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Shoppers pass a Coach display in Macy’s, New York.
Scott Mlyn | CNBC
Coach owner Tapestry on Thursday reported holiday-quarter earnings and sales that topped analysts’ estimates, helped by a surge in demand for its handbags in China and online.
Its shares were recently up more than 1% in premarket trading.
Here’s how the company did compared with what analysts were expecting, using Refinitiv data:
- Earnings per share: $1.15, adjusted, vs. $1.01, expected
- Revenue: $1.69 billion vs. $1.63 billion, expected
As of Wednesday’s market close, Tapestry shares are up more than 32% over the past 12 months. The company has a market cap of $9.6 billion.
Find the full press release from Tapestry here.
This story is developing. Please check back for updates.
This article was originally published by Cnbc.com. Read the original article here.