Tapestry Loses $652 Million For Year, But Beats Quarterly Expectations
Tapestry registered big losses last year, but manage to turn in better-than-expected fourth-quarter results, reassuring Wall Street.
The fashion house — parent company to Coach, Kate Spade and Stuart Weitzman brands — narrowly beat analyst expectations for the quarter, but still logging a $652 million loss for the year. Shares of Tapestry, which closed up 0.5 percent Wednesday to $15.60 a piece, shot up nearly 5 percent during Thursday’s pre-market hours as a result.
Looks from the Kate Spa…