Tapestry Reports Strong Growth Amid Positive Retail Sales
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 16 2024
0mins
Source: Business Insider
Tapestry Inc. shares rose 4.06% as the stock reached a 20-day high, reflecting strong investor confidence.
Tapestry reported a remarkable 25% year-over-year increase in net sales and a 62% rise in adjusted earnings, driven by strong brand performance, particularly from Coach, which accounted for 88% of total sales. This impressive growth comes amid a backdrop of positive retail sales data, which saw a 0.42% month-over-month increase and a 7.19% year-over-year rise, indicating robust consumer spending despite inflationary pressures. Analysts expect Tapestry to maintain an annual EPS growth of 13% in the coming years, further solidifying its market position.
The strong performance of Tapestry highlights its resilience in the current economic climate, showcasing its ability to leverage brand strength and pricing power. This positions the company favorably for future growth, making it an attractive option for investors looking for stability in the consumer goods sector.
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Analyst Views on TPR
Wall Street analysts forecast TPR stock price to fall
15 Analyst Rating
13 Buy
2 Hold
0 Sell
Strong Buy
Current: 145.490
Low
120.00
Averages
136.57
High
155.00
Current: 145.490
Low
120.00
Averages
136.57
High
155.00
About TPR
Tapestry, Inc. is a house of accessories and lifestyle brands. The Company's global house of brands include Coach and kate spade new york. Coach brand is a global fashion house of accessories and lifestyle collections. Kate Spade New York is a global lifestyle brand that designs things for the everyday, delivering seasonal collections of handbags, ready-to-wear, jewelry, footwear, gifts, home decor and more. Its products include women's handbags, women's accessories, men's and other products. Women's accessories include small leather goods which include mini and micro handbags, money pieces, wristlets, pouches and cosmetic cases. Men's includes bag collections, small leather goods, footwear, watches, sunglasses, and ready-to-wear items. Its products are sold to customers through its direct-to-consumer (DTC), wholesale and licensing businesses. Its DTC business includes retail and outlet stores, branded e-commerce sites as well as concession shop-in-shops.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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See More
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See More
