NEW YORK (AP) — NEW YORK (AP) — Tapestry Inc. (TPR) on Thursday reported fiscal fourth-quarter earnings of $159.3 million.
The New York-based company said it had net income of 68 cents per share. Earnings, adjusted for non-recurring costs, came to 92 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 88 cents per share.
The maker of high-end shoes and handbags posted revenue of $1.59 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $1.57 billion.
For the year, the company reported profit of $816 million, or $3.50 per share. Revenue was reported as $6.67 billion.
Tapestry expects full-year earnings in the range of $4.45 to $4.50 per share, with revenue expected to be $6.7 billion.
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