86
Fashion Jobs
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Permanent · HO CHI MINH CITY
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Senior Director Product Creation Ftw
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L'OREAL GROUP
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JO MALONE LONDON
Education Manager, Jml/lm
Permanent · HO CHI MINH CITY
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Senior HR Operations Executive/ Assistant Manager
Permanent · HO CHI MINH CITY
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Key Account Manager (Franchise)
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Commercial, Adigolf, Vietnam 1
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager 1 (Franchise)
Permanent · HO CHI MINH CITY
COLUMBIA
lo Costing & Engineering Manager
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Category Manager - Cpd
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Business Planning Manager - Cpd
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager Product Creation (Sportwear)
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Product Manager - Shu Uemura
Permanent · HO CHI MINH CITY
ADIDAS
Manager, Quality Product Integrity
Permanent · HO CHI MINH CITY
TAPESTRY
Manager, Manufacturing Engineer
Permanent · HO CHI MINH CITY
SPECIALIZED
Painting Quality Engineer - Bình Dương, Vietnam
Permanent ·
ON RUNNING
Social Compliance Specialist - Hcm Based
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Sourcing Operations
Permanent · HO CHI MINH CITY
WILLIAMS SONOMA
Wood Sustainability Specialist - (Global)
Permanent · THUẬN AN
PUMA
Manager Quality Apparel & Accessories
Permanent · HO CHI MINH CITY
PUMA
Senior Executive, Finance
Permanent · HO CHI MINH CITY
PUMA
Head of Quality Footwear
Permanent · HO CHI MINH CITY
By
Reuters
Published
Aug 19, 2021
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Coach owner Tapestry forecasts higher revenue, profit as luxury demand returns

By
Reuters
Published
Aug 19, 2021

Coach and Kate Spade owner Tapestry Inc forecast annual revenue and profit above estimates after posting better-than-expected results on Thursday, expecting vaccine-aided reopening of economies to boost demand for designer apparel and bags.


Coach



Resumption of social events and growing vaccination rates are expected to aid sales of handbags, shoes and clothes this year, bolstering the rebound seen in demand for luxury goods.

Other high-end labels including Ralph Lauren Corp, Michael Kors-owner Capri Holdings Ltd, LVMH and Gucci parent Kering have also posted strong results in recent weeks.

Increasing freight costs due to port congestions and global supply chain disruptions, however, have pressurised industries across sectors, including luxury companies.

“Today, we find ourselves in a dynamic where the consumer demand backdrop is strong, while supply chain remains challenging. So I want to emphasise the underlying strength ... of our business and separate that from the uncertainty in the macro environment,” Chief Financial Officer Scott Roe said in a post-earnings call.

Tapestry forecast full-year revenue of about $6.4 billion, edging past market estimates of $6.08 billion.

It also expects annual profit per share in the range of $3.30 to $3.35, higher than analysts’ average estimate of $3.19 per share.

The luxury brand said it plans to return more than $750 million to shareholders in fiscal year 2022 by reinstating its dividend and share buyback program.

Net sales rose 126% to $1.62 billion in the fourth quarter ending July 3, topping analysts’ average estimate of $1.56 billion, according to IBES data from Refinitiv.

Excluding one-off items, the company reported a profit of 74 cents per share, compared with analysts’ expectations of a profit of 69 cents per share.

The New York fashion house’s shares, which have risen about 33% so far this year, fell 1.4% in morning trade amid a broader market decline.

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