Coach-Owner Tapestry Beats Fiscal Q1 Profits Expectations, Ahead of Monumental Capri Holdings Acquisition

Tapestry Inc. surpassed analysts expectations for its Q1 2024 financial results, earning profits of $195 million USD. The figure comes ahead of the conglomerate's acquisition of Capri Holdings, which is expected to complete next year and ultimately place Tapestry at a $12 billion USD valuation.The deal, which was announced in August, will merge Tapestry's Coach, Kate Spade and Stuart Weitzman with Capri's Versace, Jimmy Choo and Michael Kors under one roof, forming the largest American parent co...