Coach Tapestry, the parent company of the light luxury brand Coach, announced its second quarter results as of December 30, 2017. The financial report pointed out that Coach global sales recovery and holiday holiday product series strong performance, Stuart Weitzman sales increase and Kate Spade contribution, Tapestry, Inc. 2018 fiscal year second quarter net sales of 1 billion 790 million US dollars, the same period in the previous year For $1 billion 320 million, the basis of the financial reporting and the constant exchange rate increased by 35%, of which the net sales of the Coach brand second for the fiscal quarter were $1 billion 230 million and $1 billion 200 million in the same period of the previous year.
According to the financial report report and constant exchange rate calculation, up 2% compared with the same period, the net sales of Kate Spade was $435 million, and the net sales of Stuart Weitzman second financial quarter was $121 million, and 118 million US dollars in the same period of last year, up 2% from the same period.
Tapestry, Inc. chief executive, Victor Luis, pointed out that, in addition to the growth in sales revenue, the company has also promoted a significant increase in revenue by implementing better than expected profit indicators and strictly controlling spending, and said earnings will exceed the annual profit guidelines set by Tapestry at the beginning of the fiscal year. According to Tapestry, the Inc. adjusted 2018 fiscal year guidelines showed that the expected sales revenue increased by about $30% to $5 billion 800 million billion in fiscal year 2017, while revenue is expected to increase by 22%-25% annually.