Tapestry: Fiscal 3Q Earnings Snapshot

NEW YORK (AP) _ Tapestry Inc. (TPR) on Thursday reported fiscal third-quarter profit of $117.4 million.

The New York-based company said it had profit of 40 cents per share. Earnings, adjusted for one-time gains and costs, came to 42 cents per share.

The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.

The maker of high-end shoes and handbags posted revenue of $1.33 billion in the period, missing Street forecasts. Nine analysts surveyed by Zacks expected $1.34 billion.

Tapestry expects full-year earnings in the range of $2.55 to $2.60 per share.

Tapestry shares have declined 9% since the beginning of the year. The stock has dropped 33% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TPR at https://www.zacks.com/ap/TPR