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4-Traders Homepage  >  Equities  >  Nyse  >  Tapestry Inc    TPR

TAPESTRY INC (TPR)
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Tapestry : Net Rises as Revenue Increases on Kate Spade Deal

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05/01/2018 | 01:44pm CEST

By Carlo Martuscelli

Tapestry Inc. (TPR) on Tuesday reported a 15% rise in the fiscal third-quarter net income, as revenue increased following its acquisition of the Kate Spade brand.

The New York-based luxury fashion company earned a quarterly profit of $140.3 million, or 48 cents a diluted share, up from $122.2 million, or 43 cents a share, for the same period last year. Excluding items, Tapestry reported an adjusted profit of 54 cents a share for the quarter ended March 31, compared with an adjusted profit of 46 cents last year and analysts' forecasts of 50 cents.

Analysts expected a profit of $141 million, or 49 cents a share, according to FactSet.

Sales rose to $1.32 billion from $995.2 million. Analysts' forecasts called for $1.31 billion, according to FactSet.

Chief Executive Victor Luis said "Kate Spade contributed to our overall performance, as we made continued progress on our integration efforts including the realization of synergies and the execution of strategic initiatives."

For fiscal 2018, Tapestry projects operating income growth of at least 22% compared with the year before, driven by mid-single-digit organic growth as well as the Kate Spade purchase and synergies.

Tapestry also predicts earnings of $2.57 to $2.60 a share, an increase of about 19% to 21% for the year, as well as revenue growth of about 30%, to a range of $5.8 billion to $5.9 billion.

Write to Carlo Martuscelli at [email protected]

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Financials ($)
Sales 2018 5 861 M
EBIT 2018 991 M
Net income 2018 347 M
Debt 2018 455 M
Yield 2018 2,84%
P/E ratio 2018 39,56
P/E ratio 2019 16,43
EV / Sales 2018 2,40x
EV / Sales 2019 2,25x
Capitalization 13 640 M
Chart TAPESTRY INC
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Tapestry Inc Technical Analysis Chart | TPR | US8760301072 | 4-Traders
Technical analysis trends TAPESTRY INC
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 35
Average target price 55,8 $
Spread / Average Target 18%
EPS Revisions
Managers
NameTitle
Victor Luís Chief Executive Officer & Director
Todd Kahn President, Secretary, CAO & General Counsel
Olajide James Zeitlin Chairman
Kevin G. Wills Chief Financial Officer
Michael Braine Chief Information Officer
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