Tapestry Inc Stock Price, News & Analysis

Tapestry, Inc. (NYSE: TPR), a premier New York-based luxury accessories and lifestyle brand house, announced that CEO Joanne Crevoiserat will present at the Bank of America Consumer & Retail Technology Conference on Tuesday, March 8 at 3:30 p.m. ET. The presentation will be available via live webcast and will be archived for five business days. Investors can access this on Tapestry’s Investor Relations website or through the webcast link.

Tapestry, Inc. (NYSE: TPR) has declared a $0.25 quarterly cash dividend per common share, payable on March 28, 2022, to shareholders of record as of March 4, 2022. The company, which owns luxury brands Coach, Kate Spade, and Stuart Weitzman, focuses on innovation and sustainability while offering distinctive products across various channels. This dividend announcement indicates a commitment to returning value to shareholders.

Tapestry, Inc. (TPR) reported a record holiday quarter, with revenue growth of 27% year-over-year, totaling $2.14 billion, and a non-GAAP EPS of $1.33, surpassing expectations. The company increased guidance for the fiscal year, projecting revenue of $6.75 billion and EPS between $3.60 and $3.65. Tapestry also plans to return over $1.5 billion to shareholders through share repurchases and dividends. The strong performance was driven by momentum at Coach and Kate Spade, and a return to pre-pandemic levels at Stuart Weitzman.

Tapestry, Inc. (NYSE: TPR) will hold a conference call on February 10, 2022, at 8:00 a.m. (ET) to discuss its fiscal 2022 second quarter results. The results will be published in a press release earlier that morning. Interested parties can join the call by dialing 1-866-847-4217 or 1-203-518-9845 using Conference ID 9674276. An audio webcast is also available at www.tapestry.com/investors. A telephone replay will be accessible for five business days after the call.

Tapestry, Inc. (NYSE: TPR) released its FY2021 Corporate Responsibility report, showcasing progress in sustainability initiatives and ESG commitments. Key highlights include a commitment to pay U.S. hourly employees a minimum of $15 starting September 2021 and achieving 21% renewable energy across North American operations. The company launched a biodiversity strategy and the Coach (Re)Loved circularity initiative. Additionally, Tapestry’s ambitious goals for 2025 were expanded, reinforcing its commitment to a more sustainable future.

Coach has launched its Spring 2022 campaign, featuring a diverse lineup called the Coach Family, including Jennifer Lopez and Megan Thee Stallion. Directed by Tyler Mitchell, the campaign, titled 'That's My Ride,' presents Coach's heritage in a modern, vibrant way. It introduces a new collection, showcasing the Horse and Carriage line, Field Tote, and Hitch Backpack, reflecting the creative vision of Stuart Vevers. The campaign also engages with popular culture, combining social media elements and collaborations with new ambassadors.

Tapestry (NYSE: TPR) has announced a partnership with the Savory Institute’s Land to Market Program to enhance the sustainability of its supply chain. The collaboration will focus on utilizing regenerative raw materials, which will positively impact the environment, promote biodiversity, and decrease CO₂ emissions. CEO Todd Kahn emphasized the commitment to environmental improvement through strategic changes in their supply chain. Tapestry aims to achieve 100% renewable electricity across its operations by 2025 and is also pursuing science-based targets to limit global warming and reach net-zero emissions by 2050.

Tapestry, Inc. (NYSE: TPR), a prominent luxury accessory brand house, announced a $500,000,000 cash tender offer for its senior notes. The total consideration and reference yield for the tender offer have been established, with expectations to accept $296.6 million of the 4.250% Notes due 2025 and $203.4 million of the 4.125% Notes due 2027. The offer expires on December 13, 2021, contingent upon the issuance of new debt amounting to $500 million by December 1, 2021.

Tapestry, Inc. (NYSE: TPR) announced early tender results for its cash tender offer to purchase up to $500,000,000 of its 4.250% Notes due 2025 and 4.125% Notes due 2027. As of the Early Tender Deadline on November 29, 2021, a total of $296,608,000 of the 4.250% Notes and $264,805,000 of the 4.125% Notes were validly tendered. The settlement is set for December 1, 2021. The offering is conditioned on the successful issuance of new debt financing of at least $500,000,000 on satisfactory terms.