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Tapestry Raises Annual Profit Forecast

Coach store.
Coach owner Tapestry raises annual profit forecast. (Coach)

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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