Tapestry Raises Sales and Profit Outlook for 2025 Amid Strong Demand for Coach Products
In a recent development, Tapestry Inc., the renowned parent company of marquee brands such as Coach, Kate Spade, and Stuart Weitzman, has significantly upgraded its annual sales and profit forecasts for the financial year 2025. This upward revision is primarily fueled by robust consumer interest and sales performance specifically in its Coach brand.
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Strong Demand for Coach Brand Leads Tapestry to Raise Financial Outlook
In a significant update from Tapestry Inc., the parent company of renowned fashion brands including Coach, the firm has revised its financial outlook upward due to robust sales performance. The announcement, made on November 7, 2024, highlights the increasing consumer demand, particularly for its flagship Coach brand, which has shown impressive growth in the recent quarter.
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Federal Judge Prevents Tapestry's Acquisition of Capri in Major FTC Victory
In a significant legal development affecting the fashion industry, a federal judge has blocked Tapestry's proposed acquisition of Capri Holdings, a move that has been hailed as a triumph for the Federal Trade Commission (FTC). Tapestry, the parent company of luxury brands like Coach and Kate Spade, had sought to acquire Capri, which owns labels including Versace, Michael Kors, and Jimmy Choo, in a deal valued at approximately $8 billion.
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