By Kimberly Chin

Tapestry Inc. (TPR) said it expects fiscal 2020 revenue growth to increase in the low-single digits compared with fiscal 2019, largely due to more modest topline growth at Kate Spade in North America.

This will affect the company's "ability to leverage its strategic investments and fixed costs," the company said.

Shares of Tapestry fell 5% premarket.

For the year, the company projects about $30 million to $40 million of pretax charges associated with the company's enterprise resource planning implementation efforts and another $20 million to $30 million in pretax integration and acquisition-related charges.

Tapestry anticipates an improvement to its top and bottom lines at Coach and Stuart Weitzman in fiscal 2020.

For the first fiscal quarter, the company expects sales to be slightly below the comparable quarter a year ago and per-share earnings to decline from a year earlier.

Write to Kimberly Chin at kimberly.chin@wsj.com

(END) Dow Jones Newswires

August 15, 2019 07:52 ET (11:52 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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