Tapestry: EPS up 4% in Q3

(CercleFinance.com) - Tapestry reports adjusted Q3 2023-24 EPS (non-GAAP) that is up 4% at $0.
81, with an adjusted operating margin improving 1.1 point to 16.1%, despite revenues falling 2% to $1.48bn.

At constant exchange rates, the parent company of the Coach and Kate Spade brands posted pretty flat sales, with a 3% fall in North America having been offset by a symmetrical increase internationally, driven by Europe (+19%).

Tapestry confirms its FY adjusted EPS target of between $4.20 and $4.25, but adjusts its revenue assumption to 'over $6.6bn', compared with the previous estimate of 'around $6.7bn'.


Copyright (c) 2024 CercleFinance.com. All rights reserved.