Tapestry, Inc. (TPR) is a leading New York-based luxury fashion house known for its portfolio of iconic brands including Coach, Kate Spade, and Stuart Weitzman. The company, with a market capitalization of $15.4 billion, designs and sells a wide range of premium lifestyle products, including handbags, footwear, jewelry, apparel, eyewear, fragrances and watches.
Companies valued at $10 billion or more are commonly referred to as “large-cap stocks,” and Tapestry fits right into that category. Tapestry is committed to craftsmanship, innovation and sustainability, delivering stylish and functional products that resonate with modern consumers around the world. The company’s global presence and focus on brand heritage have established it as a major player in the luxury retail industry.
TPR stock just hit a 52-week high of $66.47 in the last session. The luxury goods company has soared 37.4% over the past three months, outpacing the broader CraneShares Global Luxury Index ETF (KLXY)’s 6.3% decline over the same period.
TPR stock has gained 58.3% over the past six months, outpacing KLXY’s 2.7% decline. Additionally, TPR stock has increased 79.1% over the past 52 weeks, significantly outpacing KLXY’s 6.4% decline over the same period.
Since early September, TPR has maintained a position above the 200-day moving average and the 50-day moving average, indicating a bullish trend.
TPR’s strong performance over the past year was underpinned by its successful strategy to expand its consumer base, particularly by attracting younger customers by fostering an emotional connection with the brand.
Nov. 14 (Reuters) – Tapestry shares soar more than 12% to lead S&P 500 gainers after the company announced the cancellation of its $8.5 billion merger plan with Capri Holdings over objections from U.S. antitrust regulators. did.
TPR’s outperformance is even more evident when compared to its rival PVH Corp. (PVH), which is down 12.7% over the past 52 weeks.
Despite TPR’s outperformance over the past year, analysts remain cautiously optimistic about TPR’s outlook. The consensus rating from the 20 analysts covering the stock is a “moderate buy,” and the stock is currently trading above its average price target of $64.11.
On the date of publication, Kritika Sarmah did not have (directly or indirectly) any positions in any securities mentioned in this article. All information and data in this article is for informational purposes only. For more information, please see the Barchart Disclosure Policy here. More news from Barchart
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