25.56 0.00 (0.00%)
After hours: 4:23PM EDT
|Bid||25.59 x 1800|
|Ask||25.70 x 1300|
|Day's Range||25.03 - 25.67|
|52 Week Range||18.54 - 43.71|
|Beta (3Y Monthly)||1.31|
|PE Ratio (TTM)||11.57|
|Earnings Date||Oct 28, 2019 - Nov 1, 2019|
|Forward Dividend & Yield||1.35 (5.29%)|
|1y Target Est||28.81|
Used handbags are becoming increasingly popular, and that poses a threat to companies that depend on customers buying new bags, writes UBS analyst Jay Sole in downgrading Tapestry stock to Neutral from Buy. Shares of Tapestry fell 5.2%, to $24.64, on Monday morning. (TPR) (ticker: TPR)--owner of Coach, Kate Spade and Stuart Weitzman brands -- has struggled this year as Kate Spade in particular has not been resonating with customers.
Tapestry Inc. shares sank 5.7% in Monday trading after it was downgraded to neutral from buy at UBS on concerns that the resale market will exert pressure on the company's brands, particularly Coach and Kate Spade. UBS maintained its $25 price target. "Consumers increasingly have the option to purchase a new Coach bag for $400 or a used European luxury brand item for the same price," analysts led by Jay Sole wrote. "We think many shoppers are opting for the latter choice." Analysts say Coach is lowering its prices, with average selling price (ASP) for the brand's handbags falling 5% in September. "Given 'resale' may already account for $24 billion in revenue and is expected to double in just five years, we think the falling ASP trend could continue for many quarters," the note said. Add to that, UBS thinks the turnaround at the Kate Spade brand will take years. Analysts don't think the handbag industry overall will get back to low-single-digit sales growth anytime soon, with mid-tier brands like Coach and Kate Spade at most risk. Tapestry stock has tumbled 44.1% over the past year while the S&P 500 index has gained 7.3% for the period.
The $24 billion resale market for luxury items is emerging as a major threat to the earnings of luxury retailer Tapestry, owner of the Coach brand.
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NEW YORK, Oct. 1, 2019 /PRNewswire/ -- Coach announces the launch of Coach x Michael B. Jordan, the first-of-its-kind creative collaboration with actor, producer and first global face of Coach menswear, Michael B. Jordan. Inspired by his cultural influences and community, his love of Naruto, and his passion for bringing unique voices to the forefront, this unisex ready-to-wear, footwear and bag collection is Jordan's first foray into fashion design, guided by the expertise of Coach Creative Director Stuart Vevers.
September's big S&P; 500 stock and sector winners surprised just about everyone — as the rallies came out of nowhere. But can they last?
Tapestry (TPR) acquired the Kate Spade brand with hope to consolidate its position as a multi-brand company. However, the brand's performance failed to live up to management's expectations.
This weekend's Barron's offers a look at what's in store for North American railroad stocks. Other featured articles discuss changing oil stock dividends and potential results from a major media merger. "Railroad Stocks Could Run Out of Steam" by Bill Alpert suggests that cost-cutting is boosting profits for North American railroads, but declining freight volumes and increasing competition from truckers may pull the brakes on growth at the likes of CSX Corporation (NASDAQ: CSX).
The accessories company has endured an awful year. But strong cash flow and continued success at Coach bode well for investors.
Tapestry, Inc. (NYSE: TPR), the New York-based house of luxury accessories and lifestyle brands, said Thursday it has partnered with with Alibaba Group Holding Ltd - ADR (NYSE: BABA)'s Tmall, a China-focused e-commerce platform. Tapestry said it will be one of the first companies to collaborate with Tmall in adopting the recently unveiled Flagship Store 2.0 beginning later this month. The platform will provide Tapestry's brands with tools to feature customized content and offer shopping experiences for customers.
Tapestry, Inc. (TPR), a global house of modern luxury accessories and lifestyle brands, today announces a strategic partnership with Alibaba’s Tmall, China’s largest B2C ecommerce platform. This alliance marks a step forward in Tapestry’s ChinaNext digital innovation agenda. Tapestry will be one of the first companies to collaborate with Tmall in adopting the recently unveiled Flagship Store 2.0, beginning later this month.
On CNBC's "Fast Money Halftime Report," Pete Najarian said options traders were buying the Oct. $25 calls in Tapestry Inc (NYSE: TPR). Najarian decided to follow the trade and he is planning to hold the position for a month or a month and a half. Pete Najarian noticed a purchase of 6,000 contracts of the Sept. $30 calls in Altice USA Inc (NYSE: ATUS).
Tapestry, Inc. (TPR), a leading New York-based house of modern luxury accessories and lifestyle brands, today announced it has signed the Open to All pledge, in support of the ethos that when “a business opens its doors to the public, it should be open to all.” Tapestry was joined by over 50 fashion houses and brands, the Council of Fashion Designers of America (CFDA), the CEO Action for Diversity & Inclusion and the Open to All campaign, to make a powerful statement about the industry’s commitment to fostering inclusivity and protecting equality.
Tapestry Inc replaced Chief Executive Officer Victor Luis with long-time Chairman Jide Zeitlin on Wednesday, just weeks after the high-end fashion house cut its full-year earnings forecast and warned of troubles at its Kate Spade brand. Under Luis, the company changed its name to Tapestry from Coach and added shoemaker Stuart Weitzman and millennial-focused Kate Spade to win new customers.
The parent company of Coach appoints a new CEO as PVH Corp. surges after its CEO buys roughly $10M-worth of shares. Yahoo Finance's Akiko Fujita and Ines Ferre discuss.
Coach owner Tapestry named Chairman Jide Zeitlin as its new CEO after its former CEO Victor Luis stepped down. Yahoo Finance's Brian Sozzi had a chance to go inside the C-Suite to see how this change-up came about and what this means for investors.