Tapestry, Capri may see sales boost from fewer handbag promotions - Barclays

TPR Co

18/04/2022 12:33

** Barclays says handbag makers Tapestry Inc  TPR.N  and
Capri Holdings  CPRI.N  likely to see a sales boost from fewer
promotions and a robust global luxury goods market 
    ** Brokerage expects both TPR, which owns Coach, and CPRI,
which owns Michael Kors, to report better-than-expected gross
margin for March quarter, given price increases and demand
continuing to outstrip supply    
    ** Raises price target on TPR to $53 from $51, and to $74
from $72 on CPRI
    ** TPR has a median PT of $53, while CPRI's median PT is
$81.50; Both stocks have an avg "buy" rating on Wall Street -
Refinitiv data
    ** TPR down 27.5% in the last 12 months, while CPRI has
fallen 5.2% 

 (Reporting by Uday Sampath in Bengaluru)
 ((UdaySampath.Kumar@thomsonreuters.com; Twitter: https://twitter.com/sampath_uday
  ;))