Coach owner Tapestry’s sales top estimates as luxury demand rebounds

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(Reuters) – Coach handbag maker Tapestry (NYSE:TPR) Inc reported quarterly sales on Thursday that beat analysts’ estimates, helped by a strong rebound in demand for luxury goods.

Net sales rose to $1.27 billion in the third quarter ended March 27, from $1.07 billion a year earlier, beating analysts’ estimates of $1.22 billion, according to IBES data from Refinitiv.