** Handbag maker Tapestry's shares rise 3% to $58.10 premarket
** Co announces Accelerated Share Repurchase $(ASR)$ agreements with Bank of America and Morgan Stanley
** TPR plans to repurchase $2 bln worth of common stock
** ASR is part of co’s recently expanded $2.8 bln share repurchase authorization
** TPR expects to return over 100% of its free cash flow to shareholders in fiscal 2025 through dividends and share repurchases
** Co aims to fund repurchases with $750 mln of borrowings under new term loan credit agreement, $1 bln of borrowings under revolving credit facility and $250 mln in cash on hand
** ASR agreements expected to settle by Q1 of fiscal 2026, ending September 27, 2025 - co
** As of last close, stock up ~53% YTD
(Reporting by Ragini Mathur)
((Ragini.Mathur@thomsonreuters.com;))
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。