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Asset Protection Lead - Boston Seaport
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ESTEE LAUDER
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ABERCROMBIE AND FITCH STORES
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ABERCROMBIE AND FITCH CO.
Lead Auditor - Data, Technology, & Compliance Risk (Remote)
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Lead Auditor - Operational & Compliance
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ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Manager in Training, Seattle Outlets
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MICHAEL KORS
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NORDSTROM
Area Manager Warehouse - 3rd Shift Inventory - San Bernardino, ca
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NORDSTROM
Area Manager Warehouse - 2nd Shift Inventory - San Bernardino, ca
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Manager - Asset Protection - Chestnut Rack
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Senior Manager of Merchandise Inventory - Replenishment
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Asset Protection - Security Ambassador - Irvine Spectrum Center
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Asset Protection - Agent - Market Street Rack
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Asset Protection - Security Ambassador - Market Street Rack
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Operations Manager Warehouse - 3rd Shift - San Bernardino, ca
Permanent · San Bernardino
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Manager - Asset Protection - King of Prussia
Permanent · King of Prussia
NORDSTROM
Area sc Manager 2
Permanent · San Bernardino
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Asset Protection - Agent - The Shoppes at University Center Rack
Permanent · Bradenton
NORDSTROM
Assoc Manager, SEO Content Strategy - Remote
Permanent · Seattle
NEIMAN MARCUS
Manager Retail Performance & Store Operations- San Diego
Permanent · San Diego
CORPORATE
Associate Product Manager
Permanent · Irving
TALENT
Loss Prevention Representative (2nd Shift)
Permanent · Lynchburg
By
Reuters
Published
Feb 10, 2022
Reading time
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Tapestry lifts annual forecast as luxury demand booms

By
Reuters
Published
Feb 10, 2022

Tapestry Inc raised its full-year revenue and profit forecast on Thursday as consumers splurge on luxury handbags and apparel in the United States and Europe, boosting the Kate Spade owner's shares 3% in premarket trade.


Coach - Spring-Summer2022 - Womenswear - New York - © PixelFormula



Rivals Capri, Ralph Lauren and Europe's LVMH also benefited from a rebound in demand for high-end fashion as cooped-up customers returned to social events and offices.
Tapestry, which also owns Coach and Stuart Weitzman, raised its share buyback target for the year to $1.25 billion from $1 billion.

Luxury goods companies have been struggling with rising costs though, after the pandemic drove up labor shortages, freight charges and inflation, forcing Tapestry and its peers to raise prices in response.

"The pandemic taught companies they could sell less, charge more and make more money. Who chooses to retain those learnings will be key," BMO Capital Markets analyst Simeon Siegel said.

"(Tapestry) continues to show a meticulous approach on driving up price and elevating their brand. This is helping to mitigate the freight and other supply chain pressures being felt by all."

The luxury goods maker's gross margin was 68.1% for the second quarter, dragged by higher freight costs incurred to maintain product flow and meet consumer demand.

The company forecast fiscal 2022 revenue of about $6.75 billion, compared with a prior estimate of nearly $6.6 billion. It expects annual profit of $3.60 to $3.65 per share, up from $3.45 to $3.50 earlier.

Total revenue rose 27% to $2.14 billion in the second quarter ended Jan. 1, surpassing analysts' average estimate of $2 billion, according to IBES data from Refinitiv.

On an adjusted basis, it earned $1.33 per share, above estimates of $1.18.

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