Tapestry's Q3 sales rise, announces 1 billion dollars share buyback

For its third quarter to March 30, 2019, Tapestry, Inc. reported net sales of 1.33 billion dollars, an increase of 1 percent on a reported basis and 2 percent in constant currency. The company’s gross profit reached 916 million dollars on a reported basis, while gross margin for the quarter was 68.8 percent compared to 908 million dollars and 68.6 percent, respectively, in the prior year. The company also announced the repurchase of up to 1 billion dollars of its outstanding common stock.