Tapestry Annual Sales Hit $8B as Coach Drives Growth
Tapestry reported annual sales of $8 billion, up 17% in constant currencies, excluding the divested Stuart Weitzman business. Net profits were $1.5 billion as the company bought back $1.4 billion of its own stock and increased its dividend by 16%. Fourth-quarter net sales rose 9% to $1.88 billion, or 11% in constant currencies excluding Stuart Weitzman.