Tapestry Inc.'s stock experienced a significant surge of 9.02% during intraday trading on Thursday, reflecting strong investor sentiment following the company's latest financial disclosures.

The sharp rise is attributed to the company reporting fiscal second-quarter results that substantially exceeded analyst expectations. Tapestry posted adjusted earnings per share of $2.69, beating the consensus estimate of $2.22, while revenue reached $2.5 billion, surpassing the forecast of $2.32 billion. A key driver was the remarkable 25% surge in sales for its Coach brand, fueled by strong demand for its Tabby handbags among Gen Z consumers.

Furthermore, the company raised its full-year outlook, now expecting revenue to exceed $7.75 billion and adjusted EPS in the range of $6.40 to $6.45, both figures well above previous guidance and analyst estimates. The positive momentum was also supported by an increased share buyback plan of approximately $1.2 billion and significant operating margin expansion.