TPR Tapestry Inc

   By Aisha Al-Muslim 
 

Tapestry Inc. (TPR) reported its fourth-quarter results before the open of trading Tuesday. Here's what you need to know.

PROFIT: The company of luxury brands, such as Coach, Kate Spade and Stuart Weitzman, reported net income for the quarter of $211.7 million, or 73 cents a share, compared with $151.7 million, or 53 cents a share, for the same quarter a year before. Adjusted earnings were 60 cents a share, beating the 57 cents a share analysts polled by Thomson Reuters were looking for.

NET SALES: Net sales for the quarter rose 31% to $1.48 billion, ahead of the consensus forecast of $1.47 billion. Net sales includes the contribution of Kate Spade, which the company acquired on July 11, 2017.

GUIDANCE: For fiscal 2019, the company expects revenue to increase at a mid-single-digit rate to $6.1 billion to $6.2 billion, compared with analysts' estimates of $6.08 billion. The company also guided adjusted per-share earnings of $2.70 to $2.80 in 2018, compared with analysts' estimates of $2.82 a share.

STOCK MOVE: The stock rose 2.2% to $48.48 in pre-market trading Tuesday. Shares are down less than 1% in the last year.

Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com

(END) Dow Jones Newswires

August 14, 2018 07:26 ET (11:26 GMT)

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