Coach owner Tapestry said Thursday that its fiscal third-quarter sales in North America returned to pre-pandemic levels, as demand for luxury goods rebounds from 2020 lows.
Chief Executive Joanne Crevoiserat said the latest results “significantly outpaced expectations,” boosted by Tapestry’s online business and heightened demand for its purses, shoes and other accessories in Asia.
Its overall revenue remains below 2019 levels, however. And according to BMO Capital Markets analyst Simeon Siegel, that puts Tapestry below a median of retailers who have reported their quarterly results, thus far.
www.cnbc.com
