Tapestry Inc Stock Price, News & Analysis

Coach and Gen Phoenix are set to present at CES 2025 on January 9th, showcasing their collaborative efforts in sustainable fashion innovation. The partnership, which began in March 2023 with Tapestry's (NYSE: TPR) strategic investment in Gen Phoenix, focuses on revolutionizing luxury fashion through sustainable practices.

Gen Phoenix's material boasts at least an 80% lower carbon footprint compared to conventional leather. The collaboration has already yielded results through Coachtopia, Coach's circular sub-brand launched in April 2023, featuring handbags made with Gen Phoenix's recycled leather fiber material.

At CES, Coach CEO Todd Kahn and Gen Phoenix CMO Elyse Winer will discuss their partnership's evolution, unveil new product innovations, and outline future plans. The presentation will include exclusive Coach products made with new-to-market recycled leather fibers specifically for CES 2025.

Coach and Gen Phoenix are set to showcase their partnership at CES 2025, highlighting sustainable innovation in fashion. The companies will present during the Great Minds panel on January 9th, featuring Coach CEO Todd Kahn and Gen Phoenix CMO Elyse Winer.

The partnership, which began in March 2023 with Tapestry's (NYSE: TPR) strategic investment in Gen Phoenix, focuses on sustainable leather manufacturing. Gen Phoenix's material boasts at least an 80% lower carbon footprint compared to conventional leather. The collaboration gained momentum in April 2023 with the launch of Coachtopia, Coach's circular sub-brand featuring products made with Gen Phoenix's recycled leather fiber material.

During the CES event, attendees will have the opportunity to win exclusive Coach products made with new-to-market recycled leather fibers. The panel will explore luxury evolution in conscious consumption and reveal new product innovations.

Tapestry Inc. (NYSE:TPR) has released its FY2024 Corporate Responsibility report, highlighting significant achievements in sustainability and social impact. The company, which owns Coach, Kate Spade, and Stuart Weitzman, reported an 84% reduction in Scope 1 and 2 GHG emissions compared to FY2021, meeting its science-based targets through renewable energy investments.

Key achievements include Coach's reissued Soho Bag featuring repurposed denim, resulting in up to 80% reduction in GHG emissions and 95% less water consumption. Employees contributed over 65,000 volunteer hours toward the company's 2030 target of 500,000 hours. The company also received multiple international awards for being a top employer from Forbes, Fortune, TIME, USA Today, and Newsweek.

Tapestry, Inc. (NYSE: TPR), which includes brands like Coach, Kate Spade, and Stuart Weitzman, has released its FY2024 Corporate Responsibility (CR) report. The report showcases the company's achievements in sustainability, social impact, and community building. Key highlights include an 84% reduction in Scope 1 and 2 GHG emissions from the FY2021 baseline, driven by investments in renewable energy. Additionally, Coach reissued its Soho Bag using repurposed denim, which reduces GHG emissions by up to 80% and water use by up to 95% compared to conventional denim. Employees volunteered over 65,000 hours globally, contributing to a target of 500,000 volunteer hours by 2030. Tapestry also received over 10 international awards for being a top employer. The full report is available on Tapestry.com.

Tapestry, Inc. (NYSE: TPR) announced the closing of its offering of $1.5 billion in senior unsecured notes. The offering includes $750 million of 5.100% notes due 2030 and $750 million of 5.500% notes due 2035.

The company plans to use the net proceeds from this offering, along with cash on hand, to repay outstanding loans under its term loan credit agreement and to repay borrowings under its revolving credit facility. These borrowings were used to fund share repurchases under Tapestry’s accelerated share repurchase agreements and for general corporate purposes.

BofA Securities, Morgan Stanley, and J.P. Morgan acted as joint lead book-running managers for this offering. Tapestry is the parent company of iconic brands like Coach, Kate Spade, and Stuart Weitzman. The company emphasizes innovation, authenticity, and sustainability across its brands.

Tapestry (NYSE: TPR) has announced the pricing of its senior unsecured notes offering, consisting of $750.0 million of 5.100% notes due 2030 and $750.0 million of 5.500% notes due 2035. The offering is expected to close on December 11, 2024.

The company plans to use the proceeds, along with cash on hand, to repay outstanding term loan debt and revolving credit facility borrowings that were used for share repurchases. BofA Securities, Morgan Stanley, and J.P. Morgan are serving as joint lead book-running managers for the offering.

Tapestry (NYSE: TPR), owner of Coach, Kate Spade, and Stuart Weitzman brands, has announced a public offering of senior unsecured notes. The company plans to use the proceeds, along with available cash, to repay outstanding term loan debt and revolving credit facility borrowings that were previously used for share repurchases under accelerated share repurchase agreements. BofA Securities, Morgan Stanley, and J.P. Morgan are serving as joint lead book-running managers for the offering.

Tapestry (NYSE: TPR) has announced $2.0 billion Accelerated Share Repurchase (ASR) agreements with Bank of America and Morgan Stanley. The company will receive an initial delivery of 28.4 million shares on November 26, 2024, representing about 80% of expected shares. The ASR is funded through a $750 million term loan, $1.0 billion from revolving credit, and $250 million cash. Tapestry expects to return over 100% of free cash flow to shareholders in Fiscal 2025 through dividends and repurchases. The final settlement is expected by Q1 Fiscal 2026. An additional $800 million remains available for future repurchases.

Tapestry (NYSE: TPR) and Capri Holdings have mutually agreed to terminate their merger agreement, citing uncertainty in the legal process and unlikely resolution by February 2025. In response, Tapestry announced a new $2 billion share repurchase authorization, including a planned Accelerated Share Repurchase program. The company will maintain its annual dividend rate of $1.40 per share in Fiscal 2025 and redeem $6.1 billion in acquisition-related senior notes. Tapestry agreed to reimburse Capri's transaction expenses of approximately $45 million. The company reaffirmed its Fiscal 2025 outlook and emphasized its commitment to organic growth and shareholder value creation.