Coach-owner Tapestry sales fall 7% in holiday quarter


Shoppers pass a Coach display in Macy’s, New York.

Scott Mlyn | CNBC

Coach-owner Tapestry said Thursday its sales fell 7% during the holiday quarter as the retailer tries to claw its way back from the losses seen during the pandemic.

The company appeared more optimistic, however, about shopper demand strengthening later this year, but it declined to give a specific earnings forecast.

CEO Joanne Crevoiserat said Tapestry managed to sell more of its bags, including those under the Kate Spade brand, at full price during the holiday season as it decreases its reliance on promotions to lure in shoppers.

Tapestry shares were up more than 3% in midday trading.

Here’s what the company reported for its…

Source cnbc.com

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