TPR Stock Recent News

The U.S. anti-trust trial over the $8.5 billion bid by luxury goods maker Tapestry to buy Capri concluded on Monday, with Tapestry lawyers citing an "intensely competitive" handbag market in defending against claims that consumers would face higher prices.

Fashion designer Michael Kors testified Monday about competition in the handbag industry. The Federal Trade Commission is seeking to block Tapestry's $8.5 billion acquisition of Capri, which would put six brands including Michael Kors and Coach under a single company.

Coach's owner Tapestry and Michael Kors' owner Capri are in the courtroom this week for a federal antitrust challenge. The companies are trying to combine into a single company, after announcing the $8.5 million acquisition last year.

Explore how Tapestry's (TPR) revenue from international markets is changing and the resulting impact on Wall Street's predictions and the stock's prospects.

I recommend a hold rating for Tapestry, Inc. due to uncertainties and overhangs, expecting the stock to remain range-bound in the near term. Tapestry's 4Q24 results showed mixed performance, with revenue declines in key brands but improved profitability driven by operational efficiencies and cost management. The Capri acquisition adds further uncertainty, with management's synergy expectations implicitly lowered and Capri's recent poor financial performance raising execution concerns.

Tapestry, Inc. (NYSE:TPR ) Q4 2024 Earnings Conference Call August 15, 2024 8:00 AM ET Company Participants Christina Colone - Global Head, Investor Relations Joanne Crevoiserat - Chief Executive Officer Scott Roe - Chief Financial Officer & Chief Operating Officer Todd Kahn - Chief Executive Officer & Brand President, Coach Conference Call Participants Bob Drbul - Guggenheim Securities Ike Boruchow - Wells Fargo Matt Boss - JPMorgan Lorraine Hutchinson - Bank of America Brooke Roach - Goldman Sachs Michael Binetti - Evercore ISI Rick Patel - Raymond James Aneesha Sherman - Bernstein Mark Altschwager - Baird Oliver Chen - TD Cowen Operator Good day, and welcome to the Tapestry Conference Call. Today's call is being recorded.

Tapestry (TPR) attracts 6.5 million new customers in North America, with more than 50% belonging to Gen Z and millennial demographics during fiscal 2024.

Tapestry (TPR) shares gained in intraday trading Thursday as the fashion designer posted better-than-anticipated results on strong demand in Europe.

The headline numbers for Tapestry (TPR) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Tapestry (TPR) came out with quarterly earnings of $0.92 per share, beating the Zacks Consensus Estimate of $0.88 per share. This compares to earnings of $0.95 per share a year ago.