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Coach parent Tapestry posts loss on Kate Spade acquisition charges
2017年11月7日 / 中午11点58分 / 12 天前

Coach parent Tapestry posts loss on Kate Spade acquisition charges

Nov 7 (Reuters) - Tapestry Inc, formerly Coach, reported a net loss for its first quarter as the handbag maker took a $188 million charge related to its acquisition of Kate Spade.

The company posted net loss of $17.7 million, or 6 cents per share, in the quarter ended Sept. 30, compared with a profit of $117.4 million, or 42 cents per share, a year earlier.

Tapestry, which houses the Coach, Kate Spade and Stuart Weitzman brands, reported a 24.2 percent rise in net revenue to $1.29 billion. (Reporting by Gayathree Ganesan in Bengaluru; Editing by Saumyadeb Chakrabarty)

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