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Tapestry (TPR) Beats on Q3 Earnings & Revenue Estimates
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Tapestry, Inc. (TPR - Free Report) came out with third-quarter fiscal 2018 results, wherein adjusted earnings of 54 cents per share surpassed the Zacks Consensus Estimate of 50 cents and increased 17.4% year-over-year.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2018 has witnessed upward revisions over the past seven 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 11.9%.
Revenues: Tapestry generated net sales of $1,322.4 million that beat the Zacks Consensus Estimate of $1,304 million and surged 32.9% year over year. On currency-neutral basis, sales improved 30%.
Guidance: Management reiterated its sales guidance for fiscal 2018 and raised the lower-end of its earnings view. It projects revenues to increase nearly 30% year over year to $5.8–$5.9 billion, with low-single digit organic growth. Notably, the Kate Spade acquisition is expected to add more than $1.2 billion to revenues. The company now envisions earnings in the range of $2.57-$2.60 per share up from the earlier guided range of $2.52-$2.60, reflecting an increase of around 19–21%. The earnings view comprises high-single digit accretion from the Kate Spade buyout.
Check back later for our full write up on Tapestry’s earnings report!
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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Tapestry (TPR) Beats on Q3 Earnings & Revenue Estimates
Tapestry, Inc. (TPR - Free Report) came out with third-quarter fiscal 2018 results, wherein adjusted earnings of 54 cents per share surpassed the Zacks Consensus Estimate of 50 cents and increased 17.4% year-over-year.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2018 has witnessed upward revisions over the past seven 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.
Tapestry, Inc. Price, Consensus and EPS Surprise
Tapestry, Inc. Price, Consensus and EPS Surprise | Tapestry, Inc. Quote
In the trailing four quarters, excluding the quarter under review, the company outperformed the Zacks Consensus Estimate by an average of 11.9%.
Revenues: Tapestry generated net sales of $1,322.4 million that beat the Zacks Consensus Estimate of $1,304 million and surged 32.9% year over year. On currency-neutral basis, sales improved 30%.
Guidance: Management reiterated its sales guidance for fiscal 2018 and raised the lower-end of its earnings view. It projects revenues to increase nearly 30% year over year to $5.8–$5.9 billion, with low-single digit organic growth. Notably, the Kate Spade acquisition is expected to add more than $1.2 billion to revenues. The company now envisions earnings in the range of $2.57-$2.60 per share up from the earlier guided range of $2.52-$2.60, reflecting an increase of around 19–21%. The earnings view comprises high-single digit accretion from the Kate Spade buyout.
Zacks Rank: Currently, Tapestry carries a Zacks Rank #2 (Buy) 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!
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>