Coach parent Tapestry raises full-year earnings forecast

Investing.com - Tapestry has lifted its annual adjusted earnings per share forecast, as the fashion group said it has been bolstered by strong operational results, a robust balance sheet and significant free cash flow generation.

The owner of brands like Coach and Kate Spade said it now expects to earn $5.45 to $5.60 per share on an adjusted basis during its 2026 fiscal year, up from a prior range of $5.30 to $5.45. Bloomberg consensus estimates had called for a forecast of $5.49 a share.

Full-year revenue is also seen at $7.3 billion, compared to a prior outlook of $7.2 billion and Wall Street projections of $7.23 billion.

Fiscal first-quarter adjusted per-share profit of $1.38 on net sales of $1.70 billion also topped expectations.

"Through focused execution of our strategies, we brought creativity and craftsmanship to our customers around the world, achieving revenue and earnings increases ahead of expectations. From this position of strength, we are raising our full year outlook, reinforcing that our advantages are structural and sustainable," said CEO Joanne Crevoiserat in a statement.

Shares of Tapestry were lower in premarket U.S. trading on Thursday.

(This is a developing story. Please check back later for updates.)

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