Tapestry (TPR) Reports Q2 Earnings: What Key Metrics Have to Say

Tapestry (TPR) reported $2.08 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 2.9%. EPS of $1.63 for the same period compares to $1.36 a year ago.

The reported revenue represents a surprise of +1.44% over the Zacks Consensus Estimate of $2.05 billion. With the consensus EPS estimate being $1.45, the EPS surprise was +12.41%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Tapestry performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Net Sales- Coach: $1.54 billion versus $1.50 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +6.4% change.
  • Net Sales- Stuart Weitzman: $82.20 million compared to the $82.80 million average estimate based on four analysts. The reported number represents a change of -3.8% year over year.
  • Net Sales- Kate Spade: $460.40 million versus the four-analyst average estimate of $477.45 million. The reported number represents a year-over-year change of -6.1%.
  • Operating income (loss)- Coach: $528.30 million versus the three-analyst average estimate of $471.79 million.
  • Operating income (loss)- Stuart Weitzman: $1.40 million versus $2.30 million estimated by three analysts on average.
  • Operating income (loss)- Kate Spade: $72.10 million versus $78.20 million estimated by three analysts on average.
View all Key Company Metrics for Tapestry here>>>

Shares of Tapestry have returned +7.6% over the past month versus the Zacks S&P 500 composite's +6.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Zacks Names #1 Semiconductor Stock

It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.

With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.

See This Stock Now for Free >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Tapestry, Inc. (TPR) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.