NEW YORK (AP) — NEW YORK (AP) — Tapestry Inc. (TPR) on Thursday reported fiscal first-quarter net income of $186.6 million.
On a per-share basis, the New York-based company said it had net income of 79 cents. Earnings, adjusted for costs related to mergers and acquisitions, were $1.02 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 95 cents per share.
The maker of high-end shoes and handbags posted revenue of $1.51 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $1.47 billion.
Tapestry expects full-year earnings in the range of $4.50 to $4.55 per share.
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