Tapestry: Q4 EPS up 27%

(CercleFinance.com) - Tapestry, the parent company of Coach, Kate Spade and Stuart Weitzman, has reported a 27% increase in Q4 EPS to $0.
95, despite flat revenues at $1.62bn (+1% excluding currency effects). NB: pmt -1.3%.

The luxury group reported a significant y-o-y expansion in its operating margin, which rose 0.9% to 16.9%, fueled by a 3.5-point improvement in its gross margin to 72.4%.

Posting a record adjusted EPS of $3.88 and revenues of $6.66bn for FY 2022-23, Tapestry has a respective target range of $4.10-4.15 nearly $6.9bn for the year ahead.

Note that, last week the group announced a 17% increase in its dividend, to an annual rate of $1.40 per share, as well as an agreement to buy Capri Holdings, the parent company of Versace, Jimmy Choo and Michael Kors.


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