Recasts headline and paragraph 1 after shares reverse course, adds details on Coach and Kate Spade revenue in paragraph 2, analyst comment in paragraph 4

By Anuja Bharat Mistry

May 7 (Reuters) - Tapestry TPR.N said on Thursday it expects subdued revenue growth in the current quarter and margin pressure across its brands, adding to concerns around weak luxury demand and sending the Coach parent's shares down about 11%.

The company forecast low-teens revenue growth at Coach for the fourth quarter, and a high-single-digit decline at Kate Spade, with higher marketing spend, which is expected to have a negative impact on the operating margin.

In comparison, third-quarter revenue at Coach jumped about 31%, while Kate Spade saw a 10% decline on a reported basis.

"The expected deceleration in growth for the high-performing Coach brand is a cause for concern, and there is still not much positive news on Kate Spade's turnaround efforts," said Sky Canaves, analyst at eMarketer.

Luxury brands worldwide have taken a hit in Dubai and Abu Dhabi due to the Iran conflict. Recently, Hermes HRMS.PA, Kering PRTP.PA and LVMH LVMH.PA reported weak demand in the Middle East and Europe.

Tapestry, on the other hand, said it has not been affected by the ongoing conflict and raised its annual forecasts for a third time, citing resilient demand from younger shoppers, which had sent its shares up 4% in premarket trading before retreating.

Investments in its Tabby handbags and other fashion-led innovations have driven demand steadily higher for the company, which reported third-quarter overall sales growth of 19% on a constant currency basis.

The consumer continues to be resilient and respond to our brands, CFO Scott Roe told Reuters.

Tapestry said it expects earnings per share of $6.95, above its previous range of $6.40 to $6.45.

Its quarterly revenue of $1.92 billion beat estimates of $1.79 billion, while adjusted profit of $1.66 per share topped expectations of $1.30, according to data compiled by LSEG.