JD.com, Tapestry and Applied Materials find different paths from growth to profit
JD.com's revenue slipped as operating income turned positive, Coach carried Tapestry while Kate Spade shrank, and Applied Materials lifted its outlook after a record quarter.
Economics & Markets··Midday
JD.com turns a profit as revenue slips
JD.com reported through GlobeNewswire that second-quarter net revenues fell 2.9 per cent to 346.4 billion yuan and that it earned 4.5 billion yuan from operations against a loss a year earlier. Non-GAAP income from operations was 5.5 billion yuan against 0.9 billion yuan a year earlier. Net income attributable to shareholders was 7.1 billion yuan on a GAAP basis and 8.9 billion yuan on a non-GAAP basis. JD Retail earned 13.5 billion yuan from operations at a 4.6 per cent margin, and the loss in the new businesses that house food delivery narrowed. Free cash flow was 31.8 billion yuan. Chief executive Sandy Xu said the quarter marked a clear inflection in the profit trajectory. The statement shows a period in which revenue slipped while operating profit and cash flow strengthened.[1]
Coach grows, Kate Spade shrinks at Tapestry
Tapestry, Inc. reported that full-year fiscal 2026 net sales rose 14 per cent to 8.004 billion dollars, with Coach up 24 per cent and Kate Spade down 10 per cent. Fourth-quarter net sales were 1.876 billion dollars, up 9 per cent, with non-GAAP diluted earnings per share of 1.32 dollars. For the full year, non-GAAP diluted earnings per share were 7.05 dollars and the non-GAAP gross margin was 76.6 per cent. For fiscal 2027 the company guided to revenue between 8.4 billion dollars and 8.5 billion dollars and diluted earnings per share between 7.80 dollars and 7.90 dollars. Growth splits across brands: Coach carries the group while Kate Spade contracts, and management sets a narrow revenue and earnings band for the next year.[2]
Applied Materials' record quarter and lifted outlook
Applied Materials said third-quarter revenue reached 9.115 billion dollars, up 25 per cent from a year earlier, with non-GAAP earnings of 3.50 dollars a share. GAAP earnings were 3.17 dollars a share, up 43 per cent, and non-GAAP earnings rose 41 per cent. The non-GAAP gross margin was 50.4 per cent and the non-GAAP operating margin 34.0 per cent. Semiconductor Systems brought in 7.040 billion dollars, Applied Global Services 1.781 billion dollars and the display unit 294 million dollars. Fourth-quarter revenue is guided to 10.25 billion dollars, plus or minus 500 million dollars, and non-GAAP earnings to 4.02 dollars a share, plus or minus 0.20 dollars. Read together, the three statements take different paths: JD.com turns operating income positive as revenue slips, Tapestry leans brand growth on Coach, and Applied Materials lifts the next-quarter outlook after a record print. The sources claim no shared sector cycle; each sets its own revenue, margin and guidance lines.[3], [1], [2]
