Tapestry

Tapestry, Inc. (Tapestry) is a New York company with two brands, Coach and Kate Spade New York. It sells handbags, small leather goods, accessories and other products through its own stores and websites, wholesale customers and licensing. Net sales were $1,894 million in Q1 of fiscal 2027, which ended on September 26, 2026. Coach had sales of $1,661 million and Kate Spade had $233 million.

North America had $1,110 million and Greater China had $385 million. Tapestry sold its Stuart Weitzman business on August 4, 2025. Joanne Crevoiserat is Chief Executive Officer. The fiscal year of Tapestry ends on the Saturday nearest June 30.

The common stock trades on the NYSE in US dollars. Tapestry files 10-K and 10-Q reports.

The price of Tapestry depends on whether Coach can keep growing quickly while the gains in margin hold against tariffs and a weak Kate Spade. In Q1 of fiscal 2027, pro forma revenue rose 12%, Coach rose 16% and Kate Spade fell 10%. Non-GAAP operating margin was 23.2%, which is 230 basis points more than a year before. Management raised its outlook for fiscal 2027 to earnings per share of $8.25 to $8.35.

For the price to hold or rise, four things must be true. Coach must keep its growth, led by Greater China, Europe and handbags with higher prices. Gross margin must keep its gains while the tariff rate stays in the outlook. Kate Spade must stop losing sales or stay small in the total.

Tapestry must keep buying back shares, with $1.7 billion planned for fiscal 2027. The Q2 report, expected in early February 2027, and the Q3 report in spring 2027 are the next tests. If Coach growth slows, or if tariffs rise, the price can fall.

1. Feb 4, 2027 · est.Pending

   Q2 fiscal 2027 resultsRevenue growth of 5% to 6% in constant currency and earnings per share near $3.05, as guided, and this passes; a miss on either fails.
2. May 2027 · est.Pending

   Q3 fiscal 2027 resultsCoach keeps double-digit growth and the outlook for fiscal 2027 stays at or above $8.25, and this passes; slower Coach growth or a cut to the outlook fails.

Every passed and failed checkpoint across all picks

• November 5, 2026Tapestry reported Q1 fiscal 2027 results and raised its outlook. Net sales rose 11% to $1,894 million, and non-GAAP earnings per share rose 32% to $1.82. It repurchased 4.6 million shares for $600 million in the quarter and now plans $1.7 billion of repurchases in fiscal 2027. The board declared a quarterly dividend of $0.4625 per share, payable on December 21, 2026.
• November 5, 2026Tapestry said in its Form 10-Q that it collected substantially all of its refund for tariffs paid under the IEEPA, which the Supreme Court found invalid on February 20, 2026. The refund, with interest and related items, added $13 million to operating income in Q1 of fiscal 2027.
• August 13, 2026Tapestry reported fourth quarter results for fiscal 2026, which ended on June 27, 2026, and filed its Form 10-K.

Last earnings

November 5, 2026 (8-K on sec.gov)

Next earnings

Expected about February 4, 2027. The company has not confirmed the date.

• 10-QQuarterly report for the period ended Sep 26, 2026Filed November 5, 2026 · tpr-20260926
• 8-KEarnings releaseFiled November 5, 2026 · Press release and exhibits
• 10-KAnnual report for the period ended Jun 27, 2026Filed August 13, 2026 · tpr-20260627
• 8-KEarnings releaseFiled August 13, 2026 · Press release and exhibits
• 10-QQuarterly report for the period ended Mar 28, 2026Filed May 7, 2026 · tpr-20260328
• 8-KEarnings releaseFiled May 7, 2026 · Press release and exhibits
• 8-KChange of directors or officersFiled April 6, 2026 · Read it on sec.gov
• 10-QQuarterly report for the period ended Dec 27, 2025Filed February 5, 2026 · tpr-20251227
• 8-KEarnings releaseFiled February 5, 2026 · Press release and exhibits
• 8-KShareholder vote resultsFiled November 14, 2025 · Read it on sec.gov

Every filing on SEC EDGAR (CIK 1116132)

• Trade policy can raise costs. Most of the products that Tapestry sells in the US are imported from countries with tariffs. The 10-Q says that the outlook for future trade policy remains uncertain, and the guidance has a low-to-mid-20% tariff rate on US inventory receipts.
• Kate Spade is shrinking. Its sales fell 10% in Q1 of fiscal 2027 to $233 million, while Coach grew 16%.
• Growth depends on China. Greater China sales rose 43% to $385 million in Q1 of fiscal 2027, and the region is now a large part of the growth.
• Consumer demand can weaken. Tapestry sells discretionary products, and its guidance assumes no material worsening of inflation or consumer confidence.
• The conflict in the Middle East can raise transport and energy costs. Tapestry has no directly operated stores there, and the region was less than 1% of net sales in fiscal 2026.

At September 26, 2026, Tapestry had cash and cash equivalents of $599 million and short-term investments of $183 million, which is $782 million in all. It had current debt of $597 million and long-term debt of $1,960 million, which is $2,557 million. Read more

Yield at the current rate

1.4% (current annual rate, at today’s price)

Dividend yield

1.2% (last 12 months, at today’s price of $133.34)

Paid per share

$1.663 in the last 12 months (4 payments)

Current annual rate

$1.852 ($0.463 × 4 a year)

Payout ratio

22% of the last fiscal year’s earnings (the year that ended June 27, 2026)

Latest ex-dividend date

September 4, 2026, $0.463 per share

Dividends per share by year

From 2020 to 2025, the dividend grew by about 34.7% a year. From 2015 to 2025, the dividend grew by about 1.0% a year.

Source: company filings and market data, read on November 13, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.