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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.


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