{"id":49840,"date":"2023-08-17T21:48:00","date_gmt":"2023-08-18T01:48:00","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/coach-owner-tapestry-offers-better-than-expected-guidance-despite-an-fq4-miss\/"},"modified":"2023-08-17T21:48:02","modified_gmt":"2023-08-18T01:48:02","slug":"coach-owner-tapestry-offers-better-than-expected-guidance-despite-an-fq4-miss","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=49840","title":{"rendered":"Coach owner Tapestry offers better-than-expected guidance despite an FQ4 miss"},"content":{"rendered":"
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\u00a9 Reuters Coach owner Tapestry (TPR) offers better-than-expected guidance despite an FQ4 miss<\/span>
\n<\/i>\n<\/div>\n

Tapestry (NYSE:) has released its fiscal fourth-quarter results, a few days after it said it reached an agreement to acquire Capri (NYSE:) for $8.5 billion.<\/p>\n

Earnings per share (EPS) for the quarter were $0.95, which fell slightly short of the analyst estimate of $0.97. Quarterly amounted to $1.62 billion, slightly below the consensus estimate of $1.66B.<\/p>\n

\u201cWe drove revenue gains at constant currency, significant gross margin expansion, and double-digit EPS growth despite a rapidly shifting backdrop,\u201d the company said.<\/p>\n

Going forward, the company sees FY EPS in the range of $4.10 to $4.15, which is above the consensus of $3.90.<\/p>\n

The company expects full-year revenue to be between $6.7B and $6.9B, better than the expected $6.7B.<\/p>\n

Tapestry also said it raised its dividend by 17%.<\/p>\n

CFRA analysts downgraded the stock to Hold from Buy yesterday and cut the price target by $11 to $40 per share.<\/p>\n

“We lower our opinion due to the recent news of the Capri, Inc. acquisition… Although we believe the deal will be fruitful over a 3- to 5-year time frame, we don’t expect shares to see significant upside over the next 12 months as the company deals with elevated debt.”<\/p>\n

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Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters Coach owner Tapestry (TPR) offers better-than-expected guidance despite an FQ4 miss Tapestry (NYSE:) has released its fiscal fourth-quarter results, a few days after it said it reached an agreement to acquire Capri (NYSE:) for $8.5 billion. Earnings per share (EPS) for the quarter were $0.95, which fell slightly short of the analyst estimate […]<\/p>\n","protected":false},"author":1,"featured_media":49841,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-49840","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nCoach owner Tapestry offers better-than-expected guidance despite an FQ4 miss | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters Coach owner Tapestry (TPR) offers better-than-expected guidance despite an FQ4 miss Tapestry (NYSE:) has released its fiscal fourth-quarter\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=49840\" 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