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Coach owner Tapestry quarterly sales beats estimates

Aug 19 (Reuters) - Coach handbag maker Tapestry Inc beat quarterly sales estimates on Thursday, as a vaccine-aided reopening of economies boosted demand for designer apparel and purses.

Net sales rose to $1.62 billion in the fourth quarter from $714.8 million a year earlier, topping analysts’ average estimate of $1.56 billion, according to IBES data from Refinitiv. (Reporting by Mehr Bedi in Bengaluru; Editing by Vinay Dwivedi)

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