Tapestry Inc. ($TPR) Stock Forecast: Up 8.6% Today

What is Tapestry Inc.?

Tapestry Inc. (NYSE: TPR) is a well-known New York-based luxury fashion company renowned for its brands such as Coach, Kate Spade, and Stuart Weitzman. The company specializes in handbags, accessories, and ready-to-wear items within the retail industry.

Why is Tapestry Inc. going up?

TPR stock is up 8.6% on Nov 14, 2024 14:42

• TPR stock saw a significant bullish trend today.
• The cancellation of the $8.5 billion merger agreement with Capri Holdings (NYSE: CPRI) potentially alleviated investor uncertainty, resulting in a positive market sentiment.
• Tapestry's strong Q1 earnings performance, expansion of gross margin, and increased fiscal 2025 forecast likely boosted investor confidence and attracted new buyers, particularly from the Gen Z and Millennial demographics.
• The robust sales results, outperformance in earnings, and enhanced guidance for Q3 further strengthened Tapestry's market position, propelling its stock price upwards.

TPR Price Chart

TPR Technical Analysis

TPR News

Tapestry And Capri Call Off $8.5B Deal Amid Legal Hurdles - Tapestry ( NYSE:TPR ) , Capri Holdings ( NYSE:CPRI )

Tapestry, Inc. TPR shares are trading higher premarket on Thursday after the company disclosed that it has reached an agreement with Capri Holdings Limited CPRI to terminate their merger agreement.

https://www.benzinga.com/news/buybacks/24/11/41971497/tapestry-and-capri-call-off-8-5b-deal-amid-legal-hurdles

Tapestry's Q1 Earnings Beat, Gross Margin Expands, FY25 View Raised

TPR gains over a million new customers in Q1, primarily Gen Z and Millennials, driving strong first-quarter results. The company raises its fiscal 2025 outlook.

https://www.zacks.com/stock/news/2367605/tapestrys-q1-earnings-beat-gross-margin-expands-fy25-view-raised

Tapestry Stock Jumps On Q3 Earnings Beat, Strong Sales, Raised Guidance - Tapestry ( NYSE:TPR )

Tapestry, Inc. TPR reported its fiscal 2025 first-quarter financial results on Thursday before the market opened. Here's what you need to know. What To Know: Tapestry posted adjusted earnings per share of $1.02, beating the consensus estimate of 95 cents, according to Benzinga Pro.

https://www.benzinga.com/news/24/11/41815996/tapestry-stock-jumps-on-q3-earnings-beat-strong-sales-raised-guidance

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Tapestry Inc. Price History

25.09.2024 - TPR Stock was up 14.6%

• TPR stock experienced a strong bullish movement today.
• The judge's decision to block the merger between Capri Holdings and Tapestry Inc might have positively impacted TPR's stock as investors see Tapestry's independence as a strategic advantage.
• The anticipation of Tapestry beating earnings estimates in the upcoming report could have also contributed to the bullish movement, reflecting investor confidence in the company's financial performance.
• Overall, the bullish trend in TPR's stock today could be attributed to both the positive legal development and optimistic market expectations regarding the company's financial results.

25.09.2024 - TPR Stock was up 15.2%

• TPR stock showed significant gains today, defying concerns related to its planned merger with Capri Holdings.
• Following a court ruling that initially impacted Capri Holdings' stock (NYSE: CPRI), Tapestry Inc. managed to rally, displaying resilience under pressure.
• Market optimism about Tapestry Inc.'s upcoming earnings report, with expectations of exceeding estimates, likely contributed to the positive market performance of the stock.

25.09.2024 - TPR Stock was up 13.4%

• TPR stock surged due to positive market sentiment and potential upcoming earnings beat.
• The blockage of Capri Holdings' acquisition by Tapestry might have initially caused some uncertainty and led to a brief dip in the stock price.
• Investors seem optimistic about TPR's future performance, disregarding the temporary setback caused by the failed merger.
• Overall, TPR's bullish movement today reflects investor confidence in the company's ability to deliver strong financial results.

14.10.2024 - TPR Stock was up 8.6%

• TPR stock saw a significant bullish trend today.
• The cancellation of the $8.5 billion merger agreement with Capri Holdings (NYSE: CPRI) potentially alleviated investor uncertainty, resulting in a positive market sentiment.
• Tapestry's strong Q1 earnings performance, expansion of gross margin, and increased fiscal 2025 forecast likely boosted investor confidence and attracted new buyers, particularly from the Gen Z and Millennial demographics.
• The robust sales results, outperformance in earnings, and enhanced guidance for Q3 further strengthened Tapestry's market position, propelling its stock price upwards.

07.10.2024 - TPR Stock was up 5.1%

• TPR stock experienced a bullish movement today following the release of its Q1 earnings report.
• The company beat both earnings and revenue estimates for the quarter, indicating strong financial performance.
• Analyst projections for key metrics also painted a positive picture for TPR, suggesting a favorable outlook for the business moving forward.
• The market responded positively to the earnings beat and optimistic projections, driving the stock price higher as investors gained confidence in Tapestry's performance and growth potential.

04.03.2024 - TPR Stock was down 5.3%

• Tapestry's stock declined, possibly in response to a trademark infringement lawsuit initiated by Coach against The Gap, Inc. This legal conflict could have raised investor concerns regarding brand integrity and legal expenses.
• The lawsuit's negative impact outweighed the positive news of Tapestry's Women's History Month celebrations worldwide. Despite efforts to promote inclusivity and empowerment, the legal issue took precedence, impacting the stock performance.
• Investors may have sold Tapestry's shares due to uncertainty surrounding the lawsuit, evaluating potential financial and reputational consequences of the legal dispute.

09.01.2024 - TPR Stock was up 6.2%

• TPR stock had a strong bullish movement today, with shares trading higher and a 6% increase in early trade.
• The company's second-quarter results exceeded expectations, with a 3% growth in revenue compared to the previous year.
• TPR's strong performance can be attributed to the company's strong holiday quarter, beating sales estimates and benefiting from strong international growth, particularly in China.
• Despite the challenges in the broader economy, Chinese consumers continue to splurge on luxury clothes, contributing to TPR's positive market movement.

04.03.2024 - TPR Stock was down 5.4%

• TPR stock exhibited a bearish movement today.
• A trademark infringement lawsuit filed by Coach, a subsidiary of Tapestry, against The Gap, Inc. could have influenced investor sentiment negatively.
• The legal conflict and possible brand confusion resulting from the unauthorized sale of T-shirts bearing the "Coach" logo may have sparked worries about Tapestry's brand integrity and future sales.
• Investors might be exercising caution concerning the lawsuit's resolution and its potential financial impacts on Tapestry, thereby applying downward pressure on the stock price.

09.01.2024 - TPR Stock was up 6.2%

• The bullish movement in TPR stock today can be attributed to several factors:
• 1. Strong holiday quarter: The company's earnings call highlighted a robust performance during the holiday season, indicating increased sales and positive consumer sentiment.
• 2. Resilient Chinese market: Despite the struggles in China's broader economy, consumers in the country continue to splurge on luxury clothes, which bodes well for Tapestry's brands.
• 3. Better-than-expected results: Tapestry's second-quarter results surpassed expectations, with revenue growth of 3% compared to the previous year. This positive outcome likely contributed to the stock's upward movement.
• 4. Improved outlook: The company's raised FY24 EPS outlook further boosted investor confidence, leading to a surge in Tapestry's shares.
• Overall, Tapestry's strong performance, particularly in the holiday quarter, along with positive market conditions in China, and better-than-expected financial results, likely drove the bullish movement in TPR stock today.

02.03.2024 - TPR Stock was down 5.1%

• The bearish movement in Tapestry, Inc. stock today could be attributed to several factors:
• Despite celebrating Women's History Month with events globally, the market may have been expecting more concrete financial updates or strategic announcements from the company.
• The comparison with other retail-wholesale stocks like Texas Roadhouse may have highlighted relative underperformance, leading to investor concerns.
• While Tapestry's stock had shown significant growth in the past six months, the market sentiment today might have been influenced by profit-taking or broader market conditions impacting the retail sector.
• Investors may be looking for more clarity on how Tapestry plans to sustain its growth trajectory through continued brand engagement and retail innovation amidst evolving consumer preferences and market dynamics.

09.04.2024 - TPR Stock was up 3.1%

• Tapestry Inc (TPR) experienced a bullish market movement today.
• Despite a 2% sales decline year-on-year, the company's adjusted EPS of $0.81 beat analyst estimates, showcasing strong performance.
• The increase in gross profit and margin expansion to 74.7% contributed positively to investor sentiment.
• The market reacted positively to the earnings beat, indicating investor confidence in Tapestry's ability to navigate challenges and deliver results.

06.05.2024 - TPR Stock was up 1.5%

• TPR stock experienced a bullish movement today.
• The company's strategic approach to growth and prioritization of digital transformation is likely driving investor confidence.
• Positive developments highlighting Tapestry's improved relative price performance and focus on mental health initiatives may have contributed to the bullish market movement.
• Investors may be optimistic about TPR's potential for rebound and growth, especially in the luxury retail sector, leading to increased buying interest and driving the stock price higher.