By Dean Seal
Tapestry raised its fiscal full-year guidance after a strong third quarter in which gains for the Coach brand boosted sales and earnings.
The owner of Kate Spade, Coach and other luxury brands said it now expects revenue to rise 4% to $6.95 billion for the full fiscal year that ends in June, up from a prior forecast for 3% growth. Earnings are now projected to hit $5 a share, instead of $4.85 to $4.90 a share as previously predicted.
The outlook accounts for the global tariffs launched this year, which should be immaterial to Tapestry's fiscal 2025 due to the timing of sell-throughs and in-transits, the company said.
Shares rose 7.2% to $80.15 in premarket trading.
For the first three months of 2025, Tapestry posted a profit of $203 million, or 95 cents a share, compared with $139.4 million, or 60 cents a share, in the same quarter a year earlier.
Stripping out one-time items, adjusted earnings were $1.03 a share. Analysts polled by FactSet had been expecting 88 cents a share.
Sales climbed 7% to $1.58 billion, topping analyst projections for $1.53 billion, according to FactSet.
The Coach brand, Tapestry's largest by revenue, logged a 13% gain to reach $1.29 billion in sales. The smaller Kate Spade and Stuart Weitzman brands meanwhile recorded 13% and 18% declines, respectively.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
May 08, 2025 07:09 ET (11:09 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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