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Strength Seen in Tapestry (TPR): Can Its 13.5% Jump Turn into More Strength?
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Tapestry (TPR - Free Report) shares rallied 13.5% in the last trading session to close at $50.49. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 5.4% loss over the past four weeks.
Tapestry's growth strategy hinges on strengthening its brand, enhancing customer engagement, and expanding its market presence. The company’s strong international performance highlights its adaptability and resilience across diverse markets. Additionally, Tapestry’s investment in omni-channel experiences and advanced fulfillment capabilities reflects its dedication to meeting changing consumer expectations.
This maker of high-end shoes and handbags is expected to post quarterly earnings of $0.95 per share in its upcoming report, which represents a year-over-year change of +2.2%. Revenues are expected to be $1.47 billion, down 2.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Tapestry, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on TPR going forward to see if this recent jump can turn into more strength down the road.
Tapestry is a member of the Zacks Retail - Apparel and Shoes industry. One other stock in the same industry, Allbirds, Inc. (BIRD - Free Report) , finished the last trading session 0.4% higher at $10.44. BIRD has returned -10.6% over the past month.
Allbirds, Inc.'s consensus EPS estimate for the upcoming report has changed -4.4% over the past month to -$3.13. Compared to the company's year-ago EPS, this represents a change of +25.5%. Allbirds, Inc. currently boasts a Zacks Rank of #3 (Hold).
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Strength Seen in Tapestry (TPR): Can Its 13.5% Jump Turn into More Strength?
Tapestry (TPR - Free Report) shares rallied 13.5% in the last trading session to close at $50.49. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 5.4% loss over the past four weeks.
Tapestry's growth strategy hinges on strengthening its brand, enhancing customer engagement, and expanding its market presence. The company’s strong international performance highlights its adaptability and resilience across diverse markets. Additionally, Tapestry’s investment in omni-channel experiences and advanced fulfillment capabilities reflects its dedication to meeting changing consumer expectations.
This maker of high-end shoes and handbags is expected to post quarterly earnings of $0.95 per share in its upcoming report, which represents a year-over-year change of +2.2%. Revenues are expected to be $1.47 billion, down 2.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Tapestry, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on TPR going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Tapestry is a member of the Zacks Retail - Apparel and Shoes industry. One other stock in the same industry, Allbirds, Inc. (BIRD - Free Report) , finished the last trading session 0.4% higher at $10.44. BIRD has returned -10.6% over the past month.
Allbirds, Inc.'s consensus EPS estimate for the upcoming report has changed -4.4% over the past month to -$3.13. Compared to the company's year-ago EPS, this represents a change of +25.5%. Allbirds, Inc. currently boasts a Zacks Rank of #3 (Hold).