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Tapestry soars as fashion house stitches together an earnings beat and raises guidance

The Coach and Michael Kors parent said it’s seeing growth across all regions.

5/8/25 11:07AM

Tapestry shares rose after the fashion conglomerate posted knockout Q3 results. Adjusted earnings per share came in at $0.95, up 60% from a year ago and well above FactSet estimates of $0.88. Revenue reached $1.58 billion, also topping Wall Street expectations.

The quarter was powered by a standout performance from Coach, Tapestry’s legacy leather handbag line and its biggest revenue driver. Coach has been on a hot streak, fueled by bold rebranding and buzzy, Gen Z-friendly campaigns that have helped revive the brand’s cool factor.

Looking ahead, Tapestry raised its full-year revenue outlook to $6.95 billion, up 4% from the prior year and ahead of the 3% growth it previously forecast. The raised outlook also bakes in recent tariffs.

Tapestry shares are up double digits so far this year.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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