Welcome to our dedicated page for Tapestry news (Ticker: TPR), a resource for investors and traders seeking the latest updates and insights on Tapestry stock.
Tapestry, Inc. (NYSE: TPR) is frequently in the news as a global house of accessories and lifestyle brands that unites Coach and kate spade new york. News coverage about Tapestry often reflects its brand performance, strategic growth agenda, corporate responsibility initiatives and capital allocation decisions, giving investors and followers insight into how the company manages its portfolio and engages consumers.
Recent announcements highlight Tapestry’s fiscal results, including record quarterly and annual revenue, updates on margins and earnings, and details on its direct-to-consumer performance across regions. These releases often discuss progress on the company’s Amplify growth strategy, which focuses on building emotional connections with consumers, fueling fashion innovation and product excellence, delivering compelling experiences to drive global growth and igniting the power of its people.
Tapestry news also covers major corporate actions and partnerships. Examples include the completion of the sale of the Stuart Weitzman brand to Caleres, the authorization of a multi-billion-dollar share repurchase program, and updates on dividend policies and capital return plans. Corporate responsibility stories feature the publication of Tapestry’s Corporate Responsibility Report, progress toward renewable electricity goals and initiatives to strengthen global leather supply chains.
Another important stream of news involves sustainability and innovation partnerships, such as Tapestry’s long-term agreement with Pivot Energy to purchase Renewable Energy Credits from Illinois community solar projects and its expanded investment and supply agreement with Gen Phoenix for recycled leather fiber materials. Together, these items provide a view into how Tapestry approaches growth, brand-building, sustainability and shareholder value. For ongoing context, readers can follow earnings releases, Investor Day updates, ESG milestones and strategic transactions related to TPR.
Kate Spade has partnered with ThredUp to launch a new resale program named Pre-Loved, set to start in February. This initiative allows customers to purchase secondhand items directly from Kate Spade's website and earn shopping credits by reselling gently used products. The partnership lasts for one year, with a possibility of renewal. Additionally, Kate Spade aims to assist 100,000 women with mental health support by 2025, having already impacted 66,000 women. This program is part of the brand's ongoing commitment to wellness and sustainability.
Tapestry, Inc. (NYSE: TPR) has announced a quarterly cash dividend of $0.30 per common share. This dividend will be paid on March 27, 2023 to shareholders on record as of March 10, 2023. Tapestry encompasses renowned brands such as Coach, Kate Spade, and Stuart Weitzman, emphasizing their commitment to innovation and sustainability. The company aims to enhance the fashion industry and support community empowerment through its diverse brands, which each offer unique products and customer experiences.
Tapestry, Inc. is enhancing workplace diversity through its Employee Business Resource Groups (EBRGs), which facilitate inclusivity and mentorship. At the recent EBRG Fair, Tapestry highlighted the importance of these groups in creating a dynamic work environment. The company has established a global EI&D Champion Network that includes five ERGs and two task forces, fostering engagement among employees. Since launching its first EBRGs in 2020, membership has surged by 63%. These initiatives underscore Tapestry's commitment to building deep connections among employees of varying backgrounds and generations.
Tapestry, Inc. (NYSE: TPR) reported fiscal Q2 2023 revenue of $2.03 billion, down 5% year-over-year, with strong earnings per diluted share at $1.36, outperforming expectations. Operational improvements led to a gross margin increase to 68.6%, despite a 20% revenue decline in Greater China due to COVID-19 impacts. The company remains on track to return $1 billion to shareholders in FY 2023 through share repurchases and increased dividends. Tapestry raised its fiscal year earnings outlook, projecting earnings per diluted share of $3.70 to $3.75, despite anticipated currency headwinds. The company emphasizes continued focus on sustainable growth and customer engagement.
DETROIT, MI / ACCESSWIRE / February 2, 2023 / Tapestry, Inc. has partnered with Pensole Lewis College to launch the Coach Dream It Real x PLC Masterclass. This six-week virtual program aims to support aspiring accessories and footwear designers from underserved communities by offering tuition-free education. The course runs from March 6 to April 14, with final presentations on April 21 at Coach's headquarters. Participants will gain insights into design processes and sustainability, culminating in a Coach Certificate of Completion. This initiative aligns with Coach Foundation's mission to provide scholarships and opportunities, significantly impacting the fashion design landscape.
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Tapestry (NYSE:TPR) emphasizes the importance of mentorship through its Dream It Real program, aiming to empower young people and support diverse talent. The initiative, led by Coach, has engaged over 150,000 youth globally and seeks to provide 5,000 scholarships by 2025. Each year, over 250 Coach employees mentor students, matching them based on shared interests. CEO Joanne C. Crevoiserat shares insights on leveraging strengths and collaboration for success in careers. This program not only fosters professional development but also addresses critical issues like climate change and social justice. Learn more about the initiative here.
Tapestry, Inc. (NYSE: TPR) will hold a conference call on February 9, 2023, at 8:00 a.m. (ET) to discuss its fiscal 2023 second quarter results, which will be released earlier that morning. Investors can participate via telephone by calling 1-866-847-4217 or 1-203-518-9845 with Conference ID 9704378. The audio webcast is accessible through Tapestry's investor page. A telephone replay will be available starting at 12:00 noon (ET) on the same day. Tapestry, which includes brands like Coach and kate spade, focuses on innovation, sustainability, and building a diverse company.
Tapestry has been recognized by Built In as one of the 'Best Places to Work' for the second consecutive year, earning the title of 'Best Large Company' in New York. The company emphasizes a supportive environment that fosters growth, diversity, and employee well-being. Tapestry's 2019 goals include increasing ethnic minority representation in leadership, improving Employee Inclusion Index scores, promoting internal career progression, and enhancing work-life balance through robust benefits. The commitment to its workforce is pivotal to Tapestry's success across its esteemed brands - Coach, kate spade new york, and Stuart Weitzman.
Tapestry, Inc. (NYSE: TPR) has declared a quarterly cash dividend of $0.30 per share, payable on December 27, 2022. Shareholders of record as of the close of business on December 9, 2022 will receive this dividend. The company, known for its luxury brands including Coach, Kate Spade, and Stuart Weitzman, emphasizes its commitment to sustainability and inclusivity in the fashion industry, leveraging its brand strengths to enhance customer experiences and community empowerment.