Tapestry (TPR) Tops Q4 Earnings and Revenue Estimates

Company Performance - Tapestry reported quarterly earnings of $0.92 per share, exceeding the Zacks Consensus Estimate of $0.88 per share, but down from $0.95 per share a year ago, representing an earnings surprise of 4.55% [1] - The company posted revenues of $1.59 billion for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 1.20%, although this is a decrease from year-ago revenues of $1.62 billion [2] - Over the last four quarters, Tapestry has surpassed consensus EPS estimates four times and topped consensus revenue estimates two times [2] Stock Outlook - Tapestry shares have increased approximately 3.1% since the beginning of the year, while the S&P 500 has gained 14.4% [3] - The company's current consensus EPS estimate for the coming quarter is $0.97 on revenues of $1.52 billion, and for the current fiscal year, it is $4.52 on revenues of $6.75 billion [7] Industry Context - The Retail - Apparel and Shoes industry, to which Tapestry belongs, is currently ranked in the bottom 29% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Tapestry's stock performance [5]