Investing.com - Tapestry reported third quarter earnings that beat analysts' expectations on Thursday and revenue that fell short of forecasts.
The firm reported earnings per share of $0.42 on revenue of $1.33B. Analysts polled by Investing.com expected EPS of $0.41 on revenue of $1.34B. That compared to EPS of $0.54 on revenue of $1.32B in the same period a year earlier. The company had reported EPS of $1.07 on revenue of $1.8B in the previous quarter.
For the year, Tapestry shares are down 8.89%, under-performing the S&P 500 which is up 16.25% year to date.
Tapestry follows other major Consumer Cyclical sector earnings this month
On Wednesday, Toyota Motor ADR reported fourth quarter EPS of $2.87 on revenue of $70.34B, compared to forecasts of EPS of $3.41 on revenue of $67.24B.
Volkswagen Pref ADR earnings missed analyst's expectations on Thursday, May 2, 2019, with first quarter EPS of $0.65 on revenue of $67.11B. Investing.com analysts expected EPS of $0.69 on revenue of $65.56B
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