|Bid||20.94 x 1200|
|Ask||20.95 x 1400|
|Day's Range||20.11 - 21.16|
|52 Week Range||18.54 - 52.49|
|Beta (3Y Monthly)||1.12|
|PE Ratio (TTM)||9.47|
|Earnings Date||Oct 28, 2019 - Nov 1, 2019|
|Forward Dividend & Yield||1.35 (6.76%)|
|1y Target Est||30.78|
A visit to western Pennsylvania provides insight into how various retailers may be faring and also turns up a county fair controversy.
Investors were disappointed by Tapestry’s fiscal fourth-quarter earnings report and outlook for fiscal-year 2020, sending the stock down 22%.
Coach and Kate Spade parent company Tapestry Inc (NYSE: TPR) saw its stock lose nearly one quarter of its value Thursday in reaction to a poor fiscal fourth-quarter earnings report. The Kate Spade brand is suffering from a "lack of innovation" and the acquired brand isn't contributing growth, Tigress Financial Partners' Ivan Feinseth said. Kate Spate posted a "surprisingly big" decline in the quarter within the "very crowded and fickle" luxury goods industry.
(Bloomberg) -- Disappointing results at Tapestry Inc.’s Kate Spade line prompted a string of rating downgrades on the stock, with analysts saying a recovery may take several quarters.After sliding 22% Thursday to a 10-year low, Tapestry shares pared some of the losses to rise as much as 3.4% in New York on Friday.Here’s a round up of the analyst commentaries post-earnings.Credit Suisse, Michael Binetti“Kate outlook is now significantly reduced due to: 1) A big fourth-quarter same store sales miss; 2) Deteriorating near-term trends; 3) Elevated inventories which will pressure Kate same store sale and gross margin through fiscal 2020.”“With Tapestry offering few details on the timeline back to profitable Kate growth, we downgrade to Neutral despite the stock already pulling back significantly.”Downgrade to neutral from outperform, price target to $22 from $38.MKM Partners, Roxanne Meyer“Kate Spade’s outlook reflects a deterioration of trends that may take several quarters or more to repair.”“While we see limited downside risk to the stock from here, we don’t see a positive catalyst to give us conviction in material upside.”Downgrade to neutral from buy, price target to $21 from $52.Piper Jaffray, Erinn Murphy“While expectations weren’t lofty into this print, the magnitude of Kate Spade’s comp miss and quarter to date trends were far worse than expected.”“We see pressure on the channels that Tapestry sells into (outlets, mall) and prefer to wait for more consistent positive signs of Kate Spade brand momentum and product balance improving.”Downgrade to neutral from overweight, price target to $23 from $40.Telsey Advisory, Dana Telsey“Comp trends at Kate are deteriorating in the current quarter despite the full introduction of new creative director Nicola Glass’s product in full line stores by the end of June.”“While current valuation can offer some downside protection, we see the lack of clarity around the direction of the Kate brand and a second consecutive year of expected flat earnings growth as weighing on upside potential as we enter a more uncertain macro environment.”Downgrade to market perform from outperform, price target to to $22 from $42.(Updates stock move in second paragraph.)To contact the reporter on this story: Esha Dey in New York at email@example.comTo contact the editors responsible for this story: Brad Olesen at firstname.lastname@example.org, Steven Fromm, Scott SchnipperFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Shares of the luxury brands maker rise despite the company's weak fourth-quarter results, lowered guidance and a bearish note from former industry bull MKM Partners.
Corporate America cheered President Donald Trump’s decision this week to delay tariffs on another round of imports from China, yet tension between the White House and Beijing is also disrupting a different kind of valuable arrival into the US. Tens of thousands of Chinese tourists are shunning the country as a holiday destination, and companies from Tiffany to Hyatt Hotels are counting the cost. Tourists from China hold special appeal for US business because of how much they spend.
U.S. stocks rose after investors got positive news on the U.S. consumer. Both the Dow Jones Industrial Average and the S&P 500 were modestly higher.
Weakness at the millennial-centric brand, which Tapestry has grappled to turn around since buying it in 2017, also prompted the company to cut its full-year profit growth expectations. The struggle to clear Kate Spade excess inventory blunted the impact of new collections from Nicola Glass, a Gucci and Michael Kors alumnus, hired by Tapestry last year to refresh the brand's designs. Chief Executive Officer Victor Luis blamed a lack of newness in some Kate Spade satchels and heavy discounts from competing brands for the drop.
* Tapestry Inc reported quarterly adjusted earnings of 61 cents per share for the quarter ended in June. The mean expectation of 26 analysts for the quarter that ended in June was for earnings of 61 cents per share. * Tapestry Inc's Reported EPS for the quarter was 51 cents.
Tapestry's shares (TPR) fall following fourth-quarter fiscal 2019 results. Soft first-quarter fiscal 2020 view hurts investor sentiment.
Coach-owner Tapestry’s stock has fallen sharply in premarket trading as it missed sales estimates and set out disappointing guidance for the coming year.
Tapestry (TPR) delivered earnings and revenue surprises of 0.00% and -1.35%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
Tapestry (NYSE: TPR ) reported fourth-quarter earnings of 61 cents per share, which met the analyst consensus estimate. This is a 1.67%increase over earnings of 60 cents per share from the same period ...
Shares of Tapestry Inc. fell 8% in premarket trade Thursday, after the owner of the Coach, Kate Spade and Stuart Weitzman brands posted weaker-than-expected sales for its fiscal fourth quarter and offered soft guidance. The company said it had net income of $149 million, or 51 cents a share, in its fiscal fourth quarter to June 29, down from $212 million, or 73 cents a share, in the year-earlier period. Adjusted per-share earnings came to 61 cents, matching the FactSet consensus. Sales came to $1.51 billion, up from $1.48 billion, but slightly below the $1.53 billion FactSet consensus. Chief Executive Victor Luis said Coach had a strong year, driven by growth in digital and international, while Kate Spade "did not meet our expectations and more time is required to drive a positive inflection in the business, particularly in light of the traffic-challenged and competitive retail environment in North America. We acknowledge that there are opportunities to improve performance and we are addressing those areas with a sense of urgency." The company is now expecting revenue to rise at a low-single-digit rate in fiscal 2020 and for EPS to be about even with fiscal 2019, with both estimates below FactSet consensus numbers. "The primary change from the prior outlook is the expectation for more modest topline growth at Kate Spade in North America, impacting the company's ability to leverage its strategic investments and fixed costs," the company said. It still expects growth at Coach and profitability improvements at Stuart Weitzman. For the first quarter, it expects revenue to fall slightly and for EPS to decline. Shares have fallen 26% in 2019, while the S&P 500 has gained 13.3%.
Shares of Tapestry plunge after the parent company of high-end luxury fashion brands including Coach, Stuart Weitzman and Kate Spade reports fiscal fourth-quarter earnings that miss analysts' forecasts.
Tapestry, the parent company of Coach and Kate Spade brands, struggles with sluggish demand for its handbags. Yahoo Finance's Akiko Fujita and Heidi Chung discuss.