Salem Radio Network News Saturday, December 4, 2021

Business

Coach owner Tapestry raises annual revenue forecast

(Reuters) – Coach handbag maker Tapestry Inc raised its annual sales forecast on Thursday, boosted by a strong rebound in demand for luxury goods even as global supply chain bottlenecks threaten to create a shortage of products.

The company, which also owns Kate Spade, forecast 2022 revenue of nearly $6.6 billion, compared with a previous forecast of about $6.4 billion.

(Reporting by Aditi Sebastian in Bengaluru; Editing by Shinjini Ganguli)

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