Shares of Tapestry Inc. ( ) are rallying on Thursday following the company's second-quarter results, which beat analyst expectations for both revenue and profit. The luxury goods giant, which owns popular brands Kate Spade, Stuart Weitzman, and Coach, attributed much of its success to s For more expert insight and the latest market action, click to watch this full episode of Market Domination.
Video Transcript I am locked and loaded on coach and Kate Spade owner Tapestry after an earnings made Indecent for commentary, uh decent quarter for tapestry Julie. You know, I am very excited about the new quilted tabby bag. Uh I encourage everybody to go to the site and check that one out.
It's like a little, it's like a little shoulder baggy thing, but it's like quilted in certain spots, only $450 you know, that's really good also, uh some new blue slides for men. So it has like the coach, that whole thing, that whole thing holds your feet and like it's blue on the bottom. Very exciting.
But overall, I think for this stock to work even higher and it has been on a nice run. You have to get clarity on that capri holdings deal. Uh And until that gets done, uh where would this next move in? Tapestry is gonna be in question? Ok.
So a couple of things in reaction that you hit me with a lot first things first. Um On a side note, walking around New York City during my commute, anyone wearing a pair of slides looks so uncomfortable and as though they were having trouble walking, the point is not to walk in them. It's, it's the point to get everybody's attention and get your attention so we can talk about people are walking in them and it's not positive attention.
That's the number one thing. Number two tapestry did. Ok, this quarter to your point.
But it wasn't a good quarter. Coach didn't grow revenue wise. Kate Speed fell 6%.
Stuart Weitzman fell 19%. It's just that all of that stuff was not as bad as was expected. Given the sort of broader environment, I think Tapestry has to reach a point where they figure out what they are going to do with it.
Weitzman every quarter, seemingly since this brand was acquired several years ago has not been good, has never seemed to catch its stride, which is strange because the products are high quality. It's just not and never has caught on and then secondarily, look, I, you're, you're right in the slides. I mean, you wear those slides, your feet have to stink.
I mean, they're out, you're walking the city essentially where I was going gross. But you brought me there by the way, it does occur to me that I am even as we speak, wearing coach shoes, not slides but heels, pumps if you will. So just good stuff.
I have like a coach tablet holder. I got it at the outlet. I mean, it's great stuff.
Are you getting that. Uh, I'm not, are you getting the quilted bags? It's not a guy's bag. I mean, I'm not walking around with a shoulder bag.
It's a little, I mean, I'm being told in my ear of a producer, it could be a guy's bag. $450 for a quilted, not this guy's bag, it's not this guy's bag. Yeah.
Ok..
