Tapestry Inc. beats expectations with fiscal Q2 results

  • Tapestry’s stock surges 4.1% to a six-month high after strong Coach sales
  • Fiscal Q2 net income of $322.3 million, beating expectations
  • Adjusted earnings per share of $1.63, surpassing the consensus of $1.46
  • Sales grew 2.9% to $2.08 billion, exceeding the consensus of $2.06 billion
  • Coach sales increased 6.4% to $1.54 billion
  • Kate Spade sales declined 6.1% to $460.4 million
  • Stuart Weitzman sales fell 3.7% to $82.2 million
  • Full-year profit outlook raised, EPS guidance range now $4.20 to $4.25
  • Stock has soared 46.9% over the past three months

Shares of Tapestry Inc. surged 4.1% to a six-month high after the parent company of Coach and Kate Spade reported fiscal second-quarter results that exceeded expectations. Net income for the quarter was $322.3 million, beating the year-ago period. Adjusted earnings per share of $1.63 surpassed the consensus of $1.46. Sales grew 2.9% to $2.08 billion, with Coach sales increasing 6.4% to $1.54 billion. However, Kate Spade sales declined 6.1% to $460.4 million and Stuart Weitzman sales fell 3.7% to $82.2 million. Tapestry also raised its full-year profit outlook and now expects EPS in the range of $4.20 to $4.25. The stock has seen a significant increase of 46.9% over the past three months.

Public Companies: Tapestry Inc. (TPR)
Private Companies: undefined, undefined, undefined
Key People:

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Factuality Level: 8
Justification: The article provides specific financial information about Tapestry Inc.’s fiscal second-quarter results, including net income, adjusted earnings per share, and sales figures. It also mentions that the company raised its full-year profit outlook. The information is based on the company’s official financial statements and can be verified. However, the article does not provide any analysis or context beyond the numbers, which limits its overall factuality level.

Noise Level: 3
Justification: The article provides straightforward information about Tapestry Inc.’s fiscal second-quarter results, including its net income, adjusted earnings per share, and sales figures. It also mentions the company’s raised profit outlook for the full year. However, the article lacks in-depth analysis, scientific rigor, and intellectual honesty. It does not explore long-term trends or antifragility, nor does it hold powerful people accountable or provide actionable insights or solutions. Overall, the article is mostly focused on reporting financial data without providing much context or critical analysis.

Financial Relevance: Yes
Financial Markets Impacted: Shares of Tapestry Inc. (parent company of Coach and Kate Spade fashion brands)

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to financial topics as it discusses the financial performance of Tapestry Inc. and its impact on the stock market. There is no mention of any extreme event.

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