Coach brand sales remain strong, parent company Tapestry surpasses expectations in last quarter's performance
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Glonghui, February 5th|Tapestry, the parent company of Coach, announced its second fiscal quarter results. Revenue increased by 14% year-on-year to $2.5 billion, exceeding the market consensus of $2.29 billion; adjusted earnings per share were $2.69, also surpassing the market expectation of $2.19. During the period, the Coach brand performed particularly well, with sales rising 25% to $2.14 billion, mainly driven by strong demand for handbags. Based on its robust performance, Tapestry raised its full-year outlook, expecting revenue to exceed $7.75 billion and earnings per share to be between $6.40 and $6.45.
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