TPR

EX-99.1

2 ef20072115_ex99-1.htm

EXHIBIT 99.1

Exhibit 99.1

CONTACTS:

Tapestry, Inc.

Analysts and Investors:

Christina Colone

Global Head of Investor Relations

212/946-7252

ccolone@tapestry.com

Media:

Jennifer Leemann

Global Head of Communications

212/631-2797

jleemann@tapestry.com

TAPESTRY, INC. REPORTS FISCAL 2026 THIRD QUARTER RESULTS AND RAISES FULL YEAR OUTLOOK

Achieved Double-Digit Revenue, Operating Profit, and EPS

Growth, Exceeding Expectations

•

Delivered Revenue of $1.9 Billion, an Increase of 21% Versus Prior Year (+19% Constant Currency)

•

Achieved Pro Forma Revenue Growth of 25% (+23% Constant Currency) Led by a 31% (+29% Constant Currency) Gain at the Coach Brand

•

Drove Operating Margin Expansion of 630 Basis Points on a GAAP Basis and 490 Basis Points on a Non-GAAP Basis Fueled by a Gross Margin Increase and SG&A Leverage

•

Achieved GAAP Diluted EPS of $1.65, up 74% Versus Prior Year, and Non-GAAP Diluted EPS of $1.66, an Increase of 62% Versus Prior Year

•

On Track to Return $1.6 Billion to Shareholders in Fiscal Year 2026, an Increase Versus Prior Guidance, Driven by Strong Balance Sheet and Robust Cash Flow Generation

•

Raises Fiscal Year 2026 Revenue, Operating Margin, EPS and Cash Flow Outlook

Link to Download Tapestry’s Q3 Earnings Presentation, Including Brand Highlights

New York, May 7, 2026 – Tapestry, Inc. (NYSE: TPR), a house of iconic accessories and lifestyle brands, consisting of Coach and kate spade new york, today reported results for the fiscal third quarter ended March 28, 2026.

10 HUDSON YARDS, NEW YORK, NY 10001 TELEPHONE 212 594 1850 FAX 212 594 1682 WWW.TAPESTRY.COM

Joanne Crevoiserat, Chief Executive Officer of Tapestry, Inc., commented:

“Our third quarter outperformance reflects the compounding benefits of our Amplify strategy, as we bring creativity, craftsmanship, and value to more consumers around the world.   With disciplined execution and the consumer at the center of everything we do, we are translating insights into action at scale, fueling meaningful growth, expanding margins, and enduring brand desire.  From this position of strength, we move confidently into the future with significant opportunity ahead.  We are raising our outlook for the fiscal year, underscoring the power of Tapestry and our commitment to driving durable growth and long-term shareholder value.”

Tapestry, Inc. Fiscal 2026 Third Quarter Financial Highlights (Unaudited) – in USD millions except per share data

Quarter Ended

March 28, 2026

March 29, 2025

Change

Constant

Currency %

Change

Net sales

1,920.6

1,584.6

21%

19%

Pro Forma Net sales1

1,920.6

1,538.4

25%

23%

Gross profit

1,476.5

1,205.8

22%

Gross margin

76.9%

76.1%

80 bps

Non-GAAP Gross profit2

1,476.5

1,205.8

22%

Non-GAAP Gross margin2

76.9%

76.1%

80 bps

Operating income

427.5

253.7

69%

Operating margin

22.3%

16.0%

630 bps

Non-GAAP Operating income2

430.1

277.3

55%

Non-GAAP Operating margin2

22.4%

17.5%

490 bps

Earnings per diluted share

1.65

0.95

74%

Non-GAAP Earnings per diluted share2

1.66

1.03

62%

1 Pro forma Net sales and related growth rates exclude Net sales of the Stuart Weitzman Business on a reported and constant currency basis, in both periods presented. Refer to Schedule 2.

2 Refer to Schedule 3 for reconciliation between GAAP and Non-GAAP measures.

2

Summary of Pro Forma Revenue Information (Unaudited) – in USD millions

% Change

Quarter Ended

March 28, 2026

Reported

Constant Currency

Brand

Coach

1,701.0

31 %

29 %

Kate Spade

219.6

(10)%

(11)%

Region1

North America

1,101.7

20 %

20 %

Greater China2

432.2

61 %

55 %

Japan

123.9

(10)%

(10)%

Other Asia2

116.3

24 %

16 %

Europe

118.6

31 %

21 %

Other2

27.9

(3)%

(3)%

Tapestry Pro Forma

1,920.6

25%

23%

1 Pro forma Net sales and related growth rates exclude Net sales of the Stuart Weitzman Business on a reported and constant currency basis. Refer to Schedule 2.

2 Refer to "About Tapestry, Inc." section below for countries included within each region.

Tapestry, Inc. Fiscal 2026 Third Quarter Strategic Highlights

Tapestry advanced its Amplify growth strategy, which is focused on four key pillars that underpin durable growth:

•

Build Emotional Connection with Consumers

•

Fuel Fashion Innovation and Product Excellence

•

Deliver Compelling Experiences to Drive Global Growth

•

Ignite the Power of our People

This strategy is driving the Company’s results today and continues to expand its competitive advantages into the future.

3

Highlights from the fiscal third quarter included:

•

Acquired over 2.4 million new customers globally, led by a growing number of Gen Z consumers versus prior year, which represented over 35% of new customers; further, demand from existing customers also increased, demonstrating broad-based traction and an ability to consistently attract and retain new generations of consumers in a large TAM;

•

Accelerated growth in

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported):          February 5, 2026

Tapestry, Inc.

(Exact name of registrant as specified in its charter)

Maryland

1-16153

52-2242751

(State of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

10 Hudson Yards, New York, NY 10001

(Address of principal executive offices) (Zip Code)

(212) 946-8400

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which

registered

Common Stock, $0.01 par value

TPR

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Item 2.02

Results of Operations and Financial Condition.

On February 5, 2026, Tapestry, Inc. (“Tapestry” or the “Company”) issued a press release (the “Press Release”) in which the Company announced its financial results for its second fiscal quarter ended December 27, 2025. The Company also posted a slide presentation entitled “Investor Presentation” dated February 5, 2026 on the “Presentations & Financial Reports” investor section of its website (www.tapestry.com). A copy of the Press Release is furnished herewith as Exhibit 99.1. Information on the Company’s website is not, and will not be deemed to be, a part of this Current Report on Form 8-K or incorporated into any other filings the Company may make with the Securities and Exchange Commission.

The information in this Current Report on Form 8-K, including Exhibit 99.1, is being furnished to the Securities and Exchange Commission and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to liability under that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Item 9.01

Financial Statements and Exhibits.

(d)  Exhibits.  The following exhibits are being furnished herewith:

99.1

Text of Press Release, dated February 5, 2026

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated:  February 5, 2026

TAPESTRY, INC.

By:

/s/ David E. Howard

David E. Howard

Chief Legal Officer and Secretary

EXHIBIT INDEX

99.1

Text of Press Release, dated February 5, 2026

false000111613200011161322025-11-062025-11-06

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported):          November 6, 2025

Tapestry, Inc.

(Exact name of registrant as specified in its charter)

Maryland

1-16153

52-2242751

(State of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

10 Hudson Yards, New York, NY 10001

(Address of principal executive offices) (Zip Code)

(212) 946-8400

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR

240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR

240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $0.01 par value

TPR

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Item 2.02

Results of Operations and Financial Condition.

On November 6, 2025, Tapestry, Inc. (“Tapestry” or the “Company”) issued a press release (the “Press Release”) in which the Company announced its financial results for its first fiscal quarter ended September 27, 2025.  The Company also posted a slide presentation entitled “Investor Presentation” dated November 6, 2025 on the “Presentations & Financial Reports” investor section of its website (www.tapestry.com). A copy of the Press Release is furnished herewith as Exhibit 99.1. Information on the Company’s website is not, and will not be deemed to be, a part of this Current Report on Form 8-K or incorporated into any other filings the Company may make with the Securities and Exchange Commission.

The information in this Current Report on Form 8-K, including Exhibit 99.1, is being furnished to the Securities and Exchange Commission and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to liability under that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Item 9.01

Financial Statements and Exhibits.

(d)  Exhibits.  The following exhibits are being furnished herewith:

99.1

Text of Press Release, dated November 6, 2025

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated:  November 6, 2025

TAPESTRY, INC.

By:

/s/ David E. Howard

David E. Howard

Chief Legal Officer and Secretary

EXHIBIT INDEX

99.1

Text of Press Release, dated November 6, 2025