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Tapestry raised its annual earnings targets on Thursday for a second time after strong demand for its Tabby handbags helped the affordable luxury retailer comfortably beat holiday-quarter estimates.
Shares of the company rose about 5 percent before the bell.
Affluent Gen Z customers have been snapping up Tabby handbags, priced between $295 and $725, boosting sales for the company’s Coach brand when rivals such as Michael Kors have struggled to attract discerning shoppers.
Coach revenue…
