Coach owner Tapestry shares rise on holiday-quarter earnings, sales beat

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Shoppers pass a Coach display in Macy’s, New York.
Scott Mlyn | CNBC

Coach owner Tapestry on Thursday reported holiday-quarter earnings and sales that topped analysts’ estimates, helped by a surge in demand for its handbags in China and online.

Its shares were recently up more than 1% in premarket trading.

Here’s how the company did compared with what analysts were expecting, using Refinitiv data:

  • Earnings per share: $1.15, adjusted, vs. $1.01, expected
  • Revenue: $1.69 billion vs. $1.63 billion, expected

As of Wednesday’s market close, Tapestry shares are up more than 32% over the past 12 months. The company has a market cap of $9.6 billion.

Find the full press release from Tapestry here.

This story is developing. Please check back for updates.

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