Tapestry, inc. provides earnings guidance for second quarter and full year 2020

Tapestry, inc. provided earnings guidance for second quarter and year 2020. the company expects revenues for fiscal 2020 to increase at a low-single-digit rate from fiscal 2019. in addition, the company projects earnings per diluted share to be approximately even with prior year.starting with the second quarter, the company is projecting revenue to be similar to prior year. this guidance incorporates continued low single-digit comp growth at coach. operating income is expected to decline in the quarter due to a contraction in gross margin as well as mid-single-digit increase in sg&a growth, including the shift in timing of expenses from the first quarter. the company expects earnings per share to be $0.95 to $1 in second quarter.
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