Investing.com - Tapestry reported on Thursday third quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
Tapestry announced earnings per share of $-0.27 on revenue of $1.07B. Analysts polled by Investing.com anticipated EPS of $-0.11 on revenue of $1.11B. That with comparison to EPS of $0.42 on revenue of $1.33B in the same period a year before.Tapestry had reported EPS of $1.1 on revenue of $1.82B in the previous quarter.Analysts are expecting EPS of $-0.07 and revenue of $1.1B in the upcoming quarter.
Tapestry shares are down 36.78% from the beginning of the year and are trading at $17.05 , down-from-52-week-high.They are under-performing the S&P 500 which is down 9.4% year to date.
Tapestry follows other major Consumer Cyclical sector earnings this month
Tapestry's report follows an earnings beat by Tesla on Wednesday, who reported EPS of $1.24 on revenue of $5.99B, compared to forecasts EPS of $-0.25 on revenue of $6.16B.
Volkswagen 10 Pref ADR had missed expectations on Wednesday with first quarter EPS of $0.08 on revenue of $59.75B, compared to forecast for EPS of $0.12 on revenue of $58.33B.
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