Tapestry sees flat quarter amid weak luxury market
Inside Retail
NOVEMBER 9, 2024
Tapestry has reported a 0.4 per cent decline in sales for the first quarter, which an analyst considered as “not too shoddy” given the softness in the wider luxury market. For the quarter ended September 28, net sales were US$1.507 billion compared to $1.513 billion in the year-ago period. According to GlobalData MD Neil Saunders, the results are “far from terrible” and represented an improvement on the prior quarter.
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