NEW YORK (AP) — NEW YORK (AP) — Tapestry Inc. (TPR) on Thursday reported fiscal first-quarter profit of $274.8 million.
On a per-share basis, the New York-based company said it had profit of $1.28. Earnings, adjusted for costs related to mergers and acquisitions and non-recurring costs, came to $1.38 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.25 per share.
The maker of high-end shoes and handbags posted revenue of $1.7 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $1.64 billion.
Tapestry expects full-year earnings in the range of $5.45 to $5.60 per share.
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