Coach parent company Tapestry has seen its fourth quarter net sales reach $1.62 billion (£1.18 billion), marking a 126% per cent increase.
On a 13-week basis, the company’s net sales increased 113% versus prior year and rose one per cent as compared to pre-pandemic levels.
Gross profit for the quarter totaled $1.17 billion (£855 million) on a reported basis, while gross margin was 72.2 per cent compared to prior year reported gross profit of $499 million (£364 million) and gross margin of 69.8 per cent.
For the full year, Tapestry’s net sales amounted to $5.75 billion (£4.20 billion), representing a 16 per cent increase.
