07:18 AM EDT, 08/15/2024 (MT Newswires) -- Tapestry (TPR) reported fiscal Q4 non-GAAP earnings Thursday of $0.92 per diluted share, down from $0.95 a year earlier.

Analysts polled by Capital IQ expected $0.88.

Net sales for the quarter ended June 29, was $1.59 billion, down from $1.62 billion a year earlier.

Analysts surveyed by Capital IQ expected $1.57 billion.

The company said it expects fiscal 2025 non-GAAP earnings of $4.45 to $4.50 per diluted share. Analysts surveyed by Capital IQ expect $4.49. Revenue for the current fiscal year is projected to be $6.70 billion, the company said. Analysts polled by Capital IQ expect $6.78 billion.

Additionally, the company increased its quarterly dividend to $0.35 per share, up from $0.3375 per share in the prior quarter. The higher dividend is payable Sept. 23 to shareholders of record on Sept. 6.

Tapestry also said it is working "expeditiously" to complete the Capri Holdings acquisition this year.

Shares of the company were up more than 8% in recent Thursday premarket activity.

Price: 41.16, Change: +3.20, Percent Change: +8.43