Tapestry Inc. ($TPR) Stock Forecast: Up 6.9% Today

What is Tapestry Inc.?

Tapestry (TPR) is a leading New York-based house of modern luxury accessories and lifestyle brands. The company's stock had a strong bullish movement today amidst recent market developments.

Why is Tapestry Inc. going up?

TPR stock is up 6.9% on Nov 22, 2024 14:41

• Tapestry's bullish movement today could be attributed to the termination of its merger agreement with Capri Holdings Limited, which was perceived positively by analysts as it allows Tapestry to focus on its own growth strategies without the uncertainties associated with the merger.
• The decision to end the merger deal with Capri Holdings could indicate that Tapestry is confident in its ability to drive solid growth independently, which might have sparked investor optimism and led to the bullish movement in the stock.
• By redirecting its efforts towards expanding its business and enhancing shareholder value, Tapestry is positioning itself for a more focused and potentially successful future, which investors seem to view favorably based on today's market performance.

TPR Price Chart

TPR Technical Analysis

TPR News

Are Retail-Wholesale Stocks Lagging DICK'S Sporting Goods ( DKS ) This Year?

Here is how Dick's Sporting Goods (DKS) and Tapestry (TPR) have performed compared to their sector so far this year.

https://www.zacks.com/stock/news/2372138/are-retail-wholesale-stocks-lagging-dicks-sporting-goods-dks-this-year

Tapestry Poised For Solid Growth After Capri Merger Termination, Analysts Cite Struggles And Missteps At Capri - Tapestry ( NYSE:TPR ) , Capri Holdings ( NYSE:CPRI )

On Thursday, Tapestry, Inc. TPR announced the termination of its merger agreement with Capri Holdings Limited CPRI, citing uncertainty in the legal process.

https://www.benzinga.com/24/11/42016383/tapestry-poised-for-solid-growth-after-capri-merger-termination-analysts-cite-struggles-and-missteps-at-capri

Tapestry Confirms End of Merger Deal With Capri Holdings

TPR pulls out of the merger with Capri, redirecting efforts toward expanding its business and enhancing shareholder value.

https://www.zacks.com/stock/news/2371129/tapestry-confirms-end-of-merger-deal-with-capri-holdings

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Tapestry Inc. Price History

22.10.2024 - TPR Stock was up 6.9%

• Tapestry's bullish movement today could be attributed to the termination of its merger agreement with Capri Holdings Limited, which was perceived positively by analysts as it allows Tapestry to focus on its own growth strategies without the uncertainties associated with the merger.
• The decision to end the merger deal with Capri Holdings could indicate that Tapestry is confident in its ability to drive solid growth independently, which might have sparked investor optimism and led to the bullish movement in the stock.
• By redirecting its efforts towards expanding its business and enhancing shareholder value, Tapestry is positioning itself for a more focused and potentially successful future, which investors seem to view favorably based on today's market performance.

25.09.2024 - TPR Stock was up 14.6%

• TPR stock experienced a strong bullish movement today.
• The judge's decision to block the merger between Capri Holdings and Tapestry Inc might have positively impacted TPR's stock as investors see Tapestry's independence as a strategic advantage.
• The anticipation of Tapestry beating earnings estimates in the upcoming report could have also contributed to the bullish movement, reflecting investor confidence in the company's financial performance.
• Overall, the bullish trend in TPR's stock today could be attributed to both the positive legal development and optimistic market expectations regarding the company's financial results.

25.09.2024 - TPR Stock was up 15.2%

• TPR stock showed significant gains today, defying concerns related to its planned merger with Capri Holdings.
• Following a court ruling that initially impacted Capri Holdings' stock (NYSE: CPRI), Tapestry Inc. managed to rally, displaying resilience under pressure.
• Market optimism about Tapestry Inc.'s upcoming earnings report, with expectations of exceeding estimates, likely contributed to the positive market performance of the stock.

25.09.2024 - TPR Stock was up 13.4%

• TPR stock surged due to positive market sentiment and potential upcoming earnings beat.
• The blockage of Capri Holdings' acquisition by Tapestry might have initially caused some uncertainty and led to a brief dip in the stock price.
• Investors seem optimistic about TPR's future performance, disregarding the temporary setback caused by the failed merger.
• Overall, TPR's bullish movement today reflects investor confidence in the company's ability to deliver strong financial results.

14.10.2024 - TPR Stock was up 8.6%

• TPR stock saw a significant bullish trend today.
• The cancellation of the $8.5 billion merger agreement with Capri Holdings (NYSE: CPRI) potentially alleviated investor uncertainty, resulting in a positive market sentiment.
• Tapestry's strong Q1 earnings performance, expansion of gross margin, and increased fiscal 2025 forecast likely boosted investor confidence and attracted new buyers, particularly from the Gen Z and Millennial demographics.
• The robust sales results, outperformance in earnings, and enhanced guidance for Q3 further strengthened Tapestry's market position, propelling its stock price upwards.

07.10.2024 - TPR Stock was up 5.1%

• TPR stock experienced a bullish movement today following the release of its Q1 earnings report.
• The company beat both earnings and revenue estimates for the quarter, indicating strong financial performance.
• Analyst projections for key metrics also painted a positive picture for TPR, suggesting a favorable outlook for the business moving forward.
• The market responded positively to the earnings beat and optimistic projections, driving the stock price higher as investors gained confidence in Tapestry's performance and growth potential.

04.03.2024 - TPR Stock was down 5.3%

• Tapestry's stock declined, possibly in response to a trademark infringement lawsuit initiated by Coach against The Gap, Inc. This legal conflict could have raised investor concerns regarding brand integrity and legal expenses.
• The lawsuit's negative impact outweighed the positive news of Tapestry's Women's History Month celebrations worldwide. Despite efforts to promote inclusivity and empowerment, the legal issue took precedence, impacting the stock performance.
• Investors may have sold Tapestry's shares due to uncertainty surrounding the lawsuit, evaluating potential financial and reputational consequences of the legal dispute.

04.03.2024 - TPR Stock was down 5.4%

• TPR stock exhibited a bearish movement today.
• A trademark infringement lawsuit filed by Coach, a subsidiary of Tapestry, against The Gap, Inc. could have influenced investor sentiment negatively.
• The legal conflict and possible brand confusion resulting from the unauthorized sale of T-shirts bearing the "Coach" logo may have sparked worries about Tapestry's brand integrity and future sales.
• Investors might be exercising caution concerning the lawsuit's resolution and its potential financial impacts on Tapestry, thereby applying downward pressure on the stock price.

09.01.2024 - TPR Stock was up 6.2%

• The bullish movement in TPR stock today can be attributed to several factors:
• 1. Strong holiday quarter: The company's earnings call highlighted a robust performance during the holiday season, indicating increased sales and positive consumer sentiment.
• 2. Resilient Chinese market: Despite the struggles in China's broader economy, consumers in the country continue to splurge on luxury clothes, which bodes well for Tapestry's brands.
• 3. Better-than-expected results: Tapestry's second-quarter results surpassed expectations, with revenue growth of 3% compared to the previous year. This positive outcome likely contributed to the stock's upward movement.
• 4. Improved outlook: The company's raised FY24 EPS outlook further boosted investor confidence, leading to a surge in Tapestry's shares.
• Overall, Tapestry's strong performance, particularly in the holiday quarter, along with positive market conditions in China, and better-than-expected financial results, likely drove the bullish movement in TPR stock today.

02.03.2024 - TPR Stock was down 5.1%

• The bearish movement in Tapestry, Inc. stock today could be attributed to several factors:
• Despite celebrating Women's History Month with events globally, the market may have been expecting more concrete financial updates or strategic announcements from the company.
• The comparison with other retail-wholesale stocks like Texas Roadhouse may have highlighted relative underperformance, leading to investor concerns.
• While Tapestry's stock had shown significant growth in the past six months, the market sentiment today might have been influenced by profit-taking or broader market conditions impacting the retail sector.
• Investors may be looking for more clarity on how Tapestry plans to sustain its growth trajectory through continued brand engagement and retail innovation amidst evolving consumer preferences and market dynamics.

09.04.2024 - TPR Stock was up 3.1%

• Tapestry Inc (TPR) experienced a bullish market movement today.
• Despite a 2% sales decline year-on-year, the company's adjusted EPS of $0.81 beat analyst estimates, showcasing strong performance.
• The increase in gross profit and margin expansion to 74.7% contributed positively to investor sentiment.
• The market reacted positively to the earnings beat, indicating investor confidence in Tapestry's ability to navigate challenges and deliver results.

06.05.2024 - TPR Stock was up 1.5%

• TPR stock experienced a bullish movement today.
• The company's strategic approach to growth and prioritization of digital transformation is likely driving investor confidence.
• Positive developments highlighting Tapestry's improved relative price performance and focus on mental health initiatives may have contributed to the bullish market movement.
• Investors may be optimistic about TPR's potential for rebound and growth, especially in the luxury retail sector, leading to increased buying interest and driving the stock price higher.