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Tapestry Raises Annual Profit Forecast

Coach store.
Coach owner Tapestry raises annual profit forecast. (Coach)
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Luxury group Tapestry Inc raised its annual profit forecast on Thursday, helped by resilient demand and its strategy to largely use company-owned stores and its website to sell Coach and Kate Spade bags.

The company said it now expected fiscal 2023 earnings of $3.70 to $3.75 per share, compared with its prior estimate of $3.60 to $3.70.

By Uday Sampath and Deborah Sophia; Editor: Sriraj Kalluvila

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