Tapestry reported a 19% increase in revenues for its third quarter, reaching $1.9 billion on a constant currency basis. The growth was led by strong performance from the Coach brand and sales in Greater China.
The results, for the quarter ended March 28, cover the parent company of Coach and Kate Spade. On a pro forma basis, group sales grew 23% year on year, with gross profit rising 22% and the gross margin improving to 76.9% from 76.1% a year earlier. The company acquired 2.4 million new customers globally, 35% of whom were Gen Z.
