The company's gross profit increased to $ 1.21 billion, which resulted in a gross margin of 76.1 percent, an improvement of approximately 140 bp from 74.7 percent of the previous year.
Tapestry, INC has reported net sales of the third year of $ 1.58 billion, an increase of 7 percent year -on -year, with strong profits in the coach and DTC channels. Net income reached $ 203 million. More than 1.2 million new North American clients were added, mainly the Z and millennial generation. The company increased its income perspective for fiscal year 2015 to $ 6.95 billion and expects profits per share of around $ 5, which reflects the growth of high adolescence.
The business offered a convincing omnichannel experience, with direct income to the consumer (DTC) increased by 9 percent in constant currency, including a percentage increase of adolescents in digital growth and an average digit in global brick and mortar sales, backed by increased profitability in all channels, Tapestry said in a press release.
Innovation remained a key approach, with strong bag sales and a percentage increase in adolescents in the average retail sale (aur) in the coach, highlighting excellence in the product and the attractiveness of the consumer. The company continued to take advantage of its agile and agile global supply chain to boost innovation, guarantee value delivery and administer the inventory effectively, supporting its accelerated growth and margin expansion.
The net income was $ 203 million, with gaap earnings per diluted share of $ 0.95 and non -gaap earnings of $ 220 million or $ 1.03 per share.
In the third quarter of fiscal year 2015, the company strengthened its customer base by acquiring more than 1.2 million new clients in North America, with consumers of generation Z and the millennial that represent approximately two thirds of this growth, added the launch.
The company won 9 percent in North America, 35 percent in Europe and 4 percent in Total Pacific (APAC).
As for the brand, the coach achieved an increase in income of 13 percent year -on -year, or 15 percent on a constant currency, driven by the continuous demand of consumers and product innovation. In contrast, Kate Spade experienced a 13 percent decrease in income (12 percent in constant currency), reflecting continuous brand repositioning efforts. Meanwhile, Stuart Weitzman saw a decrease in income of 18 percent year -on -year, or 17 percent in constant currency.
“Our superior performance of the third quarter reinforces our position of force. We accelerate the upper and lower growth and raise our perspective for the fiscal year, which demonstrates the power of the construction of brands and our connections with consumers around the world. It is important, while the external background curtain is complex, our vision remains clear,” he said, “he said,” he said Joanne Crevoiserat, Executive Director (CEO) of Tapestry, Inc.
“We maintain a bias for action and we will take advantage of our competitive advantages, including our global scale, convincing value and strong foundations, to adapt and win in any environment. We trust our future and the significant opportunity to offer lasting growth and a value of shareholders,” Crevoiserat added.
For the full 2015 fiscal year, Tapestry anticipates revenues of approximately $ 6.95 billion, which reflects a 4 percent increase in Yoy, which includes a wind against almost 50 bp, exceeding its previous prognosis of around 3 percent growth.
The operational margin is still expected to expand in approximately 100 bp since the previous year. It is projected that the net interest expenses will be around $ 25 million, improved with respect to the previous estimate of $ 35 million. It is forecast that the profits per diluted share will reach around $ 5, marking a percentage increase of adolescents compared to the previous year and exceeding the previous guide of $ 4.85 to $ 4.90, the statement added.
Fiber2Fashion News Desk (SG)
