Tapestry, Inc. Q3 Profit Decreases, But Beats Estimates

(RTTNews) - Tapestry, Inc. (TPR) released earnings for third quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $139.4 million, or $0.60 per share. This compares with $186.7 million, or $0.78 per share, in last year's third quarter.

Excluding items, Tapestry, Inc. reported adjusted earnings of $190.1 million or $0.81 per share for the period.

Analysts on average had expected the company to earn $0.67 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.0% to $1.48 billion from $1.51 billion last year.

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

-Earnings (Q3): $139.4 Mln. vs. $186.7 Mln. last year. -EPS (Q3): $0.60 vs. $0.78 last year. -Revenue (Q3): $1.48 Bln vs. $1.51 Bln last year.

-Guidance: Full year EPS guidance: $4.20 to $4.25 Full year revenue guidance: $6.6 Bln