Tapestry Inc is a global luxury fashion holding company that encompasses a diverse portfolio of renowned brands, including Coach, Kate Spade, and Stuart Weitzman
The company focuses on designing, marketing, and selling high-quality accessories, apparel, and footwear, appealing to a wide range of consumers. Tapestry emphasizes a commitment to craftsmanship, creativity, and innovation in its products, which are sold through various retail channels, including e-commerce and brick-and-mortar stores. By integrating digital and physical shopping experiences, Tapestry strives to foster brand loyalty and deliver exceptional customer experiences in the competitive luxury marketplace.
Tapestry surpassed market expectations in its Q2 fiscal 2025 earnings, driven by strong performances from its Coach brand, resulting in raised guidance despite challenges with other segments.
Shares of luxury fashion conglomerate Tapestry (NYSETPR)
jumped 18.3% in the pre-market session after the company delivered a "beat-and-raise" quarter, its first since the $8.5 billion acquisition of Capri Holdings was called off due to antitrust concerns. Tapestry blew past analysts' constant currency revenue expectations. Its full-year revenue guidance was lifted, and full-year EPS guidance came in much higher than Wall Street's estimates. You may have noticed that EPS missed, but this was largely due to a one-time debt extinguishment charge rather than something fundamental. Overall, this quarter was very good.
Let's have a look at what is happening on the US markets in the middle of the day on Thursday. Below you can find the top S&P500 gainers and losers in today's session.
Luxury fashion conglomerate Tapestry (NYSETPR) announced better-than-expected revenue in Q4 CY2024, with sales up 5.3% year on year to $2.20 billion. The company’s full-year revenue guidance of $6.85 billion at the midpoint came in 1.4% above analysts’ estimates. Its GAAP profit of $1.38 per share was 12.7% below analysts’ consensus estimates.
Let's have a look at what is happening on the US markets before the opening bell on Thursday. Below you can find the top S&P500 gainers and losers in today's pre-market session.
It's a mixed session on Wall Street, with major indices struggling for direction as investors hold their breath ahead of a key jobs report set for Friday morning. The S&P 500 and the Nasdaq 100 edged up 0.3%, while the Dow Jones slipped 0.1% and small caps held steady.
Tapestry, which owns Coach, Kate Spade and Stuart Weitzman brands, reported second-quarter revenue of $2.2 billion, beating analyst estimates of $2.11 billion, according to Benzinga Pro. The company reported second-quarter adjusted earnings of $1.39 per share, missing analyst estimates of $1.75 per share.
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Tapestry has been on fire lately. In the past six months alone, the company’s stock price has rocketed 56.7%, reaching $65.80 per share. This was partly due to its solid quarterly results, and the run-up might have investors contemplating their next move.
