Tapestry: slight decline in Q4 EPS

(CercleFinance.com) - Tapestry has reported Q4 2023-24 adjusted EPS (non-GAAP) that is down 3% to $0.
92, with an adjusted operating margin that slipped 0.4 point to 16.5% on revenues that decreased 2% to $1.59bn. NB: pmt +6%.

At constant exchange rates, the parent company of the Coach, Kate Spade and Stuart Weitzman brands' sales were pretty flat, with a 10% fall in China as a whole, countered by 26% growth in Europe.

Posting a record adjusted EPS of $4.29 for the past financial year, above its target range of $4.20 to $4.25, Tapestry expects EPS of between $4.45 and $4.50 in FY 2024-25, forecasting revenues of around $6.7bn.


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