Tapestry (TPR) Stock Pops Ahead of Investor Day, Kim Kardashian Rumors


  • Tapestry (TPR) stock is rising alongside investor day news.
  • That includes the company’s 2025 growth plan.
  • There are also rumors that Kim Kardashian will come to represent Tapestry’s brands.
the coach logo representing TPR stock.

Source: Hi-Point / Shutterstock.com

Tapestry (NYSE:TPR) stock is gaining on Friday as traders react to the company’s latest investor day meeting and recent rumors.

First off, Tapestry’s investor day event has it providing shareholders with an inside look into the company’s growth strategy. A release ahead of the event details Tapestry’s plans to increase business through 2025.

According to Tapestry, the company intends to reach revenue of $8 billion by the time 2025 comes to a close. This has it targeting a three-year compound annual growth rate (CAGR) of between 6% and 7%. The company also expects earnings per share (EPS) above $5 in 2025.

Scott Roe, CFO and COO of Tapestry, said the following about the plans:

“We will continue to be disciplined allocators of capital, with a plan to return $3 billion to shareholders through FY25, supported by our strong free cash flow. Together, we believe this will drive significant total shareholder returns over our planning horizon.”

Kim Kardashian May Help TPR Stock

That’s not the only thing pulling TPR stock in focus today, however. There are also rumors that Kim Kardashian may become the face of Tapestry moving forward. That could bring in more customers associating her with the company’s brands, which include Coach, Kate Spade and Stuart Weitzman.

The finer details of the investor day event aren’t yet available. However, traders will likely learn more as the day progresses. That includes more insight into how Tapestry will reach its growth goals.

TPR stock is up 2% as of Friday morning.

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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2022/09/tapestry-tpr-stock-pops-ahead-of-investor-day-kim-kardashian-rumors/.

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