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14 stories mentioning TPRUpdated 39d ago

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Research

Research Alert: CFRA Raises Opinion On Shares Of Tapestry, Inc. To Buy From Hold

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our 12-month target by $24 to $170, based on 21.9x our FY 27 (Jun.) EPS estimate and higher than the company's three-year average forward P/E multiple of 13.7x. In recent quarters, shares have traded above 20x consensus EPS estimates for the next 12 months, as the company has outperformed peers and expanded margins. We think the recent sell-off has provided an opportunity to buy shares at a discount. TPR delivered exceptional Q3 FY 26 results, with broad-based outperformance across revenue, margins, and profitability metrics. The company reported revenue of $1.92B (+21% Y/Y), $136M above estimates, with pro forma growth of 25% excluding the divested Stuart Weitzman business. Non-GAAP EPS reached $1.66 (+62% Y/Y), $0.36 above estimates, due to strong operational execution and margin expansion. The Coach brand grew revenues 31% Y/Y to $1.70B, while Kate Spade revenue declined 10% to $220M, though it makes up a much smaller portion of total revenue. We raise our Hold view to Buy based on valuation.

$TPR
Wire

JPMorgan Adjusts Price Target on Tapestry to $200 From $190

Tapestry (TPR) has an average rating of overweight and mean price target of $169.71, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $135.42, Change: $+4.89, Percent Change: +3.75%

$TPR
Research

UBS Upgrades Tapestry to Buy From Neutral, Adjusts Price Target to $187 From $142

Tapestry (TPR) has an average rating of overweight and mean price target of $169.71, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$TPR
US Markets

S&P 500, Nasdaq Snap 2-Day Record Run as Oil Prices Rise in Volatile Session

The S&P 500 and the Nasdaq Composite fell from record closing highs on Thursday as oil prices rose in what turned out to be a choppy trading session for crude.The S&P 500 closed 0.4% lower at 7,337.1, while the Nasdaq slipped 0.1% to 25,806.2. The Dow Jones Industrial Average dropped 0.6% to 49,597. All three indexes snapped a two-day advance that propelled the S&P 500 and the Nasdaq to all-time highs.Barring communication services and technology, all sectors were in the red, led by materials and energy.West Texas Intermediate crude was last up 0.7% at $95.73 a barrel, swinging between gains and losses during Thursday late-afternoon trade. Brent was up 0.1% at $101.36. Both benchmarks fell sharply Wednesday amid prospects of a diplomatic breakthrough between the US and Iran.Iran is still reviewing "messages" from the US via Pakistani mediation, CNN reported, citing Iranian media. Tehran has set out new rules for ships looking to transit ross the crucial Strait of Hormuz, the news outlet reported."Markets continue to be cautiously optimistic toward the prospect of a US-Iran deal to end the war despite the appearances of the US administration pumping the deal vastly more than the other side," Scotiabank said in a note.US Treasury yields were higher, with the 10-year rate up 4.5 basis points at 4.40% and the two-year rate rising 5.4 basis points to 3.92%.In company news, Tapestry (TPR) raised its fiscal 2026 outlook after delivering a third-quarter beat, but provided a subdued fourth-quarter sales guidance for its Kate Spade brand. The luxury fashion company's shares slumped 12%, the second-worst performer on the S&P 500.Planet Fitness (PLNT) shares slid 31% after the fitness center operator tempered its full-year expectations amid fewer-than-projected member additions in the first quarter.Shake Shack (SHAK) shares plummeted 28% after the fast food chain operator's first-quarter results fell short of Wall Street's estimates amid weather-related headwinds.Datadog (DDOG) shares surged 31%, the top gainer on the S&P 500. The software maker raised its full-year outlook after posting first-quarter results that topped the Street expectations.In economic news, US job cuts increased in April to the third-highest total for the month since 2009 as technology companies continued to announce layoffs amid a shift toward artificial intelligence, Challenger Gray & Christmas said Thursday.The report comes ahead of the official April nonfarm payrolls data to be released on Friday.Official data are expected to show that the US economy added 65,000 nonfarm jobs in April, compared with a 178,000 increase reported for the previous month, according to a Bloomberg-compiled consensus. On Wednesday, ADP (ADP) said that employment in the US private sector grew at its fastest pace in more than a year.Gold was up 0.3% at $4,709.90 per troy ounce in Thursday late-afternoon trade, while silver jumped 2.7% to $79.40 per ounce.

Dow JonesNasdaq CompositeS&P 500$ADP$DDOG$PLNT$SHAK$TPR
Sectors

Sector Update: Consumer Stocks Edge Lower Late Afternoon

Consumer stocks were edging down late Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) each decreasing 0.1%.In corporate news, Tapestry (TPR) raised its fiscal 2026 outlook after delivering a Q3 beat, but provided a subdued Q4 sales guidance for its Kate Spade brand. Its shares dropped more than 13%.Shake Shack (SHAK) shares slumped 28% after the company's Q1 results missed Wall Street estimates.Planet Fitness (PLNT) shares tumbled 32% after the company tempered its full-year outlook amid fewer-than-expected member additions in Q1.McDonald's (MCD) reported better-than-expected Q1 results as comparable sales rebounded more than market estimates despite what the company described as a "challenging" environment. Its shares rose 0.3%.

$MCD$PLNT$SHAK$TPR
Sectors

Sector Update: Consumer

Consumer stocks fell late Thursday afternoon with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.2%.In corporate news, Tapestry (TPR) raised its fiscal 2026 outlook after delivering a Q3 beat, but provided a subdued Q4 sales guidance for its Kate Spade brand. Its shares dropped 12%.

$TPR
US Markets

Equities Fall Intraday, Oil Rises as Traders Monitor Middle East Developments

US benchmark equity indexes were lower intraday, while oil prices were moving higher, as investors monitored developments regarding a potential peace deal between Washington and Iran.The Dow Jones Industrial Average was down 0.7% at 49,571 after midday Thursday, while the S&P 500 lost 0.4% to 7,338.3. The Nasdaq Composite shed 0.1% to 25,811.1. The S&P 500 and the Nasdaq hit new peaks in the previous session.Barring technology, all sectors were in the red intraday Thursday, led by energy.West Texas Intermediate crude was up 1.4% at $96.45 a barrel, while Brent rose 0.7% to $102.02. Both benchmarks fell sharply Wednesday amid prospects of a diplomatic breakthrough between the US and Iran."The sell-off partly unwinds the conflict-driven rally in energy prices, but losses were pared as the market remains cautious," ING Bank said in a report Thursday. "Crude inventories in the US continue to tighten, while buyers have become more reliant on US barrels to offset disrupted Middle Eastern supply."The US and Iran are edging toward a temporary pact to halt the war, Reuters reported, citing sources and officials. Iran is reviewing a proposal to stop the fighting, but leave the most contentious issues unresolved, according to the report.Iran is still reviewing "messages" from the US via Pakistani mediation and has yet to finalize its response to a Washington proposal to end the conflict, CNN reported, citing local Iranian media. Tehran has issued a set of new rules for ships looking to cross the crucial Strait of Hormuz, the news outlet reported, citing a document it saw.US Treasury yields were higher intraday, with the 10-year rate up 4.3 basis points at 4.39% and the two-year rate rising 5.2 basis points to 3.92%.In company news, Tapestry (TPR) raised its fiscal 2026 outlook after delivering a third-quarter beat, but provided a subdued fourth-quarter sales guidance for its Kate Spade brand. The luxury fashion company's shares were down 10%, the second-worst performer on the S&P 500.Planet Fitness (PLNT) shares slid 32% after the fitness center operator tempered its full-year expectations amid fewer-than-projected member additions in the first quarter.Shake Shack (SHAK) shares plummeted 29% after the fast food chain operator's first-quarter results fell short of Wall Street's estimates amid weather-related headwinds.Datadog (DDOG) shares surged 26%, the top gainer on the S&P 500. The software maker raised its full-year outlook after posting first-quarter results that topped the Street expectations.Gilead Sciences (GILD), McKesson (MCK), Cloudflare (NET), Airbnb (ABNB), Monster Beverage (MNST), and CoreWeave (CRWV) are expected to report after the closing bell Thursday.Gold was up 0.1% at $4,699.80 per troy ounce, while silver jumped 2.7% to $79.37 per ounce.

Dow JonesNasdaq CompositeS&P 500$ABNB$CRWV$DDOG$GILD$MCK$MNST$NET$PLNT$SHAK$TPR
US Markets

Tapestry Raises Full-Year Outlook After Third-Quarter Beat; Stock Falls Amid Subdued Kate Spade Views

Tapestry (TPR) raised its fiscal 2026 outlook after delivering a third-quarter beat, but provided a subdued fourth-quarter sales guidance for its Kate Spade brand, sending the luxury fashion company's shares lower Thursday.The Coach parent now anticipates full-year adjusted revenue in the area of $7.95 billion, up from its previous outlook of more than $7.75 billion. Adjusted earnings are pegged at around $6.95 a share versus its prior guidance range of $6.40 to $6.45. The current consensus on FactSet is for non-GAAP EPS of $6.53 and sales of $7.83 billion.For the quarter ended March 28, non-GAAP EPS jumped to $1.66 from $1.03 a year earlier, while net sales climbed 21% to $1.92 billion. Wall Street's views were for $1.30 and $1.79 billion, respectively.For the ongoing quarter, the company projects EPS of about $1.20, Chief Financial Officer and Chief Operating Officer Scott Roe said on an earnings conference call Thursday, according to a FactSet transcript."For (the fourth quarter) specifically, our guidance embeds pro-forma revenue growth of low-double digits on both a reported and a constant currency basis," Roe told analysts. This incorporates a low-teens growth rate at Coach and a high-single-digit decline at Kate Spade, according to Roe.Tapestry shares were down 10% in afternoon trade.Sales at the Coach brand jumped 31% to $1.70 billion in the third quarter, while Kate Spade saw a 10% drop to $219.6 million.Although top-line trends at Kate Spade improved sequentially, they fell "slightly below expectations, which included pressure from our strategic pullback in promotions at retail," Chief Executive Joanne Crevoiserat said on the call."We also know that turnarounds take time and the path to long-term growth is not always linear," Crevoiserat said. "We are continuing to track the leading indicators of growth, informed by our success and learnings at Coach."In fiscal 2026, the company now expects to return $1.6 billion to shareholders through dividends and share buybacks, up from its previous outlook of $1.5 billion.Price: $131.48, Change: $-17.35, Percent Change: -11.66%

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Sectors

Sector Update: Consumer Stocks Higher Pre-Bell Thursday

Consumer stocks were higher premarket Thursday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) advancing 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gaining 0.5%.Tesla (TSLA) stock gained over 1% before the bell after Reuters reported that the EV maker's China-made electric vehicle sales rose for a sixth consecutive month on a year-over-year basis.McDonald's (MCD) shares were 0.1% higher in premarket activity after the company reported higher Q1 adjusted earnings and revenue.Tapestry (TPR) stock were down 2.6% pre-bell despite the company reporting higher fiscal Q3 non-GAAP earnings and net sales.

$MCD$TPR$TSLA$XLP$XLY
Research

Research Alert: Tapestry Easily Beats Estimates In Q3 Fy 26; Raises Full-year Guidance

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:TPR delivered exceptional Q3 FY 26 (Jun.) results with revenue of $1.92B (+21% Y/Y), $136M above estimates, and EPS of $1.66 (+62% Y/Y), $0.36 above consensus. Pro forma growth reached 25% excluding the divested Stuart Weitzman, with Coach brand revenue surging 31% to $1.70B while Kate Spade declined 10% to $220M. The strong performance reflects successful execution of the Amplify strategy and demonstrates Coach's pricing power with handbag units up 20%+ and AUR growing at low-double-digit rates. Management raised full-year guidance to $7.95B revenue (+14% Y/Y) with operating margin of 23% (+300 bps) and EPS of $6.95. Operating margin expanded 490 bps to 22.4% despite tariff headwinds, with broad-based geographic strength led by Greater China at 61% growth. We believe the company's customer acquisition momentum with 2.4M new customers globally and strong omnichannel performance positions it well for continued market share gains in luxury accessories.

$TPR
US Markets

Stocks Rise Pre-Bell as Traders Monitor Developments on Potential US-Iran Peace Deal

US equity markets were moving higher before the opening bell Thursday as investors monitor the latest developments over a potential peace deal between the US and Iran.The S&P 500 and the Dow Jones Industrial Average were up 0.1% each, while the Nasdaq was slightly in the green in premarket activity. The indexes finished Wednesday trading higher, with the S&P 500 and the Nasdaq recording their highest close ever and biggest one-day percentage gains since April 8.President Donald Trump told reporters on Wednesday that the US has had "very good talks" with Iran over the past 24 hours, but said there's no deadline on when he expects Tehran to respond to a US proposal to end the war, according to CNN.American and Iranian officials are closing in on a one-page memorandum of understanding to end the war and establish a framework for nuclear negotiations, Axios reported Wednesday, citing sources.In a separate social media post on Wednesday, Trump said US operations against Iran will be "at an end" if Tehran agrees to US demands. "If they don't agree, the bombing starts, and it will be, sadly, at a much higher level and intensity than it was before," Trump said.Iran is expected to give mediators its response to the proposal on Thursday, a regional source told CNN.West Texas Intermediate crude oil dropped 2.2% to $93.03 a barrel before the open, while Brent decreased 2.1% to $99.14."A deal announcement would move futures further immediately, in fact even the potential of a deal is already triggering a decline in oil prices," Rystad Energy Chief Oil Analyst Paola Rodriguez-Masiu said in remarks emailed to. The physical market's recovery won't be as quick as the futures market predicts, Rodriguez-Masiu said, pointing to a six-to-eight-week lag between the strait reopening and oil flows normalizing.Treasury yields were down in premarket action, with the two-year rate retreating 2.3 basis points to 3.85% and the 10-year rate off 2 basis points to 4.33%.Shares of DoorDash (DASH) jumped 10% pre-bell after the food delivery company reported first-quarter earnings ahead of Wall Street's estimates. Warner Bros. Discovery (WBD) nudged 0.5% lower, while Snap (SNAP) fell 10% following their latest quarterly results.McDonald's (MCD), Sempra (SRE), Vistra (VST), Datadog (DDOG), Becton Dickinson (BDX), Tapestry (TPR) and US Foods (USFD) report their latest financial results before the bell, among others. Gilead Sciences (GILD), McKesson (MCK), Cloudflare (NET), Airbnb (ABNB), Monster Beverage (MNST) and CoreWeave (CRWV) are scheduled to announce their earnings after the markets close.Employers in the US announced 83,387 layoffs last month, up 38% from March, Challenger, Gray & Christmas said Thursday.Thursday's economic calendar also has the weekly jobless claims bulletin at 8:30 am.On Wednesday, ADP data showed that employment in the US private sector grew at its fastest pace in more than a year in April. The government's nonfarm payrolls report is out on Friday.Federal Reserve Bank of Minneapolis President Neel Kashkari is slated to speak at 1 pm, while Cleveland Fed President Beth Hammack speaks at 2:05 pm. New York Fed President John Williams' remarks are due at 3:30 pm.Gold increased 1% to $4,740 per troy ounce, while bitcoin declined 0.7% to $80,844.

Dow JonesNasdaq CompositeS&P 500$ABNB$BDX$CRWV$DASH$DDOG$GILD$MCD$MCK$MNST$NET$SNAP$SRE$TPR$USFD$VST$WBD
Wire

Baird Adjusts Tapestry Price Target to $165 From $160, Maintains Outperform Rating

Tapestry (TPR) has an average rating of overweight and mean price target of $166.41, according to analysts polled by FactSet.Price: $142.06, Change: $-1.78, Percent Change: -1.24%

$TPR
Wire

BTIG Adjusts Price Target on Tapestry to $180 From $175, Maintains Buy Rating

Tapestry (TPR) has an average rating of overweight and mean price target of $166.41, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $147.61, Change: $+1.16, Percent Change: +0.79%

$TPR
Wire

UBS Adjusts Price Target on Tapestry to $142 From $141, Maintains Neutral Rating

Tapestry (TPR) has an average rating of overweight and mean price target of $165.53, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $148.33, Change: $+2.15, Percent Change: +1.47%

$TPR

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