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Tapestry, Inc. (TPR) provides luxury accessories and lifestyle brands in the United States, Japan, China, Hong Kong, Macau, East Asia, Europe, Canada, Taiwan, South Korea, Malaysia, and Singapore.
It operates through three segments: Coach, Kate Spade, and Stuart Weitzman.
The company offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, travel accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, travel organizers, belts, footwear, watches, sunglasses, novelty accessories, and ready-to-wear for men.
It also provides women's footwear; eyewear, such as sunglasses; jewelry comprising bracelets, necklaces, rings, and earrings; fragrances and watches; various women's seasonal lifestyle apparel collections that include outerwear; and ready-to-wear and cold weather accessories, which comprise gloves, scarves, and hats.
In addition, the company offers kids ready-to-wear items; housewares and home accessories, including fashion bedding and tableware; and stationery and gifts, as well as weekend accessories and other lifestyle products. Further, the company licenses rights to market and distribute its eyewear, watches, and fragrances under the Coach brand; and fashion bedding, eyewear, footwear, tableware, stationery and gift, tech accessories, and watches under the Kate Spade brand. It sells its products to consumers through a network of Coach, Kate Spade, and Stuart Weitzman operated stores, including the Internet and concession shop-in-shops; and wholesale customers, as well as through independent third party distributors. As of June 30, 2018, the company operated 1,432 stores.
Shares have broken through a support following the company's latest quarterly report. Tapestry (TPR) reported 2nd Quarter December 2018 earnings of $1.07 per share on revenue of $1.8 billion. The consensus earnings estimate was $1.11 per share on revenue of $1.9 billion.
The company said it expects fiscal 2019 earnings of $2.55 to $2.60 per share on revenue of $5.94 billion to $6.20 billion. The company's previous guidance was earnings of $2.75 to $2.80 per share on revenue of $6.10 billion to $6.20 billion and the current consensus earnings estimate is $2.78 per share on revenue of $6.16 billion for the year ending June 30, 2019. Lower share prices are expected for this stock.
We will be trading April 18th Put options
Last Trade: $30.93
Trading Range: $30.91 - $55.50
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