Why Tapestry Stock Was Up 16.1% in 2020

Shares of Tapestry (NYSE: TPR) rose 16.1% in 2020, but most of those gains occurred in the fourth quarter of the year as the luxury goods retailer saw sales suddenly bound higher.

Demand for high-end handbags, shoes, and accessories took a nose dive earlier in the year as the global pandemic closed retail outlets worldwide. And it was only after governments allowed their economies to begin to reopen that Tapestry saw the first hints of recovery.

Image source: Tapestry.

Source Fool.com