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BRIEF-Tapestry reports Q1 earnings per share $0.42
November 7, 2017 / 12:38 PM / a month ago

BRIEF-Tapestry reports Q1 earnings per share $0.42

Nov 7 (Reuters) - Tapestry Inc

* Tapestry, Inc. reports fiscal 2018 first quarter results

* Q1 earnings per share $0.42

* Q1 same store sales fell 2 percent

* Q1 earnings per share view $0.36 -- Thomson Reuters I/B/E/S

* Sees FY 2018 revenue up about 30 percent

* Sees FY 2018 revenue $5.8 billion to $5.9 billion

* Q1 sales $1.29 billion versus I/B/E/S view $1.31 billion

* Q1 non-GAAP earnings per share $0.42

* Tapestry Inc - ‍Maintains fiscal 2018 guidance​

* Tapestry Inc - ‍Expect to achieve run-rate synergies of approximately $100 to $115 million in fiscal 2019 versus previous guidance of $50 million​

* FY2018 earnings per share view $2.36, revenue view $5.86 billion -- Thomson Reuters I/B/E/S

* Tapestry -‍ Coach comparable store sales impacted by both expected calendar shifts & inventory challenges, unanticipated natural disasters​ in quarter

* Tapestry Inc - ‍Recorded charges of approximately $188 million, which relate to purchase and integration of Kate Spade​, in quarter on a reported basis

* Tapestry Inc - Qtrly‍​ global comparable store sales declined 2% for Coach

* Tapestry Inc - ‍Run-rate synergies of about $100 to $115 million in fiscal 2019 expected from Kate Spade acquisition​ Source text for Eikon: Further company coverage:

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