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Tapestry: Fiscal 2Q Earnings Snapshot

NEW YORK (AP) -- Tapestry Inc. (TPR) on Thursday reported fiscal second-quarter earnings of $254.8 million.

The New York-based company said it had profit of 88 cents per share. Earnings, adjusted for pretax expenses and costs related to mergers and acquisitions, were $1.07 per share.

The results missed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.11 per share.

The maker of high-end shoes and handbags posted revenue of $1.8 billion in the period, which also fell short of Street forecasts. Nine analysts surveyed by Zacks expected $1.86 billion.

Tapestry expects full-year earnings in the range of $2.55 to $2.60 per share.

Tapestry shares have risen 16 percent since the beginning of the year. The stock has declined 20 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TPR at https://www.zacks.com/ap/TPR