Tapestry Surpasses Revenue Expectations Despite Global Market Challenges
The parent company of Coach, Kate Spade, and Stuart Weitzman reports steady growth driven by European sales, while navigating acquisition hurdles and market slowdowns.
- Tapestry's annual revenue reached $6.67 billion, slightly above analyst predictions.
- European sales surged 26%, offsetting declines in China and Japan.
- Coach brand achieved record annual earnings, driven by handbag sales.
- Tapestry is confident in its pending $8.5 billion acquisition of Capri Holdings.
- CEO Joanne Crevoiserat highlights strategic initiatives to drive long-term growth.
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