May 1, 2018 / 12:12 PM / 3 months ago

BRIEF-Tapestry Q3 Non-GAAP Earnings Per Share $0.54

May 1 (Reuters) - Tapestry Inc:

* Q3 COACH SAME STORE SALES ROSE 3 PERCENT

* Q3 EARNINGS PER SHARE VIEW $0.50 — THOMSON REUTERS I/B/E/S

* Q3 SALES $1.32 BILLION VERSUS I/B/E/S VIEW $1.31 BILLION

* Q3 NON-GAAP EARNINGS PER SHARE $0.54

* “RESULTS WERE DRIVEN BY CONTINUED GROWTH AT COACH, WHERE COMPARABLE STORE SALES ROSE”

* TAPESTRY-AT STUART WEITZMAN, RESULTS WERE IMPACTED BY EXECUTION ISSUES INCLUDING PRODUCTION DELAYS, LOWER SELL-THROUGH OF KEY CARRYOVER STYLES

* Q3 RESULTS WERE DRIVEN BY CONTINUED GROWTH AT COACH, WHERE COMPARABLE STORE SALES ROSE, LED BY OUTPERFORMANCE IN NORTH AMERICA

* NOW PROJECTING OPERATING INCOME GROWTH OF AT LEAST 22% VERSUS FISCAL 2017 DRIVEN BY MID-SINGLE-DIGIT ORGANIC GROWTH

* FISCAL YEAR 2018 OUTLOOK INCLUDES PROJECTED KATE SPADE RESULTS SUBSEQUENT TO CLOSING OF TRANSACTION

* KATE SPADE BUSINESS AND RESULTING SYNERGIES EXPECTED TO CONTRIBUTE ABOUT $145 MILLION TO OPERATING INCOME FOR 2018

* FY2018 EARNINGS PER SHARE VIEW $2.59, REVENUE VIEW $5.86 BILLION — THOMSON REUTERS I/B/E/S

* NOW PROJECTS FY EARNINGS PER DILUTED SHARE IN RANGE OF $2.57-$2.60, AN INCREASE OF ABOUT 19% TO 21% FOR YEAR Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below