We recently compiled a list of the Impressive Earnings, Fresh Deals Propel Prices of These 10 Firms. In this article, we are going to take a look at where Tapestry Inc. (NYSE:TPR) stands against the other stocks.
Wall Street’s main indices ended mixed on Thursday, with the Dow Jones the sole decliner, losing 0.28 percent.
In contrast, both the S&P 500 and the Nasdaq Composite registered gains, rising by 0.36 percent and 0.51 percent, respectively.
Amid the earnings season, 10 companies saw significant increases in their valuations, thanks to stronger-than-expected earnings reports. Additionally, several firms enjoyed rallies fueled by newly secured deals.
To come up with Thursday’s biggest advancers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
A close-up of diverse group of people wearing the company’s small leather goods.
Tapestry Inc. (NYSE:TPR)
Tapestry Inc. saw its share prices increase by 12 percent on Thursday to end at $82.2 apiece as investor sentiment was fueled by an optimistic business outlook for 2025.
In a statement, Tapestry said it projects revenues to grow by 3 percent to more than $6.85 billion and earnings per share to jump between 13 to 14 percent to $4.85 to $4.9.
In the fourth quarter of 2024, Tapestry, however, posted a weaker earnings performance, with net income dropping by 3.69 percent to $310.4 million from the $322.3 million reported in the same period last year.
Gross profit increased by 7.38 percent to $1.6 billion from $1.49 billion year-on-year on the back of strong performance from its luxury brand Coach, with a 12.6 percent higher contribution at $697.4 million versus $619.2 million year-on-year.
READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.
This article is originally published at Insider Monkey.