Tapestry Inc Stock Price, News & Analysis

Tapestry (NYSE: TPR) has scheduled its fiscal 2025 first quarter earnings conference call for Thursday, November 7, 2024, at 8:00 a.m. ET. The company will release its financial results via press release earlier that morning.

Investors can access the call by dialing 1-866-847-4217 or 1-203-518-9845 with Conference ID 4306173, or listen to the audio webcast on the company's investor relations website. A telephone replay will be available for five business days starting at 12:00 noon ET on November 7th.

Jackee de Lagarde, VP of Global Licensing at Kate Spade New York, has been named to Crain's New York Business Notable Black Leaders list. De Lagarde, who joined the brand in 2014, leads the team responsible for the brand's licensing program. Under her leadership, the team has launched numerous categories in apparel, accessories, home, and pet products. Notable achievements include executing five licensing agreements in her first year and successful Starbucks collaborations in Asia during 2020 and 2022. She also served as co-chair of Black Alliance, Tapestry's first Employee Business Resource Group, contributing to the company's diversity initiatives.

Tapestry celebrates its Great Place To Work Certified status on Certification Nation Day. This recognition is based on employee feedback about various aspects of the company, including leadership, purpose, and culture. Tapestry prides itself on cultivating an environment that is both warm and rigorous, with work that is challenging and fun.

The company emphasizes a culture led by both head and heart, where each brand maintains its uniqueness while sharing a commitment to innovation and authenticity. Tapestry aims to:

• Connect with customers
• Empower communities
• Make the fashion industry more sustainable
• Build an equitable, inclusive, and diverse company

Tapestry expresses gratitude to its team members for this achievement and invites interested parties to learn more about their certification status.

Stuart Weitzman, a Tapestry brand, launched its Fall 2024 campaign celebrating modern womanhood with a film titled 'How Lovely to Be a Woman'. The campaign features five new global ambassadors: Aly Raisman, Christy Turlington, Issa Rae, Lucy Liu, and Ming Xi. Each ambassador embodies the campaign's message of women's strength and confidence in unique ways:

- Aly Raisman: Athlete advocate for abuse prevention and mental health
- Christy Turlington: Model and maternal health activist
- Issa Rae: Actor, writer, producer, and rising business mogul
- Lucy Liu: Actress, director, producer, and visual artist
- Ming Xi: International supermodel and actress

The campaign film, directed by Matvey Fiks, features a remix of the 1963 musical song 'How Lovely to Be a Woman'. Fashion photographer Ned Rogers shot the campaign images. Stuart Weitzman aims to inspire women's confidence and empower them to be bold through this initiative.

Kate Spade New York and founding partners launched the Global Fund for Women's Mental Health in September 2024. The fund aims to increase access to community-led mental health interventions for women and girls worldwide. In its first year, it will focus on non-profit partners in North America, the U.K., Japan, Australia, and East Africa, with the first round of partners to be announced in March 2025.

The fund was launched at Kate Spade's 3rd annual Global Summit on Women's Mental Health, featuring celebrities and mental health stakeholders. With an initial investment of $450,000 from Kate Spade New York and contributions from partners, the fund seeks to catalyze further investments. Customers can also donate to the fund when checking out at North American stores.

Kate Spade New York has invested over $31M in women's mental health initiatives to date, reflecting their belief that good mental health is fundamental to women's empowerment. The brand's social impact work aims to provide greater access to culturally competent mental health solutions for women at every stage of life.

Coachtopia, a brand under Tapestry, Inc. (TPR), has launched the "Alter/Ego" collection, showcasing its commitment to circularity in fashion. This innovative line features five new bag styles crafted from leather scraps left over from iconic Coach bags like the Tabby, Hampton, and Brooklyn. Using Coachtopia's Checkerboard Upcrafted Leather technique, these bags have a 59-80% lower carbon footprint than comparable styles made with new materials.

The collection demonstrates Coachtopia's mission to reimagine waste, design, and product end-of-life. Joon Silverstein, SVP Global Marketing and Sustainability at Coach and Head of Coachtopia, emphasizes that this initiative represents a shift from using pre-existing waste to proactively designing out waste. The scalable processes developed through Coachtopia are expected to drive transformative change in the wider Coach brand's approach to circularity.

Yang Lu, Tapestry's recently promoted Chief Information Officer (CIO), has been named one of the '50 Outstanding Asian Americans in Business' by the Asian American Business Development Center. This recognition highlights Lu's leadership in technology integrations and modernizations across Tapestry, as well as her commitment to Equity, Inclusion, and Diversity initiatives. Lu also serves as the Executive Sponsor of Tapestry's Asian Heritage Alliance employee business resource group.

This honor underscores Tapestry's support for its employees' professional growth and achievements. The company encourages interested individuals to learn more about how Tapestry fosters career development and supports its workforce.

Coach unveiled its Spring 2025 collection with a runway show on New York City's High Line, showcasing Creative Director Stuart Vevers' vision of American classics reimagined for a new generation. The collection emphasizes personality and self-expression, blending classical tailoring with casual, counter-cultural elements.

Key highlights include:

• The debut of the Chain Tabby 26 bag
• New variations of the Frame bag
• Introduction of the Soho Sneaker with regenerative leather
• 'Re-loving' concept featuring repurposed post-consumer garments
• Graphic T-shirts with New York pop and rock 'n' roll iconography

The show, held in an urban setting, reflected the collection's theme of mixing different styles and personalities in a city environment.

Tapestry (NYSE: TPR) reported its Q4 and FY2024 results, showcasing a record non-GAAP EPS of $4.29 and total revenue of $6.67 billion, an increase of 1% in constant currency. The company's gross margin improved by 250 basis points, driven by lower freight expenses and FX tailwinds.

Key achievements include acquisition of 6.5M new customers, 1% revenue growth in constant currency, and significant operating and free cash flow of over $1.1 billion. The Coach brand reported record annual revenue exceeding $5 billion.

Despite a 2% decrease in Q4 sales to $1.59 billion, Tapestry achieved a gross margin of 74.9% and non-GAAP EPS of $0.92. CEO Joanne Crevoiserat highlighted the company's strategic advancements and future growth potential.

For FY2025, Tapestry forecasts revenue growth to $6.7 billion, an operating margin increase, and EPS between $4.45-$4.50, excluding the impact of the proposed Capri Holdings acquisition, which faces FTC challenges.