Coach-Owner Tapestry (TPR) Tops Earnings and Guidance Views, Shares Rally on New $1 Billion Buyback Plan

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Go back to Coach-Owner Tapestry (TPR) Tops Earnings and Guidance Views, Shares Rally on New $1 Billion Buyback Plan

Tapestry eases concerns of Coach handbag shortages, raises annual estimates

November 11, 2021 6:52 AM EST

By Uday Sampath Kumar and Aditi Sebastian

(Reuters) -Tapestry Inc expects to have plenty of its luxury Coach handbags on store shelves during the holiday season despite supply chain snags, allowing it to boost its annual sales and profit forecasts.

Shares of the New York-based fashion house rose 10% on Thursday as the company also announced a $1 billion share buyback program.

The luxury goods industry has bounced back sharply this year from... More