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TapestryTPR

Legal name
Tapestry, Inc.
Sector
Other
Industry
Leather & Leather Products
Exchange
NYSE

Stock Price $TPR

Latest filings

You are here#37 of 42 in Consumer Discretionary by market cap

Filing record · 2016–202610-K1110-Q328-K145

TPR filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 145 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Dec ’17Dec ’17
  2. Restructuring8-K · Apr ’20Apr ’20
  3. Material agreement8-K · Dec ’21Dec ’21
  4. Leadership change8-K · Sep ’25Sep ’25

01—Key figures

Source: 10-KFY2026
Source: 10-KFY2026
Source: 10-KFY2026
Source: 10-KFY2026

Revenue Trend

Year-over-year comparison from 10-K annual reports

  19. $8.00B
YoY changeLargest recent move+31.0%in FY18Latest +14.2%

Latest bar from 10-KFY2026Click a bar to open its SEC filing

View full history →
All TPR Financial Metrics59 metrics

Income Statement14

Balance Sheet26

Cash Flow14

Per Share5

02—Overview

Tapestry Financial Overview 2022–2026

Updated Nov 4, 2026

Tapestry's operating income jumped from $415.0 million in FY2025 to $1.91 billiona in FY2026, a 23.9% operating margin. The swing matters because the prior year carried $854.8 million of Kate Spade impairments. The core thesis: Coach is doing the heavy lifting, and it is now powerful enough to carry the whole company while Kate Spade shrinks.

Over the full span, net sales grew from $6.68 billion in FY2022 to $8.00 billionb in FY2026. Gross margin climbed from 69.6% to 77.8% over the same stretch. In FY2026, Coach sales rose 23.5% to $6.91 billion, while Kate Spade fell 10.2% to $1.07 billion. Diluted EPS reached $7.27, against $0.82 a year earlier. Tariffs trimmed gross margin by roughly 130 basis points, and the company still expanded it by 240 basis points.

The balance sheet moved from deal risk to capital returns. The failed Capri bid left $6.14 billionc of cash and heavy debt at the end of FY2024. By FY2026, debt was about $2.38 billion, operating cash flow hit $1.98 billion, and the company repurchased $1.55 billion of stock and paid $326.1 million in dividends. Buybacks and impairments pushed equity down to $692.1 million. The market noticed the recovery. At the close of FY2025, the shares traded at 106.2x earnings on depressed EPS, with a $18.1 billion market cap. At the close of FY2026, the price was $146.00, 20.1x earnings, for a $29.3 billion market cap.

Recent Developments (Q3 and Q4 2026)

Growth slowed through the back half. Q3 2026 net sales rose 21.2% to $1.92 billiond, with Coach up 31.5%. Q4 2026 net sales were $1.88 billion, up only 9% reported, with Coach up 15% and Kate Spade down 7%. Q3 operating margin was 22.3%, versus 16.0% a year earlier, and tariffs cut Q3 gross margin by about 180 basis points. Management raised its outlook in May, then guided FY2027 revenue to $8.4 to $8.5 billion and non-GAAP EPS to $7.80 to $7.90. The board lifted the quarterly dividend 16% to $0.4625.

The bull case: Coach is still compounding, Greater China pro forma sales rose 61% in Q3, and the multiple is modest. The bear case: Coach growth halved from Q3 to Q4, and Kate Spade lost $20.7 millione at the operating level in Q3. At 17.7x earnings as of 2026-08-12, on a $128.39 close, the stock looks reasonably priced. That date is not today.

What to watch: Coach growth against the FY2027 guide; collection of the $114.7 million IEEPA tariff refund

03—Filings

Recent SEC Filings

  1. 8-KTapestry 8-K Report, Financial Results (Aug 13, 2026)Tapestry, Inc. (NYSE: TPR) reported fiscal 2026 fourth-quarter and full-year results for the periods ended June 27, 2026, as furnished in Exhibit 99.1 to this Form 8-K dated August 13, 2026. Fourth-quarter net sales were $1.88 billion, up 9% reported and 8% on a constant currency basis, or 12% and 11% on a pro forma basis excluding Stuart Weitzman. Coach brand revenue grew 15% in the quarter, while Kate Spade declined 7%. For the full year, net sales were $8.00 billion, up 14% reported, with pro forma growth of 18%. GAAP diluted EPS was $1.68 for the quarter and $7.27 for the year, while non-GAAP diluted EPS was $1.32 and $7.05, respectively. Non-GAAP operating margin expanded to 19.3% in the quarter and 23.4% for the year. Items affecting comparability, including IEEPA tariff refunds, increased full-year GAAP operating income by $49 million. The company returned $1.7 billion to shareholders in fiscal 2026 through dividends of $326 million and share repurchases of $1.35 billion. The Board approved a 16% dividend increase to a quarterly rate of $0.4625 per share, implying an anticipated annual rate of $1.85. For fiscal 2027, Tapestry expects revenue of $8.4 billion to $8.5 billion, non-GAAP EPS of $7.80 to $7.90, and adjusted free cash flow approaching $1.7 billion, and it expects to return approximately $1.7 billion to shareholders, including $1.35 billion in share repurchases. The balance sheet showed $1.15 billion in cash and short-term investments, $2.38 billion in total borrowings, and a leverage ratio of 1.1x at fiscal year-end.
  2. 8-KTapestry 8-K Report, Financial Results (May 7, 2026)Tapestry, Inc. (NYSE: TPR) reported fiscal 2026 third-quarter results for the quarter ended March 28, 2026, as furnished in Exhibit 99.1 to this Form 8-K. Net sales were $1.92 billion, up 21% on a reported basis and 19% in constant currency; on a pro forma basis, excluding Stuart Weitzman, sales rose 25% reported and 23% constant currency. Coach brand net sales increased 31% (29% constant currency) to $1.70 billion, while Kate Spade net sales declined 10% to $219.6 million. GAAP diluted EPS was $1.65, up 74%, and non-GAAP diluted EPS was $1.66, up 62%. GAAP operating margin was 22.3%, up 630 basis points, and non-GAAP operating margin was 22.4%, up 490 basis points. The company raised its fiscal 2026 outlook on a non-GAAP basis. Revenue is now expected in the area of $7.95 billion, up from prior guidance of over $7.75 billion, and operating margin is expected at approximately 23%, up from prior guidance of about a 180 basis point increase. EPS is now expected in the area of $6.95, versus prior guidance of $6.40 to $6.45, and adjusted free cash flow is expected to approach $1.6 billion, versus prior guidance of about $1.5 billion. Tapestry also increased its planned fiscal 2026 shareholder returns to $1.6 billion, up from $1.5 billion, comprising a quarterly dividend of $0.40 per share and approximately $1.3 billion in share repurchases, up from $1.2 billion. At March 28, 2026, cash, cash equivalents and short-term investments totaled $1.07 billion, total borrowings were $2.38 billion, and the leverage ratio was 1.1x. The company expects to report fiscal fourth-quarter and full-year results on August 13, 2026.
  3. 8-KTapestry 8-K Report, Executive Changes (Apr 6, 2026)Tapestry, Inc. (NYSE: TPR) filed this Current Report on Form 8-K dated April 6, 2026, to disclose a board change. On April 6, 2026, the Board increased its size from ten to eleven members and elected Matthew (Matt) Madrigal as a director, effective the same day. The filing states that the appointment brings the Board to eleven members, including ten independent directors. Mr. Madrigal is Chief Technology Officer of Pinterest, Inc., and the filing describes his background in technology, e-commerce, and consumer engagement, including prior roles at Google, Fanatics, Williams-Sonoma, and eBay. Under the Company's standard non-employee director compensation arrangements, Mr. Madrigal will receive an annual cash retainer of $100,000 and an annual equity grant with a grant-date fair market value of $200,000, paid entirely in restricted stock units (RSUs) on the date of the annual stockholders meeting. Those annual awards vest in full one year after grant, subject to continued service. He will also receive an initial equity award with a grant-date fair market value of $200,000 on April 6, 2026, entirely in RSUs, which vests on the one-year anniversary of the grant date. The filing states that there are no arrangements or understandings under which Mr. Madrigal was selected as a director and no related-party transactions requiring disclosure under Item 404(a) of Regulation S-K. CEO Joanne Crevoiserat said his expertise will help drive the Company's Amplify growth agenda, and Board Chair Anne Gates welcomed his perspective on scaling global consumer platforms.
  4. 8-KTapestry 8-K Report, Financial Results (Feb 5, 2026)Tapestry, Inc. (NYSE: TPR) reported fiscal 2026 second-quarter results for the quarter ended December 27, 2025, with net sales of $2.50 billion, up 14% from the prior year on both a nominal and constant currency basis. Excluding Stuart Weitzman, which was divested on August 4, 2025, pro forma net sales rose 18%, led by a 25% gain at Coach, while Kate Spade declined 14%. GAAP operating margin was 28.6%, up 620 basis points, and GAAP diluted EPS was $2.68 versus $1.38 a year earlier, an increase of 94%. Non-GAAP diluted EPS was $2.69, up 34%. Management cited a 110 basis point gross margin improvement, which absorbed a negative tariff and duty impact of 190 basis points. The company raised its fiscal 2026 outlook. Revenue is now expected to be over $7.75 billion, versus prior guidance of about $7.3 billion. Non-GAAP EPS guidance is $6.40 to $6.45, up from $5.45 to $5.60, and adjusted free cash flow is now expected to be about $1.5 billion, up from $1.3 billion. Operating margin expansion is now expected to be about 180 basis points, compared with prior guidance of about 50 basis points. The company also increased planned shareholder returns to $1.5 billion for fiscal 2026, including about $1.2 billion of share repurchases, up from $1.0 billion previously. Balance sheet metrics remained solid. Cash, cash equivalents and short-term investments totaled $1.08 billion, total borrowings were $2.40 billion, and the leverage ratio was 1.2x. Operating cash flow for the quarter was $1.08 billion, compared with $506 million a year earlier. The company also declared a quarterly dividend of $0.40 per share, payable March 23, 2026.
  5. 8-KTapestry 8-K Report, Shareholder Vote Results (Nov 14, 2025)Tapestry, Inc. reported the results of its Annual Meeting of Stockholders, held on November 13, 2025, in an Item 5.07 Form 8-K filed November 14, 2025. Stockholders voted on three proposals: the election of directors, the ratification of Deloitte & Touche LLP as the independent registered public accounting firm for the fiscal year ending June 27, 2026, and a non-binding advisory vote on executive compensation as described in the 2025 Proxy Statement. The filing reports the vote counts for each item but does not state the outcome of any proposal beyond the tallies. All ten director nominees received more votes for than against, though support varied. Anne Gates received 157,562,258 votes for and 5,080,460 against, and Kevin Hourican received 158,835,531 for and 3,802,373 against. Darrell Cavens received 159,031,908 for and 3,606,282 against. The other seven nominees each received between 162,184,242 and 162,499,170 votes for, with against votes ranging from 139,642 to 976,455. Each nominee also had 20,247,280 broker non-votes. The auditor ratification received 173,156,703 votes for, 9,704,124 against, and 226,629 abstaining. On the advisory say-on-pay proposal, 146,147,336 votes were cast for, 16,387,143 against, and 305,697 abstaining, with 20,247,280 broker non-votes. The say-on-pay vote shows the largest opposition of the three proposals, which investors may wish to monitor in future compensation discussions.
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04—See also

Related Companies

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