— 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%.
Micron Technology Inc. (NASDAQ: MU) reported third quarter 2022 earnings results today. Revenue increased 16% year-over-year to $8.64 billion. GAAP net income was $2.63 billion, or $2.34 per share, compared
Shares of Constellation Brands Inc. (NYSE: STZ) were down 4% on Thursday despite the company beating expectations on its first quarter 2023 earnings results. The stock has dropped 7% year-to-date.
Constellation Brands, Inc. (NYSE: STZ) reported first quarter 2023 earnings results today. Net sales increased 17% year-over-year to $2.3 billion. Net income attributable to CBI was $390 million, or $2.06