Tapestry Boosts FY23 Outlook; Raises Dividend 20% - Update

RTTNews | 824 days ago
Tapestry Boosts FY23 Outlook; Raises Dividend 20% - Update

(RTTNews) - While reporting financial results for the third quarter on Thursday, Tapestry, Inc. (TPR) raised its earnings and revenue guidance for the full year 2023, due to its outperformance in the third fiscal quarter.

For fiscal 2023, the company now projects earnings in a range of $3.85 to $3.90 per share on revenues approaching $6.7 billion, with constant currency revenue growth of about 3 percent.

Previously, the company expected earnings in the range of $3.70 to $3.75 per share on revenues approximately $6.6 billion, with constant currency revenue growth of about 2 to 3 percent.

On average, 20 analysts polled by Thomson Reuters expect the company to report earnings of $3.71 per share on revenue of $6.64 billion for the year. Analysts' estimates typically exclude special items.

The Company also continues to expect to return approximately $1.0 billion to shareholders in Fiscal 2023, with repurchase of approximately $700 million in common stock and payment of a 20 percent higher annual dividend of $1.20 per share.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

read more
European Shares Seen Up On Fed Rate Cut Hopes

European Shares Seen Up On Fed Rate Cut Hopes

European stocks are seen opening higher on Wednesday as July U.S. CPI inflation data suggested little impact from President Trump's tariffs, reinforcing bets the Federal Reserve will cut interest rates to support a cooling labor market.
RTTNews | 1h 18min ago
Sensex, Nifty Modestly Higher In Early Trade

Sensex, Nifty Modestly Higher In Early Trade

Indian shares opened on a firm note Wednesday after official data showed India's consumer price inflation eased more-than-expected in July to the lowest level in just over eight years, bringing inflation below RBI's tolerance band and raising prospects of another interest rate cut.
RTTNews | 2h 16min ago
Australian Market Extends Early Losses In Mid-market

Australian Market Extends Early Losses In Mid-market

The Australian stock market is extending its early losses in mid-market moves on Wednesday, reversing the gains in the previous two sessions, with the benchmark S&P/ASX 200 falling well below the 8,850 level, despite the broadly positive cues from Wall Street overnight, with weakness in energy and financial stocks partially offset by gains in mining and technology stocks.
RTTNews | 3h 31min ago
Asian Markets Track Wall Street Higher

Asian Markets Track Wall Street Higher

Asian stock markets are trading mostly higher on Wednesday, following the broadly positive cues from Wall Street overnight, boosted by Hong Kong and Japanese markets amid improved outlook for interest rates after US consumer price inflation for July came in line with expectations. The U.S. and China also confirmed a 90-day extension of their trade truce. Asian markets closed mixed on Tuesday.
RTTNews | 3h 42min ago
Rebound Anticipated For Thai Stock Market

Rebound Anticipated For Thai Stock Market

Ahead of the long holiday weekend for Queen Sirikit's birthday, the Thai stock market had ended the four-day winning streak in which it had surged almost 50 points or 4.1 percent. The Stock Exchange of Thailand now sits just beneath the 1,260-point plateau although it's expected to bounce higher again on Wednesday.
RTTNews | 4h 50min ago
Japanese Market Sharply Higher

Japanese Market Sharply Higher

The Japanese stock market is sharply higher on Wednesday, extending the gains in the previous six sessions, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving a tad above the 43,300 level to fresh record all-time highs, with gains across all sectors led by exporters and financial stocks.
RTTNews | 5h 8min ago