Luxury fashion conglomerate Tapestry (NYSE:TPR) will be reporting results tomorrow before market hours. Here’s what to expect.
Tapestry beat analysts’ revenue expectations by 2.4% last quarter, reporting revenues of $1.51 billion, flat year on year. It was a strong quarter for the company, with a solid beat of analysts’ constant currency revenue estimates and full-year EPS guidance slightly topping analysts’ expectations.
Is Tapestry a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Tapestry’s revenue to grow 1.1% year on year to $2.11 billion, slowing from the 2.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.75 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Tapestry has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Tapestry’s peers in the apparel and accessories segment, some have already reported their Q4 results, giving us a hint as to what we can expect. VF Corp delivered year-on-year revenue growth of 1.9%, beating analysts’ expectations by 1.2%, and Columbia Sportswear reported revenues up 3.5%, topping estimates by 1.4%. VF Corp traded up 1.4% following the results.
Read our full analysis of VF Corp’s results here and Columbia Sportswear’s results here.
There has been positive sentiment among investors in the apparel and accessories segment, with share prices up 2.5% on average over the last month. Tapestry is up 9.1% during the same time and is heading into earnings with an average analyst price target of $73.04 (compared to the current share price of $73.48).
Unless you’ve been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story.