Wells Fargo kept an Overweight rating on Tapestry but cut its price target to $160 from $165, reflecting concerns about slower future growth. Although Tapestry reported strong Q4 revenue of $1.88 billion, its stock dropped 15.1% due to a soft outlook for fiscal 2027. The Coach brand showed robust growth, especially in Greater China, while Kate Spade faced declining sales. Management projects earnings per share between $7.80 and $7.90 for 2027, which fell short of investor expectations, leading to a reset in growth outlook.
UBS raised its price target for Tapestry to $232, suggesting an 80.7% upside from its current price of $128.39. The upgrade follows Tapestry's strong fiscal 2026 results, including $8 billion in revenue and $7.05 EPS, driven by Coach's 14% growth and...
Tapestry, owner of Coach and Kate Spade, beat Q4 revenue and earnings expectations but saw its stock fall 16.5% due to cautious FY2027 guidance. Revenue rose 8.9% to $1.88 billion and EPS beat estimates at $1.32, with margin expansion. However, the g...
US stock futures showed little movement as investors awaited the Producer Price Index release, which follows a cooling consumer inflation report for July. The softer inflation data has reduced expectations for a September rate hike, though Federal Re...
Several stocks experienced declines despite varying news. Pinterest shares fell due to legal investigations over alleged misleading of investors about advertising revenue and tariffs. Tapestry's stock dropped ahead of its fourth-quarter earnings repo...
