Tapestry Q1 Earnings: Despite Beating Estimates, Shares Down 11.3% Amid Rising Tariffs and Brand Concentration Concerns

Tapestry, Inc. reported Q1 earnings with sales of $1.70 billion and net income of $274.8 million, both up significantly from last year. Despite beating estimates and raising its revenue outlook to $7.3 billion, the stock is down 11.3% due to investor concerns over sustaining customer growth and maintaining operating margins amidst cost pressures.