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Tapestry, Inc. Q1 adjusted earnings Beat Estimates

Tapestry, Inc. (TPR) released earnings for first quarter that decreased from last year.

The company's bottom line came in at $226.9 million, or $0.80 per share. This compares with $231.7 million, or $0.83 per share, in last year's first quarter.

Excluding items, Tapestry, Inc. reported adjusted earnings of $235.1 million or $0.82 per share for the period.

Analysts had expected the company to earn $0.70 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 26.5% to $1.48 billion from $1.17 billion last year.

Tapestry, Inc. earnings at a glance:

-Earnings (Q1): $235.1 Mln. vs. $160.8 Mln. last year.
-EPS (Q1): $0.82 vs. $0.58 last year.
-Analysts Estimate: $0.70
-Revenue (Q1): $1.48 Bln vs. $1.17 Bln last year.

-Guidance:
Full year EPS guidance: $3.45 - $3.50
Full year revenue guidance: $6.6 Bln

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