Shares of Tapestry (NYSE: TPR), the parent of Coach and Kate Spade, were heading lower today after the company beat estimates in its fourth quarter, but gave disappointing guidance for fiscal 2027.
As a result, the stock was down 15.1% as of 12:57 p.m. ET.
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The handbag and accessories company delivered solid results in the fourth quarter with revenue up 9%, or 11% on a pro forma constant currency basis, which adjusts for the sale of Stuart Weitzman, to $1.88 billion, which essentially matched the consensus at $1.87 billion.
Coach, which makes up the vast majority of sales, was particularly strong with 14% constant-currency, and Tapestry delivered gross margin and operating margin expansion for both the quarter and the year. Kate Spade continued to struggle with revenue down 7%.
#company #tapestry #kate
As a result, the stock was down 15.1% as of 12:57 p.m. ET.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
The handbag and accessories company delivered solid results in the fourth quarter with revenue up 9%, or 11% on a pro forma constant currency basis, which adjusts for the sale of Stuart Weitzman, to $1.88 billion, which essentially matched the consensus at $1.87 billion.
Coach, which makes up the vast majority of sales, was particularly strong with 14% constant-currency, and Tapestry delivered gross margin and operating margin expansion for both the quarter and the year. Kate Spade continued to struggle with revenue down 7%.
#company #tapestry #kate
8 days ago
