Tapestry Inc

NYSE:TPR  
36.39
-0.54 (-1.46%)
Other Pre-Announcement

Tapestry, Inc. Reports Fiscal 2023 First Quarter Results

Published: 11/10/2022 12:53 GMT
Tapestry Inc (TPR) - Tapestry, Inc. Reports Fiscal 2023 First Quarter Results.
Q1 Earnings per Share $0.79.
Maintained Fiscal 2023 Earnings Expectation Excluding Incremental Currency Headwinds.
Remains on Track to Return a Total of $1 Billion to Shareholders in Fiscal 2023.
Continues to Expect to Return Approximately $1.0 Billion to Shareholders in Fiscal 2023.
Remains on Track to Buy Back Approximately $700 Million in Common Stock in Fiscal Year.
Continues to Anticipate Paying an Annual Dividend of $1.20 per Share.
Qtrly Net Sales Totaled $1.51 Billion for Q1 Compared to $1.48 Billion in Prior Year.
Tapestry - Updating 2023 Earnings Outlook Due to Estimated Headwind of $0.20 Based on Incremental Currency Pressure From Strengthening of U.S. Dollar.
Sees 2023 Revenue of $6.5 Billion to $6.6 Billion.
2023 Outlook Assumes Following No Further Appreciation of U.S. Dollar.
Outlook Assumes No Material Worsening of Inflationary Pressures Or Consumer Confidence.
Q1 Earnings per Share View $0.75, Revenue View $1.50 Billion -- Refinitiv Ibes Data (analyst estimates).
FY2023 Earnings per Share View $3.82, Revenue View $6.88 Billion -- Refinitiv Ibes Data (analyst estimates).
Reiterates Its 2025 Strategic Growth Plan and Financial Targets.