Welcome to our dedicated page for Tapestry news (Ticker: TPR), a resource for investors and traders seeking the latest updates and insights on Tapestry stock.
Tapestry, Inc. (NYSE: TPR) is frequently in the news as a global house of accessories and lifestyle brands that unites Coach and kate spade new york. News coverage about Tapestry often reflects its brand performance, strategic growth agenda, corporate responsibility initiatives and capital allocation decisions, giving investors and followers insight into how the company manages its portfolio and engages consumers.
Recent announcements highlight Tapestry’s fiscal results, including record quarterly and annual revenue, updates on margins and earnings, and details on its direct-to-consumer performance across regions. These releases often discuss progress on the company’s Amplify growth strategy, which focuses on building emotional connections with consumers, fueling fashion innovation and product excellence, delivering compelling experiences to drive global growth and igniting the power of its people.
Tapestry news also covers major corporate actions and partnerships. Examples include the completion of the sale of the Stuart Weitzman brand to Caleres, the authorization of a multi-billion-dollar share repurchase program, and updates on dividend policies and capital return plans. Corporate responsibility stories feature the publication of Tapestry’s Corporate Responsibility Report, progress toward renewable electricity goals and initiatives to strengthen global leather supply chains.
Another important stream of news involves sustainability and innovation partnerships, such as Tapestry’s long-term agreement with Pivot Energy to purchase Renewable Energy Credits from Illinois community solar projects and its expanded investment and supply agreement with Gen Phoenix for recycled leather fiber materials. Together, these items provide a view into how Tapestry approaches growth, brand-building, sustainability and shareholder value. For ongoing context, readers can follow earnings releases, Investor Day updates, ESG milestones and strategic transactions related to TPR.
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.
Tapestry Inc. (NYSE: TPR) reported strong fiscal 2025 first quarter results, outperforming expectations with revenue of $1.51 billion, in line with the previous year. The company achieved record non-GAAP diluted EPS of $1.02 and a significant gross margin expansion of 280 basis points. Coach brand showed growth while Kate Spade saw a 7% decline. The company demonstrated strong international performance, particularly in Europe (+27%), despite a slight decrease in APAC (-2%). Based on these results, Tapestry raised its fiscal 2025 outlook, now expecting revenue over $6.75 billion and EPS of $4.50 to $4.55.
Coach's SVP of Global Marketing and Sustainability, Joon Silverstein, delivered a TED Talk about Coachtopia's innovative approach to waste management in fashion. The talk focused on how Coachtopia, launched in 2023, aims to advance a circular fashion system through their Made Circular™ principles. Using the Alter/Ego collection as an example, Silverstein discussed their journey toward circularity, emphasizing progress over perfection. The initiative focuses on lowering carbon footprints compared to conventional manufacturing methods and collaborating with industry partners to eliminate waste and reduce emissions across their supply chain.