set at $1.6 billion.

The stock is up 0.92% to $37.45 after the report.

Tapestry Inc's earnings expanded faster than revenues, signaling widening profit margins.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Tapestry Inc a Bullish Sentiment Rank from InvestorsObserver.

Tapestry Inc has performed a little above average during the past few months. Before the report, Tapestry Inc received a Long-Term Technical Rank by InvestorsObserver of 58, putting it in the top half of stocks. The firm set a 52-week low on May 11, 2022 at $26.39 and set a 52-week high on November 22, 2021 at $47.05.

Coach, Kate Spade, and Stuart Weitzman are the fashion and accessory brands that comprise Tapestry. The firm's products are sold through about 1,400 company-operated stores, wholesale channels, and e-commerce in North America (62% of fiscal 2021 sales), Europe, Asia (33% of fiscal 2021 sales), and elsewhere. Coach (74% of fiscal 2021 sales) is best known for affordable luxury leather products. Kate Spade (21% of fiscal 2021 sales) is known for colorful patterns and graphics. Women's handbags and accessories produced 70% of Tapestry's sales in fiscal 2021. Stuart Weitzman, Tapestry's smallest brand, generates nearly all (99%) of its revenue from women's footwear.

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