The retailer lowered its annual revenue guidance for the at-home fitness system.
The formula includes a return to occasion wear, a growing e-commerce business and higher prices.
Chairman and CEO Morris Goldfarb said the company will continue to raise prices to match inflationary…
But some investors remain concerned over supply chain woes.
The retailer adjusted its full-year 2021 guidance as a result.
The retailer expects to meet its operating-income target two years ahead of schedule.
Victoria’s Secret Anticipates $100 Million in Supply Chain Disruptions, but Investors Don’t Seem to Mind
Shares closed up 14.65 percent Thursday to $57.91 apiece.
The Wisconsin-based retailer raises its full-year guidance ahead of the holidays.
The retailer estimates supply chain disruptions of $100 million in the fourth quarter.
But company shares fell because of continued supply chain woes and inflationary pressures.
But headwinds, including continued supply chain issues and inflationary pressures, caused the stock to fall.
Tapestry's strength lies in North America, China and online.
The company reported major sales gains from the prior-year period, and throughout the calendar year.
The Tel Aviv, Israel-based firm continues to strengthen its presence in the global innerwear market.
But investors weren't satisfied. Shares fell 2.63 percent to $17.80 apiece Thursday.