Tapestry(US:TPR) ZACKS·2024-08-15 14:31Core Insights - Tapestry reported revenue of $1.59 billion for the quarter ended June 2024, a decrease of 1.8% year-over-year, with EPS at $0.92 compared to $0.95 in the same quarter last year [1] - The revenue exceeded the Zacks Consensus Estimate by 1.20%, while EPS surpassed the consensus estimate by 4.55% [1] Revenue Performance - Coach's net sales were $1.25 billion, slightly above the estimated $1.22 billion, reflecting a year-over-year increase of 0.2% [3] - Stuart Weitzman's net sales were reported at $50.60 million, below the estimated $56.04 million, showing a significant year-over-year decline of 19.2% [4] - Kate Spade's net sales were $290.10 million, slightly below the estimated $292.62 million, representing a year-over-year decrease of 6.3% [5] Operating Income - Coach's operating income was $388.80 million, marginally below the average estimate of $389.27 million [6] - Kate Spade reported an operating income of $23.90 million, significantly above the average estimate of $11.76 million [7] - Stuart Weitzman had an operating loss of $9.30 million, worse than the average estimate of -$6.73 million [8] - Corporate operating loss was reported at -$168.40 million, exceeding the average estimate of -$133.55 million [9] Stock Performance - Tapestry's shares have declined by 10.9% over the past month, compared to a 2.9% decline in the Zacks S&P 500 composite [9] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [9]