Are Better Days Ahead for Tapestry?

Tapestry (NYSE: TPR), the parent company of Coach, Kate Spade, and Stuart Weitzman, has struggled as soft sales growth, contracting margins, and tariff headwinds caused its stock to tumble nearly 40% over the past 12 months. However, Tapestry's stock recently popped after it released its first-quarter earnings report, indicating that better days might be ahead for this unloved luxury stock.

Tapestry's revenue fell 2% annually (1% in constant currency) to $1.36 billion during the first quarter, missing estimates by $20 million. Its adjusted net income fell 20% to $114 million, or $0.40 per share, which still beat expectations by three cents.

Image source: Coach.

Source Fool.com