Market Overview

Tapestry Reports Mixed Q1 Earnings

Share:
Tapestry Reports Mixed Q1 Earnings

Tapestry (NYSE: TPR) on Tuesday reported fiscal first-quarter earnings of 40 cents per share, which beat the analyst consensus estimate of 36 cents by 11.11%. This is a 16.67% decrease over earnings of 48 cents per share from the same period last year.

The company reported quarterly sales of $1.36 billion, which missed the analyst consensus estimate of $1.37 billion by 0.73%. This is a 1.52% decrease over sales of $1.381 billion the same period last year.

“Our business internationally was stronger than in North America where we managed continued industry headwinds,” CEO Jide Zeitlin said in a statement. “Further, adjusted operating income and earnings per diluted share were better than forecast, including favorable expense timing. We repurchased $300 million of common stock during the quarter, underscoring our commitment to returning capital to shareholders.”

Tapestry shares were trading lower by 0.45% at $26.40 in Tuesday’s pre-market session. The stock has a 52-week high of $43.71 and a 52-week low of $18.54.

Photo by Fashionmouse/Wikimedia.

Posted-In: Earnings News Pre-Market Outlook

 

Related Articles (TPR)

View Comments and Join the Discussion!
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com