=Tapestry (TPR) reported earnings on Tue 1 May 2018 (b/o)

Tapestry beats by $0.04, beats on revs; raises bottom end of FY18 EPS guidance; reaffirms FY18 rev guidance; Q3 comps +3%

• Reports Q3 (Mar) earnings of $0.54 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus of $0.50; revenues rose 32.9% year/year to $1.32 bln vs the $1.3 bln Capital IQ Consensus.
• Global comparable store sales rose 3%, including a benefit of approximately 100 basis points driven by an increase in global e-commerce.
• Co issues guidance for FY18, sees EPS of $2.57-2.60 from $2.52-2.60 vs. $2.59 Capital IQ Consensus Estimate; sees FY18 revs of $5.8-5.9 bln vs. $5.86 bln Capital IQ Consensus Estimate.