Tapestry First-Quarter Sales Rise 11% to $1.89 Billion as Coach Grows 16%; Full-Year Outlook Raised
Tapestry, Inc. (NYSE: TPR), the New York-based house of the Coach and Kate Spade New York brands, reported results on November 5 for the fiscal first quarter ended September 26, 2026: net sales rose 11% year over year to $1.894 billion, up 12% on a pro forma basis excluding the divested Stuart Weitzman business, and the company raised its full-year outlook.
Gross profit was $1.488 billion with a gross margin of 78.6%, up 230 basis points, while operating income rose 29% to $424 million for a 22.4% operating margin. Diluted earnings per share were $1.76 on a reported basis, up 38%, and $1.82 on an adjusted basis, up 32% and ahead of the company's own expectations.
By brand, Coach supplied most of the growth, with revenue up 16% to $1.661 billion, including 30% growth internationally and handbag-led gains. Kate Spade revenue fell 10% to $233 million as the brand deliberately reduced promotional activity. By region, Greater China revenue reached $385 million, up 43% on a reported basis, North America rose 4% to $1.11 billion, and Europe rose 20% to $151 million. The company added 2.6 million new customers in the quarter, about 35% of them Gen Z.
Chief Executive Officer Joanne Crevoiserat said the first quarter marked a powerful start to the year, with revenue, margin and earnings growth ahead of expectations and strength around the world, and that the raised outlook reflects confidence in the durability of the growth.
For fiscal 2027, Tapestry now expects revenue of approximately $8.5 billion to $8.6 billion, up from $8.4 billion to $8.5 billion previously, operating margin expansion of about 100 basis points, and adjusted diluted earnings per share of $8.25 to $8.35, up from $7.80 to $7.90. The company also raised its planned share repurchases by $350 million to $1.7 billion and expects to return about $2.0 billion to shareholders this fiscal year; roughly $700 million was returned in the first quarter, and a quarterly dividend of $0.4625 per share was declared, payable December 21.
(Source: Tapestry, Inc)
Source: Tapestry, Inc
Published by GSM · USA (original Chinese edition)
Photo: 图：Tapestry 旗下品牌 Kate Spade New York 的门店（资料图）。照片：Paul Keleher，CC BY 2.0，经 Wikimedia Commons。 / Photo: A Kate Spade New York store, a Tapestry brand (file photo). Photo by Paul Keleher, CC BY 2.0, via Wikimedia Commons.
