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Tapestry Earnings: What to Expect This Week
14 Aug
Summary
- Tapestry's prior quarter saw significant revenue growth of 21.2%.
- Analysts expect Tapestry's revenue to increase by 9% year-on-year.
- Tapestry's stock price has risen 17.9% in the last month.
Tapestry, the luxury fashion conglomerate, is scheduled to announce its earnings results this Thursday morning. The company previously reported exceptional results, with revenues reaching $1.92 billion, marking a 21.2% increase compared to the previous year. This performance exceeded analysts' expectations for both earnings per share and EBITDA.
Looking ahead to the current quarter, market expectations point to a 9% year-on-year revenue increase for Tapestry. This projection aligns with the 8.3% growth observed in the same quarter last year. Analysts have maintained their estimates recently, suggesting confidence in the company's steady trajectory.
Competitors in the apparel and accessories sector have shown positive trends. Figs reported a 28.8% revenue growth, outperforming expectations, while Ralph Lauren saw a 14% increase, also beating estimates. Both stocks experienced positive market reactions following their reports.
Tapestry's stock has seen a notable increase of 17.9% in the last month. The stock is heading into the earnings announcement with an average analyst price target of $168.20, a slight premium over its current trading price.
