Tapestry Surpasses Q1 Expectations, Boosts Revenue Outlook

Despite challenges, Tapestry's strategic focus on organic growth and strong brand performance leads to an optimistic fiscal forecast.

Tapestry reported $1.51 billion in sales for Q1, exceeding the $1.47 billion forecasted by analysts.
Coach, Tapestry's flagship brand, saw a 1% revenue increase, reaching $1.2 billion, with popular models like the Tabby and Brooklyn bags driving sales.
The company's earnings per share adjusted to $1.02, surpassing analyst expectations of 95 cents.
Tapestry's attempt to acquire Capri Holdings was blocked by the FTC, leading to a strategic focus on existing brands and organic growth.
Despite a 7% revenue decline for Kate Spade, Tapestry remains confident in its long-term growth strategy, particularly in Europe and Other Asia regions.