Tapestry Inc. (NYSE: TPR), a leading luxury fashion company, on Thursday reported a decrease in net sales and adjusted earnings for the fourth quarter of 2024.
- Q4 net sales totaled $1.59 billion compared to $1.62 billion in the prior year period, representing a year-over-year decline of 2%
- Net income was $159 million in Q4, with EPS of $0.68, compared to $224 million or $0.95 per share in Q4 2023
- Adjusted net income decreased to $217 million or $0.92 per share in the fourth quarter from $224 million or $0.95 per share last year
- Gross profit totaled $1.19 billion in Q4, while gross margin was 74.9%, vs. $1.17 billion in the prior-year quarter, representing a gross margin of 72.4%
- Q4 operating income was $235 million, while operating margin was 14.8%, vs. $274 million operating profit and a 16.9% operating margin Q4 2023