By Suzanne Kapner
Consumers are snapping up expensive handbags and other goods-when brands deliver what they want.
-- Shares in Tapestry $(TPR)$ soared premarket after the luxury-fashion company reported a 5% increase in quarterly revenue, and raised annual guidance. But all the growth was at its Coach brand, where sales rose 11%. Kate Spade and Stuart Weitzman sales fell 10% and 16%, respectively.
-- Shares of Ralph Lauren $(RL)$ also climbed premarket, after the company reported an 11% increase in quarterly revenue and raised its fiscal-year outlook.
-- Under Armour stock $(UA)$ jumped on signs the sportswear brand is making progress in stemming discounting and slowing a sales slump. It expects sales for the year ending in March will fall about 10%, an improvement on its previous forecast.
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(END) Dow Jones Newswires
February 06, 2025 09:08 ET (14:08 GMT)
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