TAPESTRY Reports 0.4% Increase in Revenue in First Quarter of Fiscal Year 2024
November 20, 2023
☀️Earnings Overview
At the end of the first quarter of fiscal year 2024 on September 30 2023, TAPESTRY ($NYSE:TPR) reported total revenue of USD 1513.2 million, which was a 0.4% increase from the same period in the previous year. Net income for the quarter was USD 195.0 million, a 0.2% decrease compared to the prior year.
Analysis
GoodWhale has provided key insights into TAPESTRY‘s wellbeing by analyzing its Star Chart. TAPESTRY is classified as a ‘rhino’, meaning it has achieved moderate revenue or earnings growth. According to Star Chart, TAPESTRY is strong in dividend and profitability and medium in asset and growth. This makes the company an attractive investment option for investors seeking a steady and reliable return on investment. In addition, GoodWhale has assigned TAPESTRY a high health score of 8/10, indicating its financials are strong enough to ride out any crisis without the risk of bankruptcy. With its solid dividend growth and profitability, investors can rest assured that their investments in TAPESTRY will be secure and profitable. Therefore, investors who are looking to diversify their portfolios with reliable companies such as TAPESTRY may be interested in this company. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Tapestry. TAPESTRY_Reports_0.4_Increase_in_Revenue_in_First_Quarter_of_Fiscal_Year_2024″>More…
| Total Revenues | Net Income | Net Margin |
| 6.67k | 935.7 | 14.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Tapestry. TAPESTRY_Reports_0.4_Increase_in_Revenue_in_First_Quarter_of_Fiscal_Year_2024″>More…
| Operations | Investing | Financing |
| 1.22k | -163.9 | -959.1 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Tapestry. TAPESTRY_Reports_0.4_Increase_in_Revenue_in_First_Quarter_of_Fiscal_Year_2024″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 7.14k | 4.73k | 10.54 |
Key Ratios Snapshot
Some of the financial key ratios for Tapestry are shown below. TAPESTRY_Reports_0.4_Increase_in_Revenue_in_First_Quarter_of_Fiscal_Year_2024″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 11.8% | 147.2% | 17.7% |
| FCF Margin | ROE | ROA |
| 15.6% | 31.4% | 10.3% |
Peers
In the luxury goods industry, Tapestry Inc. competes against companies like CCC SA, Prada SpA, and Nordstrom Inc. While each company has its own unique strengths, Tapestry Inc. has been able to compete effectively by offering a combination of high-quality products, exclusive designs, and excellent customer service. As a result, Tapestry Inc. has been able to maintain a loyal customer base and grow its business.
– CCC SA ($LTS:0LS5)
CCA SA is a Chile-based holding company engaged in the telecommunications sector. The Company’s main shareholder is América Móvil, S.A.B. de C.V. (AMX), through its subsidiary Telmex Internacional, S.A.B. de C.V. (Telmex). CCA SA’s subsidiaries include VTR Chile S.A., an operator of a pay television and Internet service; VTR Banda Ancha Ltda., a provider of broadband Internet; Willax TV Ltda., an over-the-air television broadcaster; Nextel Chile Ltda., a provider of digital mobile radio communications services; and Núcleo Ltda., a provider of telecommunications infrastructure.
– Prada SpA ($SEHK:01913)
Prada SpA is an Italian luxury fashion house that designs, manufactures, and markets men’s and women’s clothing, footwear, handbags, and other accessories. The company has a market cap of 96.72B as of 2022 and a Return on Equity of 11.91%. Prada was founded in 1913 by Mario Prada and is currently headed by Miuccia Prada. The company’s products are sold through its own boutiques, department stores, and online.
– Nordstrom Inc ($NYSE:JWN)
Nordstrom, Inc. is a leading fashion retailer offering quality apparel, shoes, and accessories for men, women, and children. Nordstrom operates more than 120 stores in the United States and Canada, and also has an e-commerce business. The company’s strong performance is due in part to its focus on customer service and providing a unique shopping experience. Nordstrom’s market cap is 3.15B as of 2022, and its ROE is 70.09%. Nordstrom is a publicly traded company on the Nasdaq stock exchange.
Summary
TAPESTRY‘s performance for Q1 of FY 2024 saw total revenue increase by 0.4%, bringing in USD 1513.2 million. Net income for the same period was USD 195.0 million, a slight decrease of 0.2% year over year. Despite the slight dip in income, TAPESTRY’s stock price moved up on the news, indicating confidence in the company’s future prospects. Investors should consider TAPESTRY as a potential opportunity, with the potential for future growth and increased returns on their investments.
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