— Tapestry Inc. (NYSE: TPR) reported its first-quarter 2020 adjusted earnings of $0.40 per share versus $0.37 per share expected.
— Net sales declined by 2% to $1.36 billion versus $1.37 billion expected.
— Sales for Coach rose by 1% on a reported and constant currency basis. Global comparable store sales increased 1%, including a benefit of about 100 basis points driven by an increase in global e-commerce.
— Sales for Kate Spade fell by 6% on both a reported and constant currency basis. Global comparable store sales dropped by 16%, including the negative impact of about 200 basis points from global e-commerce.
— Sales for Stuart Weitzman decreased by 9% on a reported basis and 8% on a constant currency basis.
— Looking ahead into fiscal 2020, the company expects revenues to increase at a low-single-digit rate from fiscal 2019, and earnings per share to be about even with the prior year.
— Net interest expense for the year is expected to be about $50 million and the full year 2020 tax rate is projected to be in the area of 17.5%.
Get access to timely and accurate verbatim transcripts that are published within hours of the event.
Most Popular
MS Earnings: Morgan Stanley Q1 2025 revenue and earnings beat estimates
Morgan Stanley (NYSE: MS) on Friday reported higher revenues and net profit for the first quarter of 2025. The latest numbers also exceeded analysts’ estimates. The company reported net revenues
WFC Earnings: Key quarterly highlights from Wells Fargo’s Q1 2025 financial results
Wells Fargo & Company (NYSE: WFC) reported its first quarter 2025 earnings results today. Total revenue decreased 3% year-over-year to $20.15 billion. Net income grew 6% to $4.89 billion and
JPM Earnings: All you need to know about JPMorgan’s Q1 2025 earnings results
JPMorgan Chase & Co. (NYSE: JPM) reported its first quarter 2025 earnings results today. Reported net revenue increased 8% year-over-year to $45.3 billion. Managed net revenue was $46 billion, also
