How did Tapestry's brands perform in fiscal 2026?

Coach drove the results, with fourth-quarter revenue up 15% reported (14% constant currency) to $1.64 billion and full-year revenue up 24% to $6.91 billion. Kate Spade revenue declined, down 7% in the quarter to $235.1 million and down 10% for the year to $1.07 billion.

What is the company's shareholder return plan for fiscal 2027?

Tapestry expects to return approximately $1.7 billion to shareholders in fiscal 2027, including $1.35 billion of planned share repurchases under its existing authorization. The Board also approved a 16% dividend increase, to a quarterly cash dividend of $0.4625 per share, payable September 21, 2026 to holders of record as of September 4, 2026.

How do GAAP and non-GAAP results differ for fiscal 2026?

For the full year, GAAP diluted EPS was $7.27 and non-GAAP diluted EPS was $7.05. The company said items affecting comparability, including IEEPA tariff refunds, distribution network optimization costs, organizational efficiency costs and the Stuart Weitzman divestiture, increased full-year operating income by $49 million and diluted EPS by $0.22 on a GAAP basis.

What does the fiscal 2027 outlook assume?

The outlook projects revenue of $8.4 to $8.5 billion, operating margin expansion of approximately 50 basis points, a tax rate of about 18.5%, and a weighted average diluted share count of about 203 million. It excludes the impact of a 53rd week, which is expected to add an additional percentage point to annual revenue growth, and assumes a mid-20% tariff rate on U.S. inventory receipts.

What was Tapestry's financial position at fiscal year-end?

At June 27, 2026, the company reported cash, cash equivalents and short-term investments of $1.15 billion, total borrowings of $2.38 billion, and a leverage ratio of 1.1x based on gross debt to adjusted EBITDA. Inventory was $826 million, down from $861 million a year earlier.

TPR 8-K: Earnings & Results

01—Abstract

Summary

Summary of the 8-K filed August 13, 2026. Cited figures are marked; the original filing is the authoritative source.

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^a, 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^b 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^c 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^d, 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.

02—Key points

Key Highlights

Q4 FY2026 net sales of $1.88 billion, up 9% reported and 11% pro forma constant currency; Coach up 15% while Kate Spade declined 7%.
Full-year FY2026 net sales of $8.00 billion, up 14% reported and 17% pro forma constant currency, driven by 24% growth at Coach.
Q4 GAAP diluted EPS of $1.68 versus a loss of $(2.49) in the prior year; non-GAAP diluted EPS of $1.32, up 28%.
Full-year non-GAAP diluted EPS of $7.05, up 38%; GAAP diluted EPS of $7.27 versus $0.82 prior year.
Board approved a 16% dividend increase to $0.4625 quarterly, an anticipated annual rate of $1.85 per share, payable September 21, 2026.
FY2027 outlook: revenue of $8.4 to $8.5 billion, non-GAAP EPS of $7.80 to $7.90, and adjusted free cash flow approaching $1.7 billion.
Fiscal 2026 operating cash flow of $1.98 billion; leverage ratio of 1.1x and total borrowings of $2.38 billion at year-end.

03—Questions

Frequently Asked Questions

How did Tapestry's brands perform in fiscal 2026?
Coach drove the results, with fourth-quarter revenue up 15% reported (14% constant currency) to $1.64 billion and full-year revenue up 24% to $6.91 billion. Kate Spade revenue declined, down 7% in the quarter to $235.1 million and down 10% for the year to $1.07 billion.
What is the company's shareholder return plan for fiscal 2027?
Tapestry expects to return approximately $1.7 billion to shareholders in fiscal 2027, including $1.35 billion of planned share repurchases under its existing authorization. The Board also approved a 16% dividend increase, to a quarterly cash dividend of $0.4625 per share, payable September 21, 2026 to holders of record as of September 4, 2026.
How do GAAP and non-GAAP results differ for fiscal 2026?
For the full year, GAAP diluted EPS was $7.27 and non-GAAP diluted EPS was $7.05. The company said items affecting comparability, including IEEPA tariff refunds, distribution network optimization costs, organizational efficiency costs and the Stuart Weitzman divestiture, increased full-year operating income by $49 million and diluted EPS by $0.22 on a GAAP basis.
What does the fiscal 2027 outlook assume?
The outlook projects revenue of $8.4 to $8.5 billion, operating margin expansion of approximately 50 basis points, a tax rate of about 18.5%, and a weighted average diluted share count of about 203 million. It excludes the impact of a 53rd week, which is expected to add an additional percentage point to annual revenue growth, and assumes a mid-20% tariff rate on U.S. inventory receipts.
What was Tapestry's financial position at fiscal year-end?
At June 27, 2026, the company reported cash, cash equivalents and short-term investments of $1.15 billion, total borrowings of $2.38 billion, and a leverage ratio of 1.1x based on gross debt to adjusted EBITDA. Inventory was $826 million, down from $861 million a year earlier.

04—Continue

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