© Reuters. FILE PHOTO: A handbag is seen in a Kate Spade store, owned by Tapestry, Inc., in Manhattan, New York, U.S., November 19, 2021. REUTERS/Andrew Kelly/File Photo
(Reuters) – Luxury group Tapestry (NYSE:) Inc raised its annual profit forecast on Thursday, helped by resilient demand and its strategy to largely use company-owned stores and its website to sell Coach and Kate Spade bags.
The company said it now expected fiscal 2023 earnings of $3.70 to $3.75 per share, compared with its prior estimate of $3.60 to $3.70.
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