Coach revenue rose 16% in the first quarter, while Kate Spade revenue fell 10%, prompting Tapestry to raise its full-year outlook. The overall luxury goods market remains uncertain, while the purchasing behaviour of affluent consumers during the holiday season is a focus.
In its first-quarter results announcement, Tapestry reported that Coach revenue increased 16% year on year, while Kate Spade revenue decreased 10% over the same period.
Following the announcement, Tapestry indicated that it would raise its full-year revenue and earnings outlook.