{"id":78607,"date":"2022-02-11T12:14:55","date_gmt":"2022-02-11T11:14:55","guid":{"rendered":"https:\/\/test2023.luxus-plus.com\/?p=78607"},"modified":"2022-02-11T13:21:39","modified_gmt":"2022-02-11T12:21:39","slug":"coachs-ownership-group-tapestry-shows-promising-results","status":"publish","type":"post","link":"https:\/\/luxus-plus.com\/en\/coachs-ownership-group-tapestry-shows-promising-results\/","title":{"rendered":"Coach’s ownership group, Tapestry, shows promising results"},"content":{"rendered":"

Tapestry Group on Thursday raised its full-year revenue and profit guidance.<\/h4>\n

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Buoyed by purchases of luxury handbags and apparel in the U.S. and Europe, Tapestry<\/strong> is seeing its stock rise 3% in pre-market trading.<\/p>\n

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Tapestry, which owns Coach, Stuart Weitzman <\/strong>and Kate Spade<\/strong>, raised its share repurchase target for the year to $1.25 billion from $1 billion.<\/strong><\/p>\n

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Tapestry “continues to take a meticulous approach to raising prices and elevating its brand. This is helping to alleviate the freight and other supply chain pressures that are being felt by all<\/em>,” commented Simeon Siegel<\/strong>, an analyst with BMO Capital Markets.<\/strong><\/p>\n

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The luxury goods maker’s gross margin was 68.1% in the second quarter<\/strong>, driven by higher freight costs to maintain product flow and meet consumer demand.<\/p>\n

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The company expects fiscal 2022 sales of about $6.75 billion<\/strong>, up from an estimate of $6.6 billion. It expects annual earnings of $3.60 to $3.65 per share, up from $3.45 to $3.50 previously.<\/p>\n

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Total revenue rose 27 percent to $2.14 billion in the second quarter ended Jan. 1<\/strong>, beating analysts’ average estimate of $2 billion, according to IBES data from Refinitiv<\/strong><\/em>.<\/p>\n

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Read also >\u00a0COACH PUBLISHES ITS RESULTS AND OPTIMISTIC FORECASTS<\/a><\/p>\n

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Featured photo : \u00a9 Coach<\/p>\n","protected":false},"excerpt":{"rendered":"

Tapestry Group on Thursday raised its full-year revenue and profit guidance.<\/p>\n","protected":false},"author":380,"featured_media":78614,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_titles_title":"%%post_title%% %%sep%% %%sitetitle%%","_seopress_titles_desc":"Tapestry Group on Thursday raised its full-year revenue and profit guidance.","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"none","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":301,"_seopress_analysis_target_kw":"BMO Capital Markets.,tapestry,luxury group,kate spade,coach,Stuart Weitzman,luxury goods,bags,ready to wear,clothes,Europe,US","footnotes":""},"categories":[24],"tags":[22419],"class_list":["post-78607","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-news-en"],"_links":{"self":[{"href":"https:\/\/luxus-plus.com\/en\/wp-json\/wp\/v2\/posts\/78607","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/luxus-plus.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/luxus-plus.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/luxus-plus.com\/en\/wp-json\/wp\/v2\/users\/380"}],"replies":[{"embeddable":true,"href":"https:\/\/luxus-plus.com\/en\/wp-json\/wp\/v2\/comments?post=78607"}],"version-history":[{"count":0,"href":"https:\/\/luxus-plus.com\/en\/wp-json\/wp\/v2\/posts\/78607\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/luxus-plus.com\/en\/wp-json\/wp\/v2\/media\/78614"}],"wp:attachment":[{"href":"https:\/\/luxus-plus.com\/en\/wp-json\/wp\/v2\/media?parent=78607"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/luxus-plus.com\/en\/wp-json\/wp\/v2\/categories?post=78607"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/luxus-plus.com\/en\/wp-json\/wp\/v2\/tags?post=78607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}