Tapestry reported first quarter earnings that beat analyst's expectations on Tuesday and revenue that topped forecasts.
The firm reported earnings per share of $0.48 on revenue of $1.38B. Analysts polled by anticipated EPS of $0.45 on revenue of $1.35B. That compared to EPS of $0.42 on revenue of $1.13B in the same period a year earlier. The company had reported EPS of $0.6 on revenue of $1.48B in the previous quarter.
For the year, Tapestry shares are down 7.75%, under-performing the S&P 500 which is down 1.58% year to date.
Tapestry follows other major Consumer Cyclical sector earnings this month
On October 24, Tesla (NASDAQ:TSLA) reported third quarter EPS of $2.9 on revenue of $6.82B, compared to forecasts of EPS of $-0.03 on revenue of $6.05B.
Illinois Tool Works (NYSE:ITW) earnings beat analyst's expectations on October 24, with third quarter EPS of $1.9 on revenue of $3.61B. analysts expected EPS of $1.88 on revenue of $3.72B
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