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Tapestry (TPR) Reports Q3 Earnings: What Key Metrics Have to Say

Zacks Equity Research
·2 min read

For the quarter ended March 2023, Tapestry (TPR) reported revenue of $1.51 billion, up 5% over the same period last year. EPS came in at $0.78, compared to $0.51 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $1.44 billion, representing a surprise of +4.61%. The company delivered an EPS surprise of +32.20%, with the consensus EPS estimate being $0.59.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Tapestry performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Net Sales- Coach: $1.14 billion compared to the $1.08 billion average estimate based on four analysts. The reported number represents a change of +6.7% year over year.

  • Net Sales- Stuart Weitzman: $68.30 million versus $62.69 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +7.4% change.

  • Net Sales- Kate Spade: $297.20 million versus $301.05 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -1.4% change.

  • Operating income (loss)- Coach: $342.20 million compared to the $295.54 million average estimate based on three analysts.

  • Operating income (loss)- Stuart Weitzman: $0.80 million versus -$6.37 million estimated by three analysts on average.

  • Operating income (loss)- Kate Spade: $8 million versus $9.24 million estimated by three analysts on average.

View all Key Company Metrics for Tapestry here>>>

Shares of Tapestry have returned -10.1% over the past month versus the Zacks S&P 500 composite's +0.8% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

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Zacks Investment Research