Tapestry Reports Strong Q1 Results with Revenue and EPS Beats
Tapestry (TPR) reported first-quarter non-GAAP earnings per share of $1.82, exceeding analyst expectations by $0.26. The company's revenue reached $1.9 billion, representing an 11.8% year-over-year increase and beating estimates by approximately $50 million. Following these strong results, Tapestry has provided guidance for the second quarter and raised its full-year outlook. The company maintains a significant liquidity position with $782 million in cash and short-term investments, despite having total borrowings of $2.56 billion.
Tickers: $TPR