Tapestry, Inc.’s Stock Price Soars to $57.82, Marking a Robust 12.80% Uptick

Tapestry, Inc. (TPR)

57.82 USD +6.56 (+12.80%) Volume: 9.95M

Witnessing a robust performance, Tapestry, Inc.’s stock price soared to 57.82 USD, marking a significant trading session increase of +12.80%. The company’s stock, trading at a high volume of 9.95M, has experienced an impressive year-to-date surge of +57.08%, reflecting its strong market position and investor confidence.

Latest developments on Tapestry, Inc.

Tapestry Inc. has announced the termination of its merger agreement with Capri Holdings Limited, causing a significant shift in stock prices. Coach parent Tapestry’s stock soared while Capri’s fell as the two fashion giants called off the $8.5 billion merger deal after facing regulatory hurdles, including a block from the FTC. In response to the scrapped merger, Tapestry unveiled a $2 billion share buyback plan and announced its focus on growth and buybacks moving forward. The termination of the merger has led to a surge in Tapestry’s stock price, with investors closely watching the company’s next steps following this major development.

Tapestry, Inc. on Smartkarma

Analysts at Baptista Research on Smartkarma have provided bullish coverage on Tapestry Inc, highlighting the company’s strong performance internationally. In their report titled “Tapestry Inc.: A Story Of Enhanced Brand Building & Consumer Engagement! – Major Drivers,” they noted a 6% growth in international markets, with notable contributions from regions like Europe, Other Asia, and Japan. However, challenges were seen in North America and Greater China, where revenue declined. Despite this, Tapestry Inc showed resilience with a 3% growth in Greater China for the year.

Another report by Baptista Research on Smartkarma, titled “Tapestry Inc.: Synergies From Capri,” discussed the company’s third quarter earnings results. Analysts highlighted Tapestry Inc‘s outperformance, attributing it to disciplined brand building and operational excellence. CEO Joanne Crevoiserat mentioned that total revenue was in line with the previous year on a constant currency basis. Although there was a 2% sales decline in Greater China, the company remains optimistic about long-term prospects and continues to invest in the region.

A look at Tapestry, Inc. Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Based on the Smartkarma Smart Scores, Tapestry Inc has a positive long-term outlook. With strong scores in Growth and Dividend, the company is showing promising signs of expansion and profitability. Additionally, the high Momentum score indicates that Tapestry is gaining traction in the market and attracting investor interest. While the Value and Resilience scores are not as high, the overall outlook for Tapestry remains optimistic.

Tapestry Inc, known for designing and marketing clothes and accessories, is positioned well for future success according to the Smartkarma Smart Scores. With a diverse range of products including handbags, footwear, and fragrance, the company caters to a wide customer base in the United States. The solid scores in Growth and Dividend highlight Tapestry’s potential for continued financial growth and stability, making it a company to watch in the fashion industry.

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