Tapestry Reports Q2 Earnings Beat, Raises FY Outlook
Tapestry Inc. (TPR) reported net income of $310.4 million for the fiscal second quarter, surpassing analysts' expectations. On a per-share basis, the company earned $1.38, exceeding the consensus estimate of $1.74.
Adjusted for merger and acquisition costs, earnings reached $2 per share. Revenue came in at $2.2 billion, also beating Wall Street forecasts of $2.11 billion.
Tapestry raised its full-year earnings guidance to a range of $4.85 to $4.90 per share, with revenue now expected at $6.85 billion.