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Tapestry (TPR) Beats on Q1 Earnings, Revenues Miss Estimates
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Tapestry, Inc. (TPR - Free Report) – formerly known as Coach, Inc. –came out with first-quarter fiscal 2018 results, wherein adjusted earnings of 42 cents surpassed the Zacks Consensus Estimate of 36 cents but declined 6.7% year over year.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2018 has been stable over the past 30 days. Moreover, Tapestry’s performance in the trailing four quarters gives a positive picture. The company has posted positive earnings surprises in all the four quarters. In the trailing four quarters, excluding the quarter under review, the company outperformed the Zacks Consensus Estimate by an average of 2.9%.
Revenues: Tapestry generated net sales of $1,288.9 million that missed the Zacks Consensus Estimate of $1,304 million but jumped 24.2% year over year.
Guidance: Management continues to expect fiscal 2018 revenue to increase approximately 30% year over year to $5.8–$5.9 billion, with low-single digit organic growth and Kate Spade acquisition adding more than $1.2 billion in revenue. The company continues to envision earnings in the range of $2.35-$2.40 per share, reflecting an increase of approximately 10–12%, comprising low-to-mid-single digit accretion from the Kate Spade buyout.
Check back later for our full write up on Tapestry’s earnings report!
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Tapestry (TPR) Beats on Q1 Earnings, Revenues Miss Estimates
Tapestry, Inc. (TPR - Free Report) – formerly known as Coach, Inc. –came out with first-quarter fiscal 2018 results, wherein adjusted earnings of 42 cents surpassed the Zacks Consensus Estimate of 36 cents but declined 6.7% year over year.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2018 has been stable over the past 30 days. Moreover, Tapestry’s performance in the trailing four quarters gives a positive picture. The company has posted positive earnings surprises in all the four quarters.
In the trailing four quarters, excluding the quarter under review, the company outperformed the Zacks Consensus Estimate by an average of 2.9%.
Revenues: Tapestry generated net sales of $1,288.9 million that missed the Zacks Consensus Estimate of $1,304 million but jumped 24.2% year over year.
Guidance: Management continues to expect fiscal 2018 revenue to increase approximately 30% year over year to $5.8–$5.9 billion, with low-single digit organic growth and Kate Spade acquisition adding more than $1.2 billion in revenue. The company continues to envision earnings in the range of $2.35-$2.40 per share, reflecting an increase of approximately 10–12%, comprising low-to-mid-single digit accretion from the Kate Spade buyout.
Tapestry, Inc. Price, Consensus and EPS Surprise
Tapestry, Inc. Price, Consensus and EPS Surprise | Tapestry, Inc. Quote
Zacks Rank: Currently, Tapestry carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on Tapestry’s earnings report!
Zacks' Hidden Trades
While we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?
Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors.
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