tapestry inc lowered its earnings expectations for fiscal 2022 citing incremental covid19 pressures in china the latest guidance was issued as the company beat analyst expectations for its sales and earnings in the third quarter the new yorkbased company which owns brands including coach and kate spade said it now expects revenue this year to be around 67 billion compared with 675 billion in previous guidance tapestry forecast earnings per share to be around 345 down from 360 to 365 in previous guidance the company estimates a negative impact of 25 to 30 cents due to covid19 related pressures in china and a 17 cents decrease due to current expectations on a us trade preference program otherwise the company said it would have expected its projections to be 25 to 30 cents higher than its prior outlook the company said it now expects to return approximately 19 billion to shareholders in the fiscal year compared with the prior outlook of more than 15 billion according to its outlook the company anticipates repurchasing 16 billion in common stock up from 125 billion in prior guidance tapestrys board also approved a new 15 billion sharerepurchase program that it expects to begin using in the next fiscal year the company said