Kate Spade Parent Tapestry Beats Estimates on Strong European Sales

Key Takeaways Tapestry exceeded fourth-quarter estimates as demand for its fashion products jumped in Europe. The parent of Coach, Kate Spade, and Stuart Weitzman brands posted a 26% year-over-year increase in European sales. Tapestry said it is confident its $8.5 billion purchase of Capri Holdings will be approved, despite efforts by regulators to block it because of concerns about competition. Tapestry (TPR) shares gained in intraday trading Thursday as the fashion designer posted better-thananticipated r ...