Key Takeaways
- Luxury retailer Tapestry (TPR) reported strong fourth-quarter net sales of $1.72 billion, surpassing analyst estimates, and offered an optimistic 2026 revenue forecast of up to $7.2 billion.
- Intense diplomatic efforts are underway in the Middle East, with Israel's Mossad chief meeting Qatar's Prime Minister for critical talks on a Gaza ceasefire and hostage deal.
- A fire continues on the Marie Maersk container vessel off Liberia's coast, though the crew is confirmed safe and the ship remains stable, with firefighting support being arranged.
- Geopolitical tensions remain high as the EU anticipates adopting its 19th sanctions package against Russia next month, while Russia and Ukraine conducted a fresh prisoner swap.
- India is actively engaging on multiple diplomatic fronts, working to restart border trade with China after a five-year halt and continuing military equipment purchases from the United States.
Luxury fashion house Tapestry (TPR), the parent company of Coach, Kate Spade, and Stuart Weitzman, delivered robust financial results for its fourth quarter. The company announced net sales of $1.72 billion, exceeding the estimated $1.68 billion. Looking ahead, Tapestry projects its 2026 revenue to reach up to $7.2 billion, surpassing the $7.12 billion estimate, and anticipates adjusted earnings per share (EPS) to be between $5.30 and $5.45.
In the shipping sector, the Marie Maersk container vessel is battling an ongoing fire off the coast of Liberia. Maersk (A.P. Møller – Mærsk A/S, listed as MAERSKb in Copenhagen) confirmed that all crew members are safe, the vessel is stable, and all machinery remains operational. Firefighting support is currently being arranged for the 19,076 TEU ultra-large containership, which was en route from Rotterdam to Tanjung Pelepas when smoke was detected from containers on deck.
Diplomatic efforts to de-escalate the conflict in the Middle East are intensifying. Israel's Mossad spy agency director, David Barnea, met with Qatari Prime Minister Mohammed bin Abdul Rahman al-Thani in Doha on Thursday. The discussions focused on a potential Gaza hostage and ceasefire deal, as reported by Axios.
Meanwhile, Russia and Ukraine have conducted a fresh prisoner swap, according to RIA. Russian President Vladimir Putin indicated that new arms agreements with the United States are possible, stating that the U.S. is "seeking agreements acceptable to all" and making "honest efforts to find a solution for the Ukraine crisis," according to IFX. The European Union is also moving forward with its response to the conflict, with a spokesperson for the EU Commission stating they are working diligently to finalize a joint statement and hoping to adopt the 19th Russia sanctions package next month.
India's foreign policy remains active on multiple fronts. The Indian Foreign Ministry confirmed that military equipment purchases from the United States are proceeding as planned, with a U.S. Defense Policy Team expected in Delhi mid-August to discuss a "significant agenda" with the United States. Additionally, India is engaged in talks with China to restart border trade, which has been halted for five years. The ministry also stated that a decision has not yet been made regarding Prime Minister Modi's attendance at the UN General Assembly, and clarified that no talks have taken place concerning an India-Russia-China forum.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.