Hi all, I am puzzling over a US stock, TPR – Tapestry.
It's the large disparity between the gross and net gearing.
If they had plenty of cash in hand I would expect to see negative gearing.
I notice that the gross gearing is the same as the pension, but I don't know what to make of it. Apart from that the company seems to be in fine fettle.
I hope someone can shed some light on this.
Thanks, Nick.
