Tapestry, a high-end fashion brand (NYSE:), has seen significant growth this year. Its shares have surged more than 8% in price on the company’s most recent reported results, which outpaced Wall Street’s expectations. The company also raised its 2022 fiscal sales forecast. Can the stock continue to rally despite supply chain problems and operational difficulties? Keep reading. Tapestry, Inc., New York City’s fashion retailer, offers luxury accessories and lifestyle products. Tapestry operates three divisions: Coach Kate Spade and Stuart Weitzman. TPR shares have gained 58.8% in price over the past year and 45.4% year-to-date to close yesterday’s trading session at $45.84.

Although there were challenges in the supply chain and other restrictions created by COVID-19, TRP reported strong customer engagement and demand. TRP saw an acceleration in revenue trends, mainly due to North America, China and the company’s digital platform. “We’re taking deliberate steps to accelerate inventory growth, and we feel comfortable in our inventory positioning to meet demand,” said TPR’s Chief financial officer Scott Roe.

The high-end retailer’s shares shot up more than 8% on November 11, after the company reported better-than-expected fiscal first-quarter earnings and revenues and raised its fiscal 2022 sales outlook. Its sales for the quarter came in at $1.48 billion, beating analysts’ expectations by 3.1%. TPR’s quarterly earnings were $0.82 per share, compared with the $0.70 consensus estimate. TPR also raised its fiscal outlook. TPR currently expects earnings to range from $3.45-$3.50 and its sales to reach $6.6 million. TPR has also authorized an $1 billion incremental share repurchase plan, which doubles its prior authorization of $500 million. The decision demonstrates the company’s confidence in the strength of its underlying business and its ability to drive growth.

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