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Tapestry Inc., the parent company of Coach, reported third-quarter revenue below Wall Street expectations and subsequently lowered its annual sales forecast due to weak demand for its handbags and accessories. Despite this, the company's stock fell even after beating earnings expectations. Tapestry now expects annual revenue of over $6.6 billion, roughly in line with the previous year on a reported basis and representing about 1% growth on a constant currency basis.
$TPR Guidance: "We expect revenue of over $6.6 billion, approximately in line with the prior year on a reported basis and representing growth of about 1% on a constant currency basis. Moving to sales details by region at constant currency. In North America, we expect revenue to… https://t.co/VZRRAQ7EHX
Coach parent Tapestry lowers annual sales forecast on weak demand https://t.co/oUuO4B2Mya https://t.co/hlagzWcsC0
Tapestry Stock Falls After Earnings Beat. Here’s Why. https://t.co/kUBiqKe2Pv
