Coach Growth Masks Kate Spade Decline at Tapestry

Tapestry's first fiscal quarter showed a split verdict inside the same house of brands. Coach sales jumped 16% to $1.66 billion, while Kate Spade sales fell 10% to $233 million, even as overall net sales rose 11% to $1.89 billion. Non-GAAP diluted EPS climbed 32% to $1.82, and Tapestry ($TPR) raised its full-year revenue guidance to $8.5-$8.6 billion.