27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
- Tapestry Inc (NYSE:TPR), the New York-based house of lifestyle brands consisting of Coach, Kate Spade, and Stuart Weitzman, reported a second-quarter FY23 sales decline of 5% year-on-year to $2.025 billion, marginally missing the analyst consensus of $2.03 billion.
- Adjusted EPS of $1.33 beat the analyst consensus of $1.27.
- Gross profit fell 4.7% Y/Y to $1.39 billion, with the margin expanding 50 basis points to 68.6%.
- Operating margin contracted 100 basis points to 20.6%, and operating income for the quarter decreased 9.7% to $418 million.
- Tapestry held $846 million in cash and equivalents as of Dec. 31, 2022.
- Inventory at the end of Q2 rose 30.1% to $976 million. The company said it remains on track to end the fiscal year with inventory up single digits versus the prior year.
- Tapestry is on track to repurchase $700 million in common stock in the current fiscal year. During the first six months of FY23, Tapestry spent $300 million to repurchase 8.4 million shares.
- TPR continues to anticipate paying an annual dividend of $1.20 per share, representing a 20% increase compared to prior year, totaling approximately $300 million.
- Outlook: Tapestry raised its FY23 EPS outlook from $3.60-$3.70 to $3.70-$3.75 versus the consensus of $3.65.
- The company expects FY23 sales of $6.6 billion (prior view $6.5 billion - $6.6 billion) versus the consensus of $6.61 billion.
- Price Action: TPR shares are trading higher by 6.07% at $45.83 on the last check Thursday.
- Photo Via Company
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
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