×
33 129
Fashion Jobs
NORDSTROM
Loss Prevention Security Ambassador Long Island Rack
Permanent · Garden City
NORDSTROM INC
Loss Prevention Security Ambassador King of Prussia
Permanent · King of Prussia
NORDSTROM
Loss Prevention Agent West Oaks Rack
Permanent · Novi
NORDSTROM INC
Loss Prevention Security Ambassador Chandler Festival Rack
Permanent · Chandler
NORDSTROM INC
Operations Manager - San Bernardino, ca
Permanent · San Bernardino
NORDSTROM INC
Loss Prevention Agent - Tysons Corner
Permanent · McLean
NORDSTROM
Loss Prevention Security Ambassador Troy Market Place Rack
Permanent · Troy
PACSUN
E-Commerce Photo Studio Manager
Permanent · Anaheim
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Grand Junction
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Conway
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Asheville
KOHLS
Full-Time Loss Prevention Officer
Permanent · Yuba City
KOHLS
Full-Time Sales Supervisor - Hardlines
Permanent · Las Vegas
KOHLS
Full-Time Sales Supervisor - Hardlines
Permanent · Waite Park
THE ESTEE LAUDER COMPANIES
Keyholder - Cosmetic Company Store - Part Time - Columbus Outlet Center - Columbus, oh
Permanent · COLUMBUS
L BRANDS
Asset Protection Officer, Broad st - 2nd Shift (3pm -11pm)
Permanent · Reynoldsburg
VICTORIA'S SECRET
Brand Operations Manager-Alamance Crossing
Permanent · Burlington
VICTORIA'S SECRET
Brand Operations Manager-University vt
Permanent · South Burlington
PINK
Brand Operations Manager-Gurnee Mills
Permanent · Gurnee
VICTORIA'S SECRET
Associate Merchandise Planner, Victoria's Secret Beauty
Permanent · New York
DARPHIN
Coordinator, na Ecommerce - Darphin
Permanent · New York
RAG & BONE
Sales Supervisor (Full-Time) - Manhasset
Permanent · Manhasset
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.