Tapestry Inc.’s stock TPR soared 9% premarket Thursday, after the parent of the Coach, Kate Spade and Stuart Weitzman brands beat estimates for its fiscal third quarter and raised its full-year guidance.
The company posted net income of $187 million, or 78 cents a share, for the quarter, up from $123 million, or 46 cents a share, in the year-earlier period. Sales rose to $1.51 billion from $1.44 billion a year ago. The FactSet consensus was for EPS of 60 cents and sales of $1.442 billion. Sales at Coach rose 7% to $1.144 billion, while Kate Spade sales were down 1% to $297.2 million and Stuart Weitzman sales rose 7% to...
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