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Home»Finance»Tapestry lifts forecasts on booming demand for Coach handbags
Finance

Tapestry lifts forecasts on booming demand for Coach handbags

May 10, 2025No Comments2 Mins Read
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Tapestry lifts forecasts on booming demand for Coach handbags
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By Savyata Mishra

(Reuters) -Tapestry on Thursday raised its 2025 income and revenue forecasts for a 3rd time this yr, benefiting from larger full-price sale of its standard Coach purses and restricted publicity to the sweeping U.S. tariffs.

Regular demand for the corporate’s Tabby, Brooklyn and Empire leather-based purses amongst youthful buyers in North America, Europe and China helped it beat third-quarter outcomes expectations.

The corporate’s gross sales have been boosted by product improvements, a pointy advertising and marketing technique and full-price promoting and are available regardless of a downturn within the luxurious market that has damage gamers resembling French luxurious teams LVMH and Kering.

“Tapestry, has discovered a candy spot within the luxurious meals chain … siphoning off high-end prospects now reconsidering whether or not they really want a five-figure purse,” mentioned Michael Ashley Schulman, chief funding officer at Working Level Capital Advisors.

Tapestry’s value will increase boosted margins, which grew 140 foundation factors within the quarter from final yr. Its Empire luggage are priced between $250 and $895 on Coach’s web site, whereas Tabby’s commonplace shoulder luggage promote for $450.

Coach merchandise are made in Vietnam, Cambodia, the Philippines and India with no vendor offering 10% or extra of whole stock purchases, in line with Tapestry’s 2024 annual report. It additionally had restricted publicity to China.

The corporate’s shares shed some early features to commerce 5% larger after the Kate Spade-owner gave a conservative revenue forecast for the fourth quarter as a result of macroeconomic uncertainty.

Firm executives mentioned Tapestry introduced in stock to the U.S. forward of tariffs going into impact in April and was optimizing its world provide chain to reduce publicity to duties.

It expects revenue of round $5 per share, in comparison with a previous forecast of $4.85 to $4.90. Annual income is projected to be about $6.95 billion, in comparison with its earlier expectation of greater than $6.85 billion.

Internet gross sales for the quarter ended March 29 got here in at $1.58 billion, above estimate of $1.53 billion, in line with information compiled by LSEG. It earned $1.03 per share, beating estimates of 88 cents.

(Reporting by Savyata Mishra in Bengaluru; Enhancing by Arun Koyyur)

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