May 9, 2019 / 10:55 AM / in a month

REFILE-Tapestry quarterly sales rise, announces $1 bln buyback

(Corrects spelling to “Spade” in first paragraph)

May 9 (Reuters) - Tapestry Inc reported a rise in third-quarter sales on strong demand for its Coach and Kate Spade handbags, and announced a $1 billion share buyback program.

Same-store sales at Kate Spade fell 3 percent, but fared better than the analysts’ estimate of a 4.04 percent decline, according to IBES data from Refinitiv estimates.

Net sales rose nearly 1 percent to $1.33 billion from $1.32 billion, a year earlier. (Reporting by Aishwarya Venugopal in Bengaluru Editing by Saumyadeb Chakrabarty)

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