Tapestry Q4 revenues increase 31 percent

Business

American luxury and lifestyle company Tapestry said on Tuesday its Q4 revenue for 2018 rose 31 percent. Profit increased by 39.5 percent from the same period last year. For the full year, revenues also increased 31 percent to 5,880 million dollars, while net income 397.5 million dollars compared to 591 million dollars last year.

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The company’s sales in Q4 2018 were 1,483.7 million US Dollars, up from 1,133.8 million US Dollars a year earlier. Net income for the quarter rose to 211.7 million US Dollars.

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Tapestry Inc was founded in 1941 by Lillian Cahn and is based in New York, United States. Tapestry is a house of luxury lifestyle brands that has Coach, Kate Spade New York, and Stuart Weitzman brands under its portfolio.

Offering luxury accessories and clothing, the New York-listed company has about 5,500 employees worldwide and operates more than 340 stores.

For more recent news on the business, collections and executive changes of Tapestry Inc, click here.

Picture credit:Coach via Tapestry