Tapestry, Inc. Reports Fiscal 2020 Second Quarter Results
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Tapestry (TPR) Tops Q2 EPS by 9c, Revenues Beat; Lowers FY20 EPS/Revenue Guidance Below Consensus on Coronavirus Impact
February 6, 2020 6:48 AM ESTTapestry (NYSE: TPR) reported Q2 EPS of $1.08, $0.09 better than the analyst estimate of $0.99. Revenue for the quarter came in at $1.82 billion versus the consensus estimate of $1.81 billion.
Overview of Second Quarter 2020 Tapestry, Inc. Results:
Net sales totaled $1.82 billion for the fiscal second quarter as compared to $1.80 billion in the prior year, an increase of 1% on a reported and constant currency basis.Gross profit totaled $1.21 billion on a reported basis, while gross margin for the quarter was 66.6% compared to $1.20 billion and 66.8%, respectively, in the prior year. On a non-GAAP basis, gross profit... More