Tapestry Reports Mixed Q1 Earnings

Tapestry TPR on Tuesday reported fiscal first-quarter earnings of 40 cents per share, which beat the analyst consensus estimate of 36 cents by 11.11%. This is a 16.67% decrease over earnings of 48 cents per share from the same period last year.

The company reported quarterly sales of $1.36 billion, which missed the analyst consensus estimate of $1.37 billion by 0.73%. This is a 1.52% decrease over sales of $1.381 billion the same period last year.

“Our business internationally was stronger than in North America where we managed continued industry headwinds,” CEO Jide Zeitlin said in a statement. “Further, adjusted operating income and earnings per diluted share were better than forecast, including favorable expense timing. We repurchased $300 million of common stock during the quarter, underscoring our commitment to returning capital to shareholders.”

Tapestry shares were trading lower by 0.45% at $26.40 in Tuesday’s pre-market session. The stock has a 52-week high of $43.71 and a 52-week low of $18.54.

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