Tapestry Inc Stock Price, News & Analysis

Tapestry, Inc. (NYSE: TPR) reported robust fourth quarter results, with GAAP EPS of $0.75, an 8% increase year-over-year, and non-GAAP EPS of $0.78, up 20%. Annual sales reached a record $6.7 billion, marking over 15% growth. Digital revenue soared to $2 billion, a 25% year-over-year increase. The Board approved a 20% dividend increase, raising the annual rate to $1.20 per share. Looking ahead, Tapestry expects fiscal 2023 revenue between $6.9 billion, reflecting 3-4% growth, and forecasts EPS of $3.80 to $3.90, representing double-digit growth.

Tapestry, Inc. (NYSE: TPR) announced the retirement of Chief Operations Officer Tom Glaser, effective October 1. In line with succession planning, Scott Roe, the current Chief Financial Officer, will expand his role to include COO responsibilities. Roe will oversee operations, supply chain, and IT while continuing as CFO. CEO Joanne Crevoiserat expressed gratitude for Glaser's contributions and confidence in Roe's leadership as the company maintains its Fiscal 2022 outlook. Tapestry plans to report its fourth-quarter results on August 18 and host an Investor Day on September 9, 2022.

Tapestry, Inc. (NYSE: TPR) will discuss its fiscal 2022 fourth quarter and year-end results on August 18, 2022, at 8:00 a.m. (ET). The results will be shared through a press release that morning. Interested parties can join the conference call by dialing 1-866-847-4217 or 1-203-518-9845 with Conference ID 4973027, or they can listen via a live audio webcast at www.tapestry.com/investors. A replay will be available for five business days after the event.

Coach has unveiled the Coach x Tom Wesselmann collection, featuring a global campaign starring Hari Nef, Kai-Isaiah Jamal, and Manami Kinoshita, photographed by Juergen Teller. This collection incorporates Wesselmann’s iconic artworks into signature Coach items, celebrating American heritage and pop culture. It highlights colorful motifs like lips and flowers on various product materials. The collection launches on July 29 and includes interactive digital experiences and TikTok content. Coach is a Tapestry brand, listed on the NYSE under the ticker TPR.

Tapestry, Inc. (NYSE: TPR), the parent company of luxury brands such as Coach and Kate Spade, will host an Investor Day on September 9, 2022. Set to occur at its New York City headquarters from 8:30 a.m. to 12:00 p.m. ET, the event aims to discuss the company's long-term strategic goals and financial outlook. Presentations will be led by CEO Joanne Crevoiserat and CFO Scott Roe. Attendance is by invitation only, but a live video webcast will be available on the company's Investor Relations website.

Tapestry, Inc. (NYSE: TPR) reported a 13% revenue growth in Q3 2022, totaling $1.44 billion, driven by strong sales in North America. The company achieved a GAAP EPS of $0.46 and non-GAAP EPS of $0.51, surpassing expectations. Tapestry plans to return approximately $1.9 billion to shareholders, including a new $1.5 billion share buyback program. Despite challenges in China due to Covid, digital sales rose over 20%. The company forecasts a record revenue of $6.7 billion for the fiscal year, reflecting high-teens growth.

Tapestry, Inc. (NYSE: TPR) will announce its fiscal 2022 third quarter results on May 12, 2022, at 8:00 a.m. ET, followed by a conference call. Investors can join the call by dialing 1-866-847-4217, with Conference ID 2898477. An audio webcast will also be available on the company's investor relations website. Tapestry is known for its brands, including Coach, kate spade new york, and Stuart Weitzman, focusing on innovation and sustainability.

Tapestry, Inc. (NYSE: TPR) announced the appointment of David L. Casey as Chief Inclusion and Social Impact Officer, effective May 16, 2022. This newly created role aims to enhance Tapestry's Equity, Inclusion, and Diversity strategy while overseeing social impact efforts globally. Mr. Casey joins from CVS Health, bringing over 20 years of experience in strategic diversity management. Tapestry emphasizes building an inclusive culture and has tied 10% of leadership compensation to EID goals. The company has gained recognition as a "Best Employer for Diversity" for five consecutive years.

Tapestry, Inc. (NYSE: TPR) has announced a partnership with the World Wildlife Fund (WWF) through a $3 million grant from the Tapestry Foundation. This initiative aims to enhance the traceability of leather sourced from Brazil, targeting deforestation linked to cattle farming. The program will also support reforestation efforts in vulnerable areas. CEO Joanne Crevoiserat emphasized Tapestry's commitment to sustainability and collaboration with other industries for environmental solutions.