By
Reuters
Published
May 8, 2025
Tapestry raised its 2025 revenue and profit forecasts for the third time this year on Thursday, benefiting from strong full-price sales of its Coach handbags and limited exposure to sweeping U.S. tariffs.
The company’s shares rose 14% in premarket trading after steady demand for its Tabby, Brooklyn and Empire leather handbags among younger shoppers in North America and China helped it surpass third-quarter sales expectations.
Despite a broader downturn in the luxury market affecting players such as French conglomerates LVMH and Kering, Tapestry’s results reflected gains from product innovations, a sharp marketing strategy and consistent full-price selling.
The company now expects earnings of around $5 per share, up from its previous forecast of $4.85 to $4.90. For the quarter ended March 29, Tapestry posted net sales of $1.58 billion, exceeding analysts’ average estimate of $1.53 billion, according to LSEG data.
Tapestry now anticipates annual revenue of approximately $6.95 billion, compared to its earlier February projection of more than $6.85 billion.
FashionNetwork.com with Reuters
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