Tapestry says on track to achieve run-rate synergies of $100M-$115M in 2019
Says strengthened executive and creative leadership across brands. Says "right" senior management in place to lead Kate Spade team. Says entered into purchase agreements to acquire Kate Spade's operations in Singapore, Malaysia and Australia and Stuart Weitzman's business in Southern China. Says uncertainty in FY19 macroeconomic outlook. Says goal is to deliver strong revenue and operating income growth in FY19, while making the right strategic investments to support long-term vision and drive a return to both double-digit operating income and earnings per share growth in fiscal 2020. Says remains on track to achieve run-rate synergies of $100M-$115M in 2019. Say will drive global growth with emphasis on the Chinese consumer and advance digital and data analytics capabilities. Comments taken from Q4 earnings conference call.