Salem Radio Network News Monday, October 3, 2022

Business

Tapestry misses quarterly sales estimates on hit from China

(Reuters) – Tapestry fell short of quarterly revenue estimates on Thursday, as a fresh round of lockdowns in China hurt sales of its designer handbags and apparel in the region.

The company reported total revenue of $1.62 billion for the fourth quarter ended July 2, missing analysts’ average estimate of $1.64 billion, according to IBES data from Refinitiv.

(Reporting by Mehr Bedi in Bengaluru; Editing by Maju Samuel)

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