Sales were marginally up for Coach in the quarter to US$1.15 billion (up 2% on a currency-neutral basis), while Kate Spade was down 6% (5% currency-neutral) to US$280.7 million and Stuart Weitzmann fell by 18% (17% currency-neutral) US$56.1 million.

In the nine months as a whole, Tapestry saw revenue grow by 1% (2% currency-neutral) to US$5.08 billion. Coach had a 4% increase (5% currency-neutral) to US$3.84 billion, while Kate Spade was down 6% (5% currency-neutral) to US$1.04 billion and Stuart Weitzmann declined 13% (12% currency-neutral) US$190.9 million.

Gross profit for the third quarter was flat with a marginal increase at US$1.11 billion, while net income came in at US$139 million, falling by 25.7% year-on-year.

CEO Joanne Crevoiserat said: “Our third quarter earnings results outperformed expectations, reflecting our unwavering commitment to disciplined brand building and operational excellence.

“Our talented global teams continued to advance our long-term initiatives, fueling innovation and consumer connections, while successfully harnessing the power of our customer engagement platform to navigate the dynamic backdrop with focus and agility. Moving forward, we are confident in our vision for the future and the significant runway to drive sustainable growth and shareholder value.”