Tapestry, Inc. Q2 Profit Increases, beats estimates

(RTTNews) - Tapestry, Inc. (TPR) revealed a profit for its second quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $317.9 million, or $1.15 per share. This compares with $311.0 million, or $1.11 per share, in last year's second quarter.

Excluding items, Tapestry, Inc. reported adjusted earnings of $367.9 million or $1.33 per share for the period.

Analysts on average had expected the company to earn $1.18 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 26.6% to $2.14 billion from $1.69 billion last year.

Tapestry, Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $317.9 Mln. vs. $311.0 Mln. last year. -EPS (Q2): $1.15 vs. $1.11 last year. -Analyst Estimate: $1.18 -Revenue (Q2): $2.14 Bln vs. $1.69 Bln last year.

-Guidance: Full year EPS guidance: $3.60 - $3.65 Full year revenue guidance: $6.75 Bln