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MarketScreener Homepage  >  Equities  >  Nyse  >  Tapestry Inc    TPR

TAPESTRY INC

(TPR)
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Tapestry : Shares Fall 12% as Results Miss Estimates

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02/07/2019 | 08:49am EDT

By Allison Prang

Tapestry Inc. on Thursday reported a higher second-quarter profit but results missed Wall Street estimates and same-store sales at its Kate Spade brand tumbled 11%.

The owner of the Coach and Kate Spade brands posted a profit of $254.8 million, or 88 cents a share, compared with $63.2 million, or 22 cents a share, for the comparable quarter a year earlier. A lower provision for income taxes and a 0.8% dip in selling, general and administrative expenses helped the company's profit.

On an adjusted basis, Tapestry said earnings were $1.07 a share, flat from the comparable quarter a year prior. Analysts polled by Refinitiv were expecting $1.11 a share.

Shares of Tapestry fell 12% in premarket trading.

Comparable-store sales at Coach rose 1% while comparable-store sales for Kate Spade fell 11%. Analysts polled by Consensus Metrix were expecting them to increase 1.8% for Coach and fall 3.3% for Kate Spade.

Net sales at the New York-based company climbed 0.9% to $1.8 billion. Analysts polled by Refinitiv were expecting $1.86 billion.

Capri Holdings Ltd., the owner of the Michael Kors and Jimmy Choo brands that also recently bought Versace, reported Wednesday that sales were flat when compared with the third quarter a year prior. Profit also declined.

Capri lowered its guidance for adjusted earnings for the fiscal year but raised its revenue estimate.

Write to Allison Prang at allison.prang@wsj.com

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Financials (USD)
Sales 2020 6 149 M
EBIT 2020 928 M
Net income 2020 731 M
Debt 2020 329 M
Yield 2020 5,58%
P/E ratio 2020 9,74x
P/E ratio 2021 9,05x
EV / Sales2020 1,23x
EV / Sales2021 1,16x
Capitalization 7 211 M
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Technical analysis trends TAPESTRY INC
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TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 27,56  $
Last Close Price 25,14  $
Spread / Highest target 90,9%
Spread / Average Target 9,62%
Spread / Lowest Target -20,4%
EPS Revisions
Managers
NameTitle
Victor Luís Chief Executive Officer & Director
Leonard Todd Kahn President, Secretary & Chief Legal Officer
Olajide James Zeitlin Chairman
Andrea Shaw Resnick CFO, Global Head-IR & Corporate Communications
Michael Braine Chief Information Officer
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