The logo of American fashion brand coach was seen in New York on November 19, 2024.
Charly Triballeau | AFP | Getty Images
Coaching parents’ shares tapestry The company beat sales expectations for the holiday quarter and raised its full-year forecast after about 15% of its stock investment during the pre-sale sale period.
The fashion and accessories company said it now expects revenues of more than $6.85 billion for the full year, about 3% higher than the previous year. It expects earnings per share of $4.85 to $4.90. It previously forecasts revenues of more than $6.75 billion for the full year and earnings per share between $4.50 and $4.55.
Strong results for tapestries are less than two months It canceled the merger and Capriafter the plan appeal Blocked transactions. The agreement, the company Have fought in courtcould have married two of the largest luxury homes in the United States and put six fashion brands under one company: Tapestry coaches Kate Spade and Stuart Weitzman with Cards Versace, Jimmy Choo and Michael Kors of Capri.
The results of the tapestry are in sharp contrast to those of Capri. Versace and Michael Kors’ sales fell at double-digit prices during the holiday quarter in Capri, the company reported Wednesday. CEO John Idol took some responsibility, saying the company made mistakes – including cutting down on low-priced accessories that help attract new customers.
According to an LSEG survey of analysts, this is the tapestry report for the second quarter compared to Wall Street estimates: LSEG:
- Earnings per share: $2.00 adjusted with expected $1.75
- Revenue: $2.2 billion versus $21.1 billion expected
The coaches remained the company’s best performance in the holiday quarter, with revenues rising 11% year-on-year. Kate Spade and Stuart Weitzman achieved weaker results, with revenues down 10% and 15% respectively.
On Thursday’s company earnings call, Tapestry Chief Financial Officer Scott Roe said the company’s full-year guidance included additional tariffs on goods imported from China to the U.S. starting February 4. He said there is no expected impact on the company’s performance, as it has very limited manufacturing in China.
He said tapestries are not produced in Canada or Mexico. Roe said during a revenue call in early November that less than 10% of the company’s purchases came from China.
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