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TPR

Tapestry

$47.42

-0.52 (-1.08%)

09:29
08/14/18
08/14
09:29
08/14/18
09:29

Tapestry expects 'modest' net decrease in Coach brand stores in FY19

Says will continue to invest in brands and business for sustainable growth. Says will acquire new brands on strategic, opportunistic basis. Says will continue to return capital to shareholders with a focus on dividends. Expects revenues for fiscal FY19 to increase at a mid-single-digit rate from fiscal 2018 to $6.1B-$6.2B. Consensus $6.08B. Expects Kate Spade sales to increase at double-digit rate in FY19. Says expects Stuart Weitzman to return revenue growth in FY19. Expects CapEx to be in range of $300-$325M in FY19. Expects modest net decrease in Coach Brand stores in FY19, expects 40-50 net new doors for Kate Spade, expects to open approx. 30 net new stores for Stuart Weitzman in FY19, primarily in China. Says remains very optimistic about global opportunities.

  • 14

    Aug

  • 12

    Sep

TPR Tapestry
$47.42

-0.52 (-1.08%)

06/25/18
GSCO
06/25/18
INITIATION
GSCO
Buy
VF Corp. initiated with a Buy at Goldman Sachs
Goldman Sachs analyst Alexandra Walvis initiated VFC Corp (VFC) with a Buy rating, telling investors in a research note that VFC is an "under-appreciated growth asset," with brands with momentum like Vans and "credible" turnaround potential like Wrangler and The North Face, many of which have opportunities for channel shift enabled by digital. The analyst says she is "enthusiastic" about opportunities to deploy cash given VFC's strong balance sheet and expertise in integrating acquisitions. This morning, Walvis also initiated shares of Tapestry (TPR) with a Conviction Buy, Tiffany (TIF) with a Buy and PVH (PVH) with a Sell.
06/25/18
GSCO
06/25/18
INITIATION
GSCO
Sell
PVH Corp. initiated with a Sell at Goldman Sachs
Goldman Sachs analyst Alexandra Walvis initiated PVH Corp (PVH) with a Sell, telling investors in a research note that while the company has benefited from a strong acceleration in growth in Tommy Hilfiger and Calvin Klein, she believes momentum is peaking as a number of tailwinds fade. This morning, Walvis also initiated shares of Tapestry (TPR) with a Conviction Buy and Tiffany (TIF) and VFC (VFC) with a Buy.
07/09/18
WELS
07/09/18
NO CHANGE
Target $56
WELS
Outperform
Tapestry fundamental story intact, guidance likely near-term issue, says Wells Fargo
Wells Fargo analyst Ike Boruchow remains bullish on the Tapestry story and reiterates the name as one of his top idea as he has gained greater confidence in both the Kate Spade turnaround efforts, as well as the trajectory of Coach brand. That said, the analyst does see some headwinds to next full year that the Street does not appear to be modeling, leading him to cut his FY19 EPS as he believes guidance is likely a near-term issue. Boruchow reiterates an Outperform rating and $56 price target on the shares.
07/31/18
UBSW
07/31/18
NO CHANGE
Target $59
UBSW
Buy
Tapestry price target lowered to $59 from $62 at UBS
UBS analyst Jay Sole said one of the main tenets of his buy thesis on Tapestry was that a product shift mix will lead to more full price selling. He recent research has led him to begin to doubt that will occur so he lowered his estimates and price target to reflect it. Sole said he still sees a favorable risk/reward for Tapestry and reiterated his Buy rating while lowering his target to $59 from $62.

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