Tapestry, Inc. TPR is likely to post deterioration in the top and bottom line when it reports fourth-quarter fiscal 2020 numbers on Aug 13, before market open. The Zacks Consensus Estimate for fourth-quarter loss has widened by a cent in the past seven days to 49 cents per share. This suggests deterioration from earnings of 61 cents registered in the year-ago quarter. Notably, this luxury accessories and lifestyle retailer has a trailing four-quarter negative earnings surprise of 12.1%, on average.
The consensus estimate for quarterly revenues is pegged at $691.2 million, which suggests a decline of 54.3% from the prior-year quarter’s tally.
Factors to Note
Due to the coronavirus outbreak, Tapestry had temporarily closed stores in several regions like North America, Europe and Asia among others. While the company has been reopening stores in a phased manner as coronavirus-induced restrictions are being lifted, the temporary closures at some point in