Retail

Tapestry (TPR) Q4 2020 earnings beat expectations

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Coach and Kate Spade owner Tapestry reported a narrower-than-expected loss Thursday, as a strong online business helped offset the impact of closed stores during the coronavirus pandemic

The company said it will slash expenses and turn its focus to digital growth as part of a turnaround plan. It said e-commerce sales shot up by triple digits versus the prior year, as it gained nearly 1 million new customers online in North America during the quarter, many of them younger. 

During a conference call, management discussed the company’s vision to refresh each of its three brands, including Stuart Weitzman, to carve out niche audiences in a crowded market for accessories. Each of the…



Source cnbc.com

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