(CercleFinance.com) – Tapestry, the parent company of Coach, Kate Spade and Stuart Weitzman, reports a 27% increase in EPS for its fourth accounting quarter, to 0.95 dollars, despite stable revenues at 1.62 billion dollars (+1% excluding currency effects).
The luxury group indeed claims a significant expansion of its operating margin in annual comparison, by 0.9 percentage points to 16.9%, fueled by an improvement in its gross margin of 3.50 points to 72.4 %.
Posting a record adjusted EPS of $3.88 and revenues of $6.66 billion for the entire 2022-23 fiscal year, Tapestry is aiming for a target range of 4.10-4 .15 dollars and a goal of almost 6.9 billion.
As a reminder, the group announced last week a 17% increase in its dividend, at an annual rate of 1.40 dollars per share, as well as an agreement to buy Capri Holdings, the parent company of Versace, Jimmy Choo and Michael Kors.
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