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Tapestry Boosts FY23 Outlook; Raises Dividend 20% - Update

RTTNews | 1225 days ago

Tapestry Boosts FY23 Outlook; Raises Dividend 20% - Update

(RTTNews) - While reporting financial results for the third quarter on Thursday, Tapestry, Inc. (TPR) raised its earnings and revenue guidance for the full year 2023, due to its outperformance in the third fiscal quarter.

For fiscal 2023, the company now projects earnings in a range of $3.85 to $3.90 per share on revenues approaching $6.7 billion, with constant currency revenue growth of about 3 percent.

Previously, the company expected earnings in the range of $3.70 to $3.75 per share on revenues approximately $6.6 billion, with constant currency revenue growth of about 2 to 3 percent.

On average, 20 analysts polled by Thomson Reuters expect the company to report earnings of $3.71 per share on revenue of $6.64 billion for the year. Analysts' estimates typically exclude special items.

The Company also continues to expect to return approximately $1.0 billion to shareholders in Fiscal 2023, with repurchase of approximately $700 million in common stock and payment of a 20 percent higher annual dividend of $1.20 per share.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

Tags: TPR

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Tapestry Boosts FY24 EPS Outlook; Declares Dividend - Update

Tapestry Boosts FY24 EPS Outlook; Declares Dividend - Update

While reporting financial results for the second quarter on Thursday, Tapestry, Inc. (TPR) raised its earnings guidance for the full year 2024, while maintaining annual revenue outlook.

RTTNews | 952 days ago

Japanese Market Significantly Higher

Japanese Market Significantly Higher

The Japanese market is trading significantly higher on Friday, extending the gains in the previous two sessions, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving above the 64,700 level, with gains in index heavyweights and technology stocks partially offset by weakness in automakers, exporters and financial stocks.

RTTNews | 9 minutes ago

Hang Seng Tipped To Remain Rangebound

Hang Seng Tipped To Remain Rangebound

The Hong Kong stock market has alternated between positive and negative finishes through the last four trading days since the end of the five-day losing streak in which it had given up more than 850 points or 3 percent. The Hang Seng Index now sits just above the 24,600-point plateau although it's expected to reverse those losses on Friday.

RTTNews | 17 minutes ago

Australian Market Modestly Higher

Australian Market Modestly Higher

The Australian stock market is trading modestly higher on Friday, extending the gains in the previous two sessions, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,750 level, with gains in mining stocks partially offset by weakness in energy and technology stocks.

RTTNews | 31 minutes ago

Rebound Predicted For China Stock Market

Rebound Predicted For China Stock Market

The China stock market turned lower again on Thursday, one day after ending the four-day losing streak in which it had slumped more than 85 points or 2.3 percent. The Shanghai Composite Index now sits just above the 3,875-point plateau although it's likely to bounce back to the upside again on Friday.

RTTNews | 32 minutes ago

Win Streak May Continue For Taiwan Stock Market

Win Streak May Continue For Taiwan Stock Market

The Taiwan stock market has tracked higher in consecutive trading days, improving more than 775 points or 1.7 percent along the way. The Taiwan Stock Exchange now sits just beneath the 46,290-point plateau and it may see additional support on Friday.

RTTNews | 1h 2min ago

Singapore Stock Market May Crack 5,700-Point Barrier

Singapore Stock Market May Crack 5,700-Point Barrier

The Singapore stock market on Thursday snapped the two-day slide in which it had dropped almost 85 points or 1.7 percent. The Straits Times Index now sits just above the 5,660-point plateau and it may extend its gains on Friday.

RTTNews | 1h 32min ago

Malaysia Stock Market May Halt Losing Streak

Malaysia Stock Market May Halt Losing Streak

The Malaysia stock market has finished lower in back-to-back sessions, slipping almost 25 points or 1.6 percent in that span. The Kuala Lumpur Composite Index now sits just shy of the 1,675-point plateau although it may stop the bleeding on Friday.

RTTNews | 2h 2min ago

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