(Tiper Stock Exchange) – tapestrythe US company that controls lifestyle brands such as Coach, Kate Spade and Stuart Weitzman, closed the fourth quarter of fiscal year 2023 (ended July 1) with net sales of $1.62 billion, in line with the previous year and below the $1.65 billion expected by analysts. Excluding a 180 basis point headwind from the currency due to US dollar appreciation, revenue was up 1%. L’Net income was $224 million ($0.95 per share), compared with $189 million ($0.75) for the same period a year ago. L’Adjusted EPS it was $0.78.
In the’entire exercise net sales were $6.66 billion (vs. $6.68 billion a year prior) and net income was $936 million (vs. $856 million).
“We have achieved an EPS record this fiscal year, strengthening the power of brand building, consumer-centric strategies and disciplined execution – commented the CEO Joanne Crevoiserat We delivered constant currency revenue growth, significant gross margin expansion and double-digit EPS growth despite a rapidly changing landscape. Importantly, we have significantly advanced our strategic priorities by engaging consumers around the world through product excellence, unique storytelling and distinctive omnichannel experiences.”
for thefiscal year 2024, expects: revenue approaching $6.9 billion, representing an increase of approximately 3-4% year-over-year; earnings per share of $4.10 to $4.15, which represents approximately 6% to 7% growth. Forecasts are lower than analysts’ expectations.
A few days ago Tapestry signed a agreement definitive according to which will acquire Capri Holdingsa global fashion and luxury group made up of Versace, Jimmy Choo and Michael Kors, in an $8.5 billion transaction.
(Photo: Towfiqu barbhuiya on Unsplash)