×
2 554
Fashion Jobs
NORDSTROM
Asset Protection - Agent - Heartland Town Center Rack
CDI · Mississauga
LULULEMON
Assistant Manager, Operations | Upper Canada Mall
CDI · Newmarket
AESOP
Part-Time Retail Consultant | Aesop Kitsilano
CDI · Vancouver
LULULEMON
Assistant Manager, Operations | Bower Place
CDI · Red Deer
SHISEIDO
Director, Human Resources
CDI · Markham
MICHAEL KORS
ft Sales Supervisor
CDI · Mississauga
ADIDAS
Senior Finance Manager, Commercial
CDI · Vaughan
ADIDAS
Director of Finance - Adidas
CDI · Vaughan
MICHAEL KORS
Full Time Sales Supervisor - Scarborough Town Centre
CDI · Toronto
LULULEMON
Assistant Manager, Operations | Scarborough Town Centre
CDI · Toronto
LULULEMON
Assistant Manager, Operations | Lululemon Abbotsford
CDI · Abbotsford
NORDSTROM
Asset Protection - Security Ambassador - Pacific Centre
CDI · Vancouver
NORDSTROM
Asset Protection - Agent - Pacific Centre
CDI · Vancouver
AESOP
Retail Consultant | Eaton Centre
CDI · Toronto
TJX CANADA
Loss Prevention Customer Service Agent - Thunder Bay
CDI · Thunder Bay
WINNERS
Jewelry Consultant, Full Time, Winners & Homesense, Coquitlam
CDI · Coquitlam
MICHAEL KORS
Superviseur Des Ventes Dix30/Sales Supervisor ft- Dix30
CDI · Brossard
ON RUNNING
Sales Representative
CDI · VANCOUVER
TAPESTRY
Sales (Bilingual) Supervisor i
CDI · Halton Hills
MICHAEL KORS
Gestionnaire Des Ressources Humaines – Canada/Human Resources Manager – Canada
CDI · Montreal
ESTEE LAUDER
Associate Consultant - Clinique - Toronto, on
CDI · Toronto
TJX CANADA
Loss Prevention Store Investigator - Sudbury
CDI · Greater Sudbury
By
Reuters
Published
Feb 10, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Tapestry lifts annual forecast as luxury demand booms

By
Reuters
Published
Feb 10, 2022

Tapestry Inc raised its full-year revenue and profit forecast on Thursday as consumers splurge on luxury handbags and apparel in the United States and Europe, boosting the Kate Spade owner's shares 3% in premarket trade.


Coach - Spring-Summer2022 - Womenswear - New York - © PixelFormula



Rivals Capri, Ralph Lauren and Europe's LVMH also benefited from a rebound in demand for high-end fashion as cooped-up customers returned to social events and offices.
Tapestry, which also owns Coach and Stuart Weitzman, raised its share buyback target for the year to $1.25 billion from $1 billion.

Luxury goods companies have been struggling with rising costs though, after the pandemic drove up labor shortages, freight charges and inflation, forcing Tapestry and its peers to raise prices in response.

"The pandemic taught companies they could sell less, charge more and make more money. Who chooses to retain those learnings will be key," BMO Capital Markets analyst Simeon Siegel said.

"(Tapestry) continues to show a meticulous approach on driving up price and elevating their brand. This is helping to mitigate the freight and other supply chain pressures being felt by all."

The luxury goods maker's gross margin was 68.1% for the second quarter, dragged by higher freight costs incurred to maintain product flow and meet consumer demand.

The company forecast fiscal 2022 revenue of about $6.75 billion, compared with a prior estimate of nearly $6.6 billion. It expects annual profit of $3.60 to $3.65 per share, up from $3.45 to $3.50 earlier.

Total revenue rose 27% to $2.14 billion in the second quarter ended Jan. 1, surpassing analysts' average estimate of $2 billion, according to IBES data from Refinitiv.

On an adjusted basis, it earned $1.33 per share, above estimates of $1.18.

© Thomson Reuters 2022 All rights reserved.