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TPR

Tapestry

$25.00

-1.72 (-6.44%)

06:58
08/15/19
08/15
06:58
08/15/19
06:58

Tapestry sees FY20 EPS about even with FY19 EPS of $2.57, consensus $2.91

Sees FY20 revenue up "at a low-single-digit rate." Tapestry expects revenues for FY20 to increase at a low-single-digit rate from FY19. In addition, the company projects EPS to be approximately even with prior year. The primary change from the prior outlook is the expectation for more modest topline growth at Kate Spade in North America, impacting the company's ability to leverage its strategic investments and fixed costs. Importantly, the company continues to expect top and bottom line growth at Coach and profitability improvements at Stuart Weitzman in FY20. Net interest expense for the year is expected to be $45M-$50M and the full year FY20 tax rate is projected to be in the area of 17.5%.

  • 15

    Aug

TPR Tapestry
$25.00

-1.72 (-6.44%)

05/09/19
STPT
05/09/19
UPGRADE
STPT
Buy
Tapestry upgraded to Buy from Hold at Standpoint Research
06/10/19
PIPR
06/10/19
NO CHANGE
Target $40
PIPR
Overweight
Piper Jaffray reiterates Overweight on Tapestry after management dinner
Piper Jaffray analyst Erinn Murphy reiterates an Overweight rating on Tapestry with a $40 price target after hosting an investor dinner with management. Management is confident in the multi-brand strategy and reiterated their view to achieve double-digit EBIT growth in fiscal 2020, Murphy tells investors in a research note. Further, Tapestry's trends overseas are "particularly strong" and the company is not seeing pressure in its China business, adds the analyst. She would also not be surprised if Tapestry started accelerating the use of its buyback authorization in the near-term given the current valuation of the stock.
06/27/19
GSCO
06/27/19
DOWNGRADE
Target $30
GSCO
Sell
Goldman downgrades Nordstrom to Sell, cuts price target to $30 from $37
Goldman Sachs analyst Alexandra Walvis downgraded Nordstrom (JWN) to Sell from Neutral and lowered her price target for the shares to $30 from $37. The analyst is taking a "conservative stance" on the retail sector. The headwinds in Q2 have proven persistent, says the analyst, who sees risk that a second half of the year inflection in earnings growth may not materialize for many companies. Walvis recommends a selective approach in Apparel and prefers stocks with "clear" second half catalysts or strategic actions to drive momentum. She reiterates Buy ratings on both Under Armour (UAA) and Tapestry (TPR) and downgraded both Nordstrom and Ross Stores (ROST) to Sell. She believes Nordstrom's ongoing "comp headwinds" in full line and off price stores are compounded by its ongoing strategic investments and the opening of the company's flagship in New York City.
08/02/19
PIPR
08/02/19
NO CHANGE
PIPR
More tariffs could bring 'near-term pain' for retail margins, says Piper Jaffray
Piper Jaffray analyst Erinn Murphy revisited her views on the Global Lifestyle Brands group after President Trump announced a 10% tariff on all remaining goods coming from China starting September. In her group, Steven Madden (SHOO) and G-III Apparel (GIII) have the most direct incremental exposure to China. Her biggest concern, however, is that the tariffs come right into the back-to-school and holiday season. Goods have been priced and contracts for future orders have been inked, which presents "near-term pain" for gross margins as re-ticketing goods intra-season "can be tricky," Murphy tells investors in a research note. Retail stocks reacted aggressively on yesterday afternoon following Trump's tweet, which creates some opportunities, says Murphy. The analyst would be buyers of Under Armour (UAA), Nike (NKE) and VF Corp. (VFC). These names have diversified global footprints and lower than average exposure in China, she contends. On the flip side, if the Chinese consumer travels less, Ralph Lauren (RL), PVH Corp. (PVH), Tapestry (TPR), Capri Holdings (CPRI) and G-III could be hurt, cautions Murphy.

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BHP Group

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BHP Group

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BIDU

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Sarepta

$120.16

-4.81 (-3.85%)

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ET

Energy Transfer LP

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0.3 (2.23%)

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AAPL

Apple

$210.32

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$55.71

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$55.71

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Netflix

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Disney

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AT&T

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CBS

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LGIH

LGI Homes

$78.56

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AMZN

Amazon.com

$1,816.29

24.47 (1.37%)

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Walmart

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$12.42

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  • 23

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SRPT

Sarepta

$120.16

-4.81 (-3.85%)

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  • 19

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SRPT

Sarepta

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-4.81 (-3.85%)

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BSX

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FB

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MPW

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  • 19

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WMT

Walmart

$113.76

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MAXR

Maxar Technologies

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RCI

Rogers Communications

$51.30

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