Tapestry is raising its full-year forecast, betting on the strength of its Coach brand during the holiday season, while Kate Spade remains a work in progress as the company tries to improve its performance by focusing on brand identities, consumer experiences and product offerings.
The company’s first-quarter results reflected the steady demand for Coach’s core leather goods, mainly through growing engagement with younger consumers, alongside efforts to expand its global reach.
“Looking ahead, Tapestry continues to operate from a position of strength, in our view. After a strong fiscal **** and just one quarter into fiscal ****, Tapestry raised its full year expectations with a notable increase in gross margin,” Dana Telsey, chief research officer, Telsey Advisory Group said.
