Tapestry Inc. Reports Impressive Growth in Q3 2024 Financial Results
Thursday, 9 May 2024, 14:01
Earnings Summary: A snapshot of Tapestry’s Q3 2024 financial results
Tapestry Inc. (NYSE: TPR), a leading luxury fashion company, on Thursday reported an increase in net sales and adjusted earnings for the second quarter of 2024.
- Q3 net income: Increased to $139 million or $0.60 per share, compared to $187 million or $0.78 per share in Q3 2023.
- Net sales: Generated $1.48 billion in Q3, a slight decline from the prior year, but mostly stable when excluding a currency headwind of 160 basis points.
- Operating performance: Gross profit reached $1.11 billion with a margin of 74.7%, while operating income was $204 million.
The earnings reflect Tapestry's strong operational efficiency, although some areas witnessed slight downturns compared to the previous year, indicating the company's ability to navigate challenges and maintain a competitive stance in the luxury fashion market.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.