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Tapestry up after raising annual forecasts, share buyback target

By Reuters News22 hours ago Updated

** Shares of Coach handbags maker Tapestry TPR.N up nearly 6% at $132.56 premarket

** Co raises annual revenue and profit forecasts, posts Q1 results beat, helped by strong demand across income cohorts for Coach brand

** TPR also expects to buy back shares worth $1.7 billion in the fiscal year, up $350 million from its prior guidance

** Up to last close, stock had fallen 2% YTD

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