Shares of Tapestry Inc. (TPR) rallied 6.02% in pre-market trading on Thursday, buoyed by the luxury fashion house's impressive fiscal second-quarter earnings that surpassed Wall Street estimates.
Tapestry reported Q2 net income of $310 million, driven by a stellar performance across its brands. Net sales for the quarter climbed to $2.2 billion, comfortably outpacing the consensus estimate of $2.109 billion. The company's operating income hit $493 million, translating to an operating margin of 22.4%.
The strong results underscore Tapestry's ability to drive growth through its diversified brand portfolio, which includes Coach, Kate Spade, and Stuart Weitzman. Investors cheered the robust financial metrics, sending Tapestry's stock soaring in early trading ahead of the market open.
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