Tapestry (TPR) stock up on FQ2 earnings beat and profit outlook hike
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Tapestry lifts 2024 profit forecast on China demand rebound, strong margins
February 8, 2024 6:53 AM ESTBy Savyata Mishra
(Reuters) -Coach parent Tapestry raised its annual profit forecast on Thursday, betting on full-price sales of its premium handbags and early signs of a demand recovery in key market China.
Tapestry's shares closed 6.5% higher after the company also topped sales estimates in the crucial holiday quarter.
Sentiment has improved in Greater China since last year's COVID-related impact, echoing trends seen at luxury retailers Ralph Lauren, Canada Goose and Christian Dior owner... More
Tapestry (TPR) Tops Q2 EPS by 17c, Beats on Revenue; Offers FY24 Guidance
February 8, 2024 6:47 AM ESTTapestry (NYSE: TPR) reported Q2 EPS of $1.63, $0.17 better than the analyst estimate of $1.46. Revenue for the quarter came in at $2.1 billion versus the consensus estimate of $2.05 billion.
GUIDANCE:
Tapestry sees FY2024 revenue of $6.7 billion, versus the consensus of $6.73 billion.
For earnings history and earnings-related data on Tapestry (TPR) click here.
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