| 2018-08-14 06:56:05|
TPR 06:56 08/14 08/14/18
Tapestry sees FY19 operating income growth rate exceeding revenue growth rate
The company is projecting the operating income growth rate to exceed the revenue growth rate, reflecting the organic growth of the business, the realization of incremental synergies from the Kate Spade acquisition as well as the impact of distributor consolidations and buybacks and systems investments. As previously announced, the company expects that cost savings resulting from synergies related to the Kate Spade acquisition will total $100M-$115M in FY19. Net interest expense is expected to be approximately $50M for the year.