Tapestry CEO Joanne Crevoiserat said that 25 million women in the markets the company serves will turn 18 each year for the next decade, calling it a tremendous opportunity for the Coach and Kate Spade owner. She noted that a Gen Z consumer gives the brand about 60 seconds upon entering a store to decide if it is for them. Tapestry's recent fiscal third quarter net sales rose 21% to $1.9 billion, driven by a 31% surge in Coach revenue to $1.7 billion, while adjusted earnings per share climbed 62% to $1.66. The company raised its full-year outlook and its stock is up 78% over the past year.
Tapestry IncCEO highlights 25 million women turning 18 annually as a growth opportunity for Coach and Kate Spade, and Q3 results show strong demand with 31% Coach revenue surge.
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