×
48 191
Fashion Jobs
L'OREAL GROUP
sr Manager/Director - Brand Signature Lead (Acd)
Permanent · Clark
L'OREAL GROUP
l'Oreal Usa, Manager, Precision Advertising Planner
Permanent · New York
L'OREAL GROUP
l'Oreal Professional Products Division, Senior Manager, Customer Marketing (Redken)
Permanent · New York
L'OREAL GROUP
Junior Sales Associate - Brand Business Development, l'Oreal Paris (Cosmetics)
Permanent · New York
ABERCROMBIE AND FITCH CO.
Career Level Merchandise Planner
Permanent · Columbus
LEVI'S
pt Sales Supervisor, Clarksburg, md
Permanent · Clarksburg
VICTORIA'S SECRET
Brand Operations Manager-Crossgates Mall vs
Permanent · Albany
BATH & BODY WORKS
Manager, Digital Merchandising
Permanent · Reynoldsburg
VICTORIA'S SECRET
Director, Marketing Operations
Permanent · New York
VICTORIA'S SECRET
Brand Operations Manager-The Mall in Columbia
Permanent · Columbia
JCPENNEY
Director, Omni Creative Marketing
Permanent · Plano
JCPENNEY
Buyer - Juniors
Permanent · Plano
JCPENNEY
sr Buyer - Intimates
Permanent · Plano
JCPENNEY
Corporate Senior Specialist - Asset Protection
Permanent · Plano
JCPENNEY
Transportation Manager - Dallas, tx
Permanent · Plano
JCPENNEY
Director, Inclusion & Diversity - Human Resources
Permanent · Plano
JCPENNEY
Manager - IT Support And Operations
Permanent · Plano
JCPENNEY
HR Senior Specialist - Benefits/Retirement
Permanent · Plano
JCPENNEY
Design Director - Active
Permanent · Plano
JCPENNEY
Product Manager - Customer Service & Pick Pack Applications
Permanent · Plano
NEIMAN MARCUS
Marketing Manager, Esg / ps
Permanent · Dallas
NEIMAN MARCUS
Loss Prevention Investigator
Permanent · Dallas
By
Reuters
Published
Feb 4, 2021
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Tapestry profit beats holiday-quarter estimates as China demand soars

By
Reuters
Published
Feb 4, 2021

Tapestry Inc beat quarterly profit estimates on Thursday on higher demand for luxury goods in China and fewer holiday discounts, sending the shares of the Coach handbag maker up nearly 3%.


Photo: J. Lo for Coach



Affluent customers in China returned to shopping within the country as the coronavirus restrictions eased in the second half of 2020, boosting the New York fashion house’s revenue from the key Asian market by more than 30% in its second quarter.

Gross margin expanded by 300 basis points as Tapestry sells products at a relatively higher prices in mainland China. It also benefited from a reduction in shipments to discount-prone department stores.

The company’s net income rose over 4% to $311 million, or $1.11 per share, in the quarter ended Dec. 26. Excluding items, it earned $1.15 per share, while analysts had expected $1.01 per share, according to IBES data from Refinitiv.

Net sales fell about 7% to $1.69 billion, hurt by store closures and capacity restriction, but beat market expectation of $1.63 billion.

Tapestry said it expects full-year revenue to increase at a high-single digit rate on a 52-week basis and around 10% on 53-week basis. Analysts expected full-year revenue to rise 6.9%.

© Thomson Reuters 2021 All rights reserved.