Professional
Added to YB: 2024-05-15
Pitch date: 2024-05-10
TPR [bullish]
Tapestry, Inc.
+216.19%
current return
Author Info
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Company Info
Tapestry, Inc. provides accessories and lifestyle brand products in North America, Greater China, rest of Asia, and internationally.
Market Cap
$21.6B
Pitch Price
$38.97
Price Target
60.00 (-51%)
Dividend
1.51%
EV/EBITDA
11.32
P/E
84.50
EV/Sales
3.48
Sector
Textiles, Apparel and Luxury Goods
Category
special_situation
Tapestry Earnings: Margin Gains Despite Tough Demand Environment; Shares Attractive
TPR: Coach profits offset soft sales of all brands in Q3. 77.7% Coach GM (best in 20 yrs), cost control led to $0.81 adj EPS beat. $60 FVE based on post-Capri deal model, 50% upside. Narrow moat on Coach brand strength & pricing power. Risks: handbag exposure, China reliance, Capri deal execution & debt. Suspended buybacks for Capri deal concerning given undervaluation.
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