Tapestry (TPR, Financial), the parent company of Coach, saw its stock price increase by 3.9% to $51.7. The company recently announced its first-quarter results for fiscal year 2025, reporting revenue of $1.51 billion, which met expectations but remained unchanged from the previous year. Analysts had predicted revenue of $1.47 billion.
The company's adjusted earnings per share came in at $1.02, surpassing analysts' expectations of $0.95. During the quarter, sales for the Coach brand rose by 1%, which helped offset a 7% decline in sales for the Kate Spade brand.
Tapestry has updated its forecast for the full year, now expecting adjusted revenue to reach $6.75 billion, higher than the previous estimate of $6.7 billion.
