Economic Overview - Low to middle-income consumers are reducing spending to pay down credit card debt, while affluent consumers continue to spend selectively [1][2] - The economy is divided, with strong revenue and earnings growth reported by many companies despite market uncertainty [2] Company Analysis: Tapestry Inc. (TPR) - Tapestry is known for luxury accessories and lifestyle products, with a current stock price of $70.65 and a price target of $78.00, indicating a 12% upside potential [3][5] - The company reported record earnings per share of $2 in Q2 FY2025 and achieved a net paydown yield of 38% over the last 12 months [4][5] - Analysts have a Moderate Buy rating on TPR, with some price targets adjusted but remaining above the consensus price [5][6] Company Analysis: On Holding AG (ONON) - On Holding specializes in high-end footwear and apparel, with a current stock price of $48.11 and a price target of $58.77, suggesting a 23% increase potential [7][10] - The company uses over 30% recycled or renewable materials in its products, appealing to younger consumers [8] - Despite a recent double beat in earnings, ONON stock is down over 13% in 2025 due to concerns over exposure to China amid tariff issues [9][10] Company Analysis: Viking Holdings Ltd. (VIK) - Viking Holdings, a newcomer in the luxury cruise market, has a current stock price of $41.02 and a price target of $46.89, indicating potential growth [12] - The company is 88% booked for 2025 and does not anticipate cancellations due to market weakness, suggesting resilience in the cruise line industry [14] - Despite volatility typical of newly public companies, VIK stock has increased nearly 50% since its launch [14]

国产女包的"有限"突围。 文 ｜ 张晶 编辑 ｜ 薇薇子 来源｜ 潮生TIDE（ID： chaoshengTIDE） 封面来源 ｜ 受访者提供 以下文章来源于潮生TIDE ，作者张晶、薇薇子 潮生TIDE . 36氪旗下生活方式内容品牌。潮来潮去，生活不息。 买包"新变量" 起步于轻奢，迷恋过大牌，止步于珑骧，这曾经是大多数女性买包的进阶之路。但是现在，这条路径有了新的变量——国产包，它可以是买包的起点，也 可以是终点。 36岁的小满就是非常典型的这类女性：她起步于轻奢，迷恋过大牌，又转投国产女包。 没有人否认，包包有很强的社交属性。十多年前，她刚参加工作，轻奢之王COACH就是她能"够得上"的奢侈品，"买COACH也是想证明自己有能力买奢 侈品。" 那个时候，小满托出国的朋友去COACH店里扫货。她背着几个COACH包包几乎横扫各大社交场合。 十多年后的今天，她再背COACH就会有些"掉价"。这种廉价感，绝不仅仅是因为COACH奥莱泛滥的原因， 更重要的是，她"够到了"包包阶层中更高端 的LV，就绝不会再折回去背COACH，有人称COACH的这种感觉为"爬坡感"。 所以，在工作场合不再使用一眼就能被识别的大 ...

Core Insights - Tapestry, Inc. (TPR) has seen a significant share price increase of 56.2% over the past year, outperforming the Zacks Retail-Apparel and Shoes industry's decline of 6.8% and the broader Retail-Wholesale sector's growth of 11.3% [1][2]. Performance Overview - TPR stock closed at $63.78, which is 29.8% below its 52-week high of $90.85 reached on February 18, 2025 [2]. - The company is currently trading at a low forward 12-month P/E ratio of 12.16, compared to the industry average of 13.98 and the sector's 21.99, indicating potential for attractive entry points for investors [5]. Growth Drivers - Tapestry's digital and direct-to-consumer (DTC) channels have shown robust performance, with DTC sales increasing by 4%, driven by digital revenue growth and steady physical retail performance [8]. - Coach, a key brand for Tapestry, reported an 11% increase in revenues and a 270-basis-point improvement in gross margin in the fiscal second quarter [10]. - Tapestry's international growth strategy is yielding results, with Europe experiencing a 42% year-over-year revenue increase, and Greater China returning to growth with a 2% sales increase [12][13]. Financial Outlook - Tapestry has raised its fiscal 2025 revenue guidance to exceed $6.85 billion, reflecting a 3% year-over-year increase, and has adjusted its EPS estimate to a range of $4.85 to $4.90, indicating a 13-14% year-over-year improvement [14][15]. - The Zacks Consensus Estimate for Tapestry's current fiscal year earnings has increased to $4.92 per share, with projected sales of $6.88 billion, implying year-over-year growth of 3.1% [16].

Company Overview - Tapestry (TPR) shares increased by 11% to close at $67.28, following a notable trading volume, despite a 15.8% loss over the past four weeks [1] - The company is expected to report quarterly earnings of $0.88 per share, reflecting an 8.6% year-over-year increase, with revenues projected at $1.53 billion, up 2.9% from the previous year [3] Market Context - U.S. stocks experienced a significant rally after President Trump announced a 90-day pause on reciprocal tariffs for all nations except China, which may have positively influenced Tapestry's stock performance [2] - Tapestry's growth is attributed to Coach's strong performance, successful international expansion, and effective direct-to-consumer and digital strategies [2] Earnings Estimates and Trends - The consensus EPS estimate for Tapestry has remained unchanged over the last 30 days, indicating stability in earnings expectations [4] - Trends in earnings estimate revisions are closely correlated with near-term stock price movements, suggesting that monitoring Tapestry's earnings revisions is crucial for assessing future stock performance [3][4] Industry Comparison - Tapestry belongs to the Zacks Retail - Apparel and Shoes industry, where another company, Designer Brands (DBI), saw a 16.2% increase in its stock price, closing at $3.08, despite a -24.7% return over the past month [4] - Designer Brands' consensus EPS estimate has drastically changed by -97.2% over the past month, indicating potential challenges within the industry [5]

Core Viewpoint - Tapestry (TPR) has been upgraded to a Zacks Rank 1 (Strong Buy), indicating a positive earnings outlook that may lead to increased buying pressure and stock price appreciation [1][3]. Earnings Estimates and Revisions - Tapestry is expected to earn $4.91 per share for the fiscal year ending June 2025, reflecting a year-over-year increase of 14.5% [8]. - Over the past three months, the Zacks Consensus Estimate for Tapestry has risen by 6.4%, indicating a trend of increasing earnings estimates [8]. Zacks Rating System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [7]. - The upgrade of Tapestry to Zacks Rank 1 places it in the top 5% of Zacks-covered stocks, suggesting a strong potential for market-beating returns in the near term [10]. Market Dynamics - Changes in earnings estimates are strongly correlated with near-term stock price movements, influenced by institutional investors who adjust their valuations based on these estimates [4][6]. - Rising earnings estimates and the corresponding rating upgrade for Tapestry indicate an improvement in the company's underlying business, which should be reflected in higher stock prices [5].

Core Viewpoint - Wall Street is facing significant losses due to uncertainty surrounding the new U.S. administration's economic tariffs, which are anticipated to increase consumer prices and negatively impact spending and the overall U.S. economy [1] Group 1: Market Trends - Investors are adopting a defensive stance, focusing on products that provide stability and safety in a volatile market, leading to increased interest in dividend stocks [2] - Dividend stocks are recognized for their ability to provide consistent income, which is crucial for wealth creation when equity market returns are uncertain [2] Group 2: Investment Strategy - Selecting stocks with a history of dividend growth can lead to a healthier portfolio with better capital appreciation potential compared to merely high-yield dividend stocks [3] - Stocks with strong dividend growth histories are typically from mature companies, making them less vulnerable to market fluctuations and providing a hedge against economic and political uncertainties [4] Group 3: Stock Selection Criteria - Key criteria for selecting dividend growth stocks include: - 5-Year Historical Dividend Growth greater than zero, indicating a solid dividend growth history [6] - 5-Year Historical Sales Growth greater than zero, reflecting strong revenue growth [7] - 5-Year Historical EPS Growth greater than zero, showing solid earnings growth [7] - Next 3-5 Year EPS Growth Rate greater than zero, suggesting expected earnings growth to sustain dividend payments [7] - Price/Cash Flow less than the industry average, indicating undervaluation [8] - 52-Week Price Change greater than the S&P 500, ensuring better performance over the past year [8] - Top Zacks Rank of 1 (Strong Buy) or 2 (Buy), indicating strong potential for outperformance [8] - Growth Score of B or better, which, when combined with a strong Zacks Rank, offers the best upside potential [9] Group 4: Featured Stocks - Tapestry, Inc. (TPR) has an estimated earnings growth rate of 14.4% for the fiscal year ending June 2025 and a Zacks Rank 1 with a Growth Score of A [10] - Gildan Activewear Inc. (GIL) has an estimated earnings growth rate of 16% for this year and a Zacks Rank 2 with a Growth Score of B [11] - Broadcom Inc. (AVGO) has an expected earnings growth rate of 35.5% and a Zacks Rank 2 with a Growth Score of A [12]

Core Insights - Tapestry, Inc. (TPR) is identified as a compelling value play in the Retail-Apparel and Shoes industry, trading at a forward price-to-earnings ratio of 12.08, which is lower than the industry average of 13.61 and the Retail-Wholesale sector average of 20.75, indicating potential for attractive investment opportunities [1][3] - The company has a Value Score of A, enhancing its appeal as an investment option [1] Financial Performance - Coach, a key brand under Tapestry, reported an 11% increase in revenues for Q2 of fiscal 2025, with a 270-basis-point improvement in gross margin [5] - Tapestry's stock has surged 47.6% over the past year, significantly outperforming the broader industry, which declined 14%, and the S&P 500, which fell 2.1% during the same period [9] - The company has upgraded its fiscal 2025 revenue forecast to exceed $6.85 billion, reflecting a 3% year-over-year increase, surpassing the previous estimate of $6.75 billion [13] - Projected earnings per share (EPS) have been raised to a range of $4.85 to $4.90, indicating a 13-14% increase over the prior year [14] International Growth - Tapestry's international markets are crucial for revenue growth, with Europe experiencing a 42% year-over-year revenue increase [8] - Greater China saw a 2% rise in sales, while the Asia-Pacific region (excluding China) reported an 11% revenue increase, driven by strong performances in South Korea, Malaysia, Australia, and New Zealand [10] Digital and DTC Strategy - The company is investing in digital and direct-to-consumer (DTC) platforms, with DTC sales up 4% and profit margins improving across all distribution channels [11] - Tapestry is leveraging AI-driven customer engagement tools to enhance pricing precision and reduce reliance on discounting, appealing to younger consumers [12] Analyst Sentiment - Analysts have positively revised Tapestry's earnings estimates, with the consensus estimate for the current fiscal year increased by 27 cents to $4.91 per share, indicating a year-over-year growth of 14.5% [15] - The Zacks Consensus Estimate for fiscal 2025 sales is pegged at $6.87 billion, implying a 3% year-over-year growth [16] Overall Outlook - Tapestry is positioned as a strong investment opportunity in the retail and fashion space, with brand strength, global reach, and operational momentum, all at a modest valuation compared to industry peers [20]

Core Insights - Tapestry, Inc. (TPR) has seen a significant stock price increase of 53.7% over the past six months, outperforming the Zacks Retail-Apparel and Shoes industry's decline of 14.6% [1] - The stock closed at $70.41, approaching its 52-week high of $90.85 reached on February 18, 2025 [2] - Tapestry's operational efficiency and growth initiatives have contributed to its strong performance compared to the broader Retail-Wholesale sector and the S&P 500 index [1] Performance Metrics - Tapestry's stock is trading above its 100-day and 200-day simple moving averages of $69.29 and $55.89, indicating a positive market sentiment [5] - Coach, a key brand for Tapestry, reported an 11% increase in revenues in Q2 of fiscal 2025, with a 270-basis-point improvement in gross margin [8] - Tapestry's international strategy has led to a 42% year-over-year revenue increase in Europe and a 2% growth in Greater China [11][12] Strategic Developments - Tapestry announced the sale of its Stuart Weitzman brand to Caleres for $105 million, focusing on its core brands, Coach and Kate Spade [9] - The company is enhancing its digital and direct-to-consumer strategies, with DTC sales rising 4% in Q2, driven by strong digital sales [13] - AI-powered customer engagement is improving pricing strategies and attracting younger consumers, solidifying Tapestry's market position [14] Financial Outlook - Tapestry has raised its full-year revenue forecast to exceed $6.85 billion, reflecting a 3% year-over-year increase [15] - The company expects a 100-basis-point improvement in operating margin and EPS forecasted between $4.85 and $4.90, indicating a 13-14% increase from the prior year [16] - Analysts have positively revised EPS estimates, with the current fiscal year consensus at $4.91 per share, reflecting a year-over-year growth of 14.5% [19] Valuation Insights - Tapestry's forward 12-month P/E ratio is 13.53, lower than the industry average of 15.40 and the sector's 22.38, indicating potential undervaluation [17] - The company's Value Score of A highlights its attractiveness as an investment option [17] - The Zacks Consensus Estimate for Tapestry's sales for the current and next fiscal years is projected at $6.87 billion and $7.11 billion, respectively, implying year-over-year growth of 3% and 3.4% [20]

Core Viewpoint - Investors in the Retail - Apparel and Shoes sector should consider Tapestry (TPR) and On Holding (ONON) as potential value opportunities, with TPR currently presenting a better value option based on valuation metrics [1][7]. Valuation Metrics - TPR has a forward P/E ratio of 15, while ONON has a significantly higher forward P/E of 39.83 [5]. - TPR's PEG ratio is 1.71, indicating a more favorable valuation relative to its expected earnings growth compared to ONON's PEG ratio of 1.91 [5]. - TPR's P/B ratio stands at 11.41, whereas ONON's P/B ratio is 18.34, further highlighting TPR's superior valuation metrics [6]. Earnings Outlook - Both TPR and ONON have a Zacks Rank of 2 (Buy), indicating positive revisions to their earnings estimates and improving earnings outlooks [3][6]. - The Zacks Rank system emphasizes earnings estimates and revisions, which are crucial for value investors [2]. Value Grades - TPR has been assigned a Value grade of B, while ONON has received a Value grade of F, indicating a significant difference in perceived value between the two stocks [6].

Core Insights - Tapestry, Inc. (TPR) shares are currently trading 16.7% below their 52-week high, but the stock has gained 66.7% over the past year, outperforming the Zacks Retail-Apparel and Shoes industry's decline of 6.8% [1] - The company has shown enhanced operational efficiency and growth initiatives, leading to better performance compared to the broader Retail-Wholesale sector and the S&P 500 index [1] Stock Performance - TPR closed at $75.72, trading above its 100-day and 200-day moving averages of $68.09 and $55.17, indicating a positive market sentiment [4] - The stock's technical strength suggests sustained momentum and investor confidence in Tapestry's financial health [4] Brand Performance - Coach brand is a key growth driver, achieving an 11% year-over-year revenue increase in Q2 fiscal 2025, along with a 270-basis-point improvement in gross margin [7] - Tapestry announced the sale of its Stuart Weitzman brand for $105 million, allowing a focus on core brands like Coach and Kate Spade [8] Global Expansion - Tapestry's international strategy has led to significant revenue gains, particularly in Europe, which saw a 42% year-over-year revenue increase in Q2 [10] - Greater China returned to revenue growth with a 2% year-over-year rise, while the broader Asia-Pacific region (excluding China) experienced 11% growth [11] Digital and Direct-to-Consumer Strategies - DTC sales increased by 4% in Q2, driven by high-single-digit growth in digital sales [12] - AI-powered customer engagement has improved pricing strategies and attracted younger consumers, enhancing competitive positioning [13] Financial Outlook - Tapestry raised its FY25 revenue outlook to exceed $6.85 billion, reflecting a 3% year-over-year increase [14] - Projected EPS is now between $4.85 and $4.90, indicating a 13-14% increase from the prior year [15] Valuation - Tapestry is trading at a low forward P/E ratio of 14.57, below industry and sector averages, highlighting its potential as an attractive investment [16] - The company has a Value Score of A, indicating strong appeal for investors [16] Analyst Estimates - Analysts have positively revised Tapestry's EPS estimates, with the current fiscal year consensus at $4.91 per share, reflecting a year-over-year growth of 14.5% [19] - The sales estimates for the current and next fiscal years are pegged at $6.87 billion and $7.11 billion, implying growth of 3% and 3.4%, respectively [20] Investment Appeal - Tapestry is viewed as a compelling investment opportunity due to its digital strategies, strong brand performance, and strategic international expansion [22] - The company currently holds a Zacks Rank 2 (Buy), indicating favorable market conditions for investment [22]