Inflation Isn't Slowing Down This Undervalued Luxury Stock
While some investors may not be familiar with the name Tapestry (NYSE: TPR), it is the parent company of three brands in the "affordable luxury" segment: Coach, Kate Spade, and Stuart Weitzman. Coach is by far the largest of the three in terms of sales, making up 75% of the company's 2021 fiscal-year revenue.
Tapestry has been growing sales year over year in a challenging environment as it battles inflation concerns, supply chain challenges, and China's COVID lockdowns. In fact, the company grew revenue across all three of its brands by double digits in the most recent quarter despite these challenges. But these headwinds have still conspired to push the stock down 30% from its 52-week high and 23% year to date. However, looking past these challenges, Tapestry is positioning itself well over the long run and deserves more credit based on how it has navigated through the challenges so far.
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Source Fool.com
