On the morning of May 12th, Eastern Standard Time, Tapestry, Inc., the American luxury conglomerate that owns brands like Coach, Kate Spade, and Stuart Weitzman, released its financial results for the third quarter of the fiscal year 2023, ending on April 1st. The company reported a net sales increase of 5% to $1.51 billion (9% on a constant currency basis), surpassing expectations. All brands experienced growth when measured on a constant currency basis. Despite unfavorable currency fluctuations, Tapestry benefited from lower freight costs and outstanding operational performance, res …
