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Tapestry 8-K Report, Financial Results (May 7, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed May 7, 2026
Period End
May 7, 2026
Security
TPR
In the 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. Deal closed8-K · Jul ’17Jul ’17
  2. Leadership change8-K · Feb ’19Feb ’19
  3. Leadership change8-K · Apr ’21Apr ’21
  4. Material agreement8-K · May ’25May ’25

01—Abstract

Summary

Summary of the 8-K filed May 7, 2026. Cited figures are marked; the original filing is the authoritative source.

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 billiona, 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 billionb, 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 $6.95c, 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 billiond, 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.

02—Key points

Key Highlights

  1. Net sales of $1.92 billion rose 21% reported (19% constant currency); pro forma net sales rose 25% (23% constant currency).
  2. Coach brand net sales grew 31% (29% constant currency) to $1.70 billion; Kate Spade net sales fell 10% to $219.6 million.
  3. Greater China pro forma net sales rose 61% reported, and North America rose 20%.
  4. GAAP diluted EPS was $1.65, up 74%; non-GAAP diluted EPS was $1.66, up 62%.
  5. Fiscal 2026 outlook raised: revenue of about $7.95 billion, operating margin of about 23%, and EPS of about $6.95 (prior $6.40 to $6.45).
  6. Planned fiscal 2026 shareholder returns increased to $1.6 billion, including approximately $1.3 billion in share repurchases and a $0.40 quarterly dividend payable June 22, 2026.
  7. Leverage ratio of 1.1x at March 28, 2026, with total borrowings of $2.38 billion and cash and short-term investments of $1.07 billion.

03—Questions

Frequently Asked Questions

  1. How did Tapestry's third-quarter sales perform by brand?

    Coach net sales rose 31% reported (29% constant currency) to $1,701.0 million. Kate Spade net sales declined 10% reported (11% constant currency) to $219.6 million. Stuart Weitzman, divested August 4, 2025, contributed no sales in the quarter, compared with $46.2 million in the prior-year quarter.

  2. What changed in Tapestry's fiscal 2026 guidance?

    On a non-GAAP basis, the company now expects revenue of about $7.95 billion (previously over $7.75 billion), operating margin of about 23% (previously an increase of about 180 basis points versus prior year), EPS of about $6.95 (previously $6.40 to $6.45), and adjusted free cash flow approaching $1.6 billion (previously about $1.5 billion). Net interest expense is now about $60 million, down from about $65 million.

  3. How much is Tapestry returning to shareholders?

    The company now expects to return $1.6 billion in fiscal 2026 through dividends and share repurchases, up from $1.5 billion, equal to about 100% of anticipated adjusted free cash flow. This includes about $1.3 billion of share repurchases, up from $1.2 billion, and a quarterly dividend of $0.40 per share. Year to date through the third quarter, the company spent $1.05 billion to repurchase about 9.3 million shares at an average price of about $112.

  4. What is Tapestry's balance sheet position?

    As of March 28, 2026, cash, cash equivalents and short-term investments totaled $1.07 billion and total borrowings were $2.38 billion. The leverage ratio, calculated as gross debt to adjusted EBITDA, was 1.1x. Inventory was $844 million, compared with $874 million in the prior-year period.

  5. When will Tapestry report its fourth-quarter and full-year results?

    The company expects to report fiscal 2026 fourth-quarter and full-year results on Thursday, August 13, 2026.

04—Continue

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