Consumer
Tapestry Jumps Most Since 2020 as Coach Drives Outlook Boost
- Annual sales and profit outlook had been raised last year
- Company ended its merger with rival Capri in November
Coach handbags for sale in New York.
Photographer: Michael M. Santiago/Getty Images
This article is for subscribers only.
Tapestry Inc. shares jumped the most since April 2020 after it raised its guidance again for the year on stronger-than-expected sales at its biggest brand Coach.
The handbag company now sees revenue of more than $6.85 billion in the current fiscal year, the company said Thursday in a statement. That would be a 3% increase from the prior year. The company had already raised its sales guidance in November.