Coach热销难抵关税寒流 Tapestry(TPR.US)盈利展望受挫股价暴跌

Core Viewpoint - Tapestry's latest quarterly earnings report exceeded expectations, but the company's annual outlook fell short due to tariff costs impacting key profitability metrics, leading to a significant drop in stock price [1] Group 1: Financial Performance - For the fourth quarter of fiscal year 2025, Tapestry reported an adjusted earnings per share of $1.04, surpassing analyst expectations by $0.02 [1] - The quarterly sales reached $1.72 billion, exceeding the forecast of $1.68 billion [1] - The company anticipates diluted earnings per share for fiscal year 2026 to be between $5.30 and $5.45, reflecting a growth of 4% to 7% year-over-year, but below the analyst expectation of $5.49 [1] Group 2: Tariff Impact - Tapestry's management indicated that tariffs are expected to result in a negative impact of $0.60 per share [1] - CFO Scott Roe mentioned that the additional tariff costs for the fiscal year would amount to approximately $160 million, which is expected to have a significant impact [2] - The company expressed confidence in its ability to gradually mitigate the impact of tariffs [2] Group 3: Brand Performance - Coach's revenue grew by 13% in the last quarter when excluding currency effects, while Kate Spade's revenue declined by 13% [2] - Tapestry's revenue for the fiscal year ending in June is projected to reach $7.2 billion, slightly above market expectations of $7.12 billion, with a mid-single-digit growth year-over-year [2] - Coach ranked as the fifth most popular fashion brand globally in June, with its Tabby and Brooklyn bags becoming standout products [3] Group 4: Market Position - Despite the dominance of European luxury brands, Coach has successfully positioned itself as a competitive American brand, maintaining a more approachable pricing strategy [3] - Analysts noted that the strong performance of Tapestry's brands suggests potential for continued market share expansion and maintenance of operating margins amid rising price sensitivity and tariff risks [3]