Tapestry Inc Stock Price, News & Analysis

Tapestry, Inc. (NYSE: TPR) will hold a conference call on August 19, 2021, at 8:00 a.m. ET to discuss its fiscal fourth quarter and year-end results. The earnings will be shared via press release earlier that morning. Interested participants can dial 1-866-847-4217 or 1-203-518-9845, using Conference ID 6727129. An audio webcast will be available at www.tapestry.com/investors. A replay of the call will be accessible for five business days after, with specific numbers provided for access.

Tapestry, Inc. (NYSE: TPR) has launched a new Tapestry Foundation to enhance access and equity initiatives and combat climate change. The Company committed $25 million to the Foundation and announced an additional $25 million from the Coach Foundation. Tapestry is implementing four significant ESG commitments, including tying 10% of leadership compensation to diversity goals and providing all employees with a paid volunteer day. Furthermore, Tapestry will introduce a minimum wage of $15 per hour for U.S. employees and offer appreciation bonuses to retail staff. No impact on FY21 and FY22 results is anticipated.

Coach has unveiled its global Fall 2021 campaign featuring a star-studded cast including Jennifer Lopez, Michael B. Jordan, and Jeremy Lin. The campaign emphasizes friendship and community, showcasing the new Fall collection with bags like the Tate, Soft Tabby, Hitch Backpack, and the iconic Rogue. Creative Director Stuart Vevers highlights themes of connection and joy, inspired by outdoor gatherings and real communities worldwide. The campaign expresses optimism and spontaneity, resonating with the brand's legacy of craftsmanship and inclusivity, as part of Tapestry, Inc. (TPR).

Tapestry, Inc. (NYSE: TPR) announced that CEO Joanne Crevoiserat will present at the Bernstein Strategic Decisions Conference on June 2nd at 11:00 a.m. ET. The presentation will be webcast live to the public and archived for five business days. Tapestry is a New York-based luxury lifestyle brand house, including Coach, Kate Spade, and Stuart Weitzman, known for its focus on creativity, inclusivity, and authenticity. For more information and to access the presentation, visit www.tapestry.com/investors.

Tapestry, Inc. (NYSE: TPR) reported strong fiscal Q3 2021 results with a 19% increase in net sales to $1.27 billion, driven by robust digital growth and a 175% revenue surge in Mainland China compared to FY20. Gross margin improved to 71.6% from 57.4% year-over-year, supported by discipline in promotions and effective expense management. Operating income rose to $117 million, with significant progress in customer engagement and a 700,000 increase in new e-commerce customers. Outlook remains optimistic, expecting a mid-teens revenue growth for FY21.

Tapestry, Inc. (NYSE: TPR) has appointed Scott A. Roe as Chief Financial Officer, effective June 1, 2021. Roe has a 25-year tenure at VF Corporation, where he excelled as CFO and significantly influenced finance and corporate development. He aims to enhance Tapestry's strategy and operational performance in a transforming consumer landscape. Alongside this change, Andrea Shaw Resnick transitions to Chief Communications Officer, while Christina Colone is promoted to Global Head of Investor Relations. These leadership updates indicate a focused effort on strategic growth.

Tapestry, Inc. (NYSE: TPR) will hold a conference call on May 6, 2021, at 8:00 a.m. (ET) to discuss its third-quarter results. The results will be released earlier that morning. Investors can participate by dialing 1-877-510-8087 or 1-862-298-9015, using Conference ID 5689959. A replay will be available for five business days starting at noon on the same day. Tapestry is a modern luxury lifestyle brand company that includes Coach, Kate Spade, and Stuart Weitzman, focusing on consumer-led luxury and innovation.

Tapestry, Inc. (NYSE: TPR) has appointed Todd Kahn as Chief Executive Officer and Brand President of Coach, effective immediately. Kahn has been with the company since 2008, most recently serving as Interim CEO since July 2020. Joanne Crevoiserat, CEO of Tapestry, expressed confidence in Kahn’s leadership, noting his ability to deliver strong business results during the pandemic and attract a younger customer base. Kahn aims to implement a consumer-centric approach to drive innovation and profitability, capitalizing on Coach's storied history and team talent.

Kate Spade New York, a brand of Tapestry (NYSE: TPR), announced a new creative structure to enhance consumer focus and innovation. Key roles such as SVP, Brand Concept & Strategy and Head of Product Design will be established, alongside existing leaders to ensure brand consistency. CEO Liz Fraser noted progress in refocusing the brand's core collection. Kristen Naiman will transition to SVP, Brand Concept & Strategy on April 1, 2021, while Nicola Glass will depart on the same date. The company is actively searching for a new Head of Product Design.