Tapestry Inc Stock Price, News & Analysis

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.

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.