Tapestry Inc. Reports Decreased Revenue and Adjusted Earnings for Q4 2024
Thursday, 15 August 2024, 14:01
Tapestry Inc. Financial Performance Overview
Tapestry Inc. (NYSE: TPR), a leading luxury fashion company, reported its fourth quarter results for 2024 on Thursday.
Key Financial Figures
- Net Sales: Q4 totalled $1.59 billion compared to $1.62 billion last year, a 2% decline.
- Net Income: In Q4, net income was $159 million, translating to $0.68 EPS, down from $224 million, or $0.95 per share in Q4 2023.
- Adjusted Net Income: Adjusted net income decreased to $217 million or $0.92 per share.
- Gross Profit: Totaled $1.19 billion with a 74.9% gross margin.
- Operating Income: Was $235 million with an operating margin of 14.8%.
Conclusion
These results indicate a challenging period for Tapestry Inc., underlining the pressures faced in the luxury market segment.
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.