Luxury brands diverge: Tapestry stock rises while Capri slides after earnings
Publishing timestamp: 2023-02-09 16:49:48
Summary
Tapestry, the company behind Coach and Kate Spade, beat analyst expectations and raised its annual profit forecast, despite slowing traffic in China. Capri Holdings, whose brands include Michael Kors and Versace, had a disappointing third quarter earnings report. Tapestry has spent years retooling its brands and making them relevant for Gen Z and millennial consumers, and Ralph Lauren also beat third quarter expectations.
Sentiment: POSITIVE
Keywords: luxury, business news, ralph lauren corp, michael kors, fashion, retail industry, capri holdings ltd, earnings, tapestry inc, kate spade,
Source: https://www.cnbc.com/2023/02/09/tapestry-gains-capri-slides.html