Every material Form 8-K Tapestry has filed with the SEC since November 07, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Tapestry, Inc. reported its fiscal first quarter results ended September 26, 2026, delivering $1.9 billion in revenue and increasing GAAP diluted EPS by 38% to $1.76. Driven by strong brand performance, particularly at Coach, the company raised its full-year fiscal 2027 revenue and earnings outlook while increasing its capital return program to $2.0 billion.
Delivered net sales of $1.89 billion in the first quarter of fiscal 2027, an increase of 11% reported and 12% pro forma versus the prior year.
Achieved GAAP diluted EPS of $1.76 and non-GAAP diluted EPS of $1.82 for the quarter ended September 26, 2026.
Raised fiscal year 2027 guidance to revenue of $8.5 billion to $8.6 billion and diluted EPS of $8.25 to $8.35.
Returned approximately $700 million to shareholders in the quarter through dividends and share repurchases, and updated full-year capital return outlook to $2.0 billion.
Tapestry reported fiscal 2026 fourth-quarter revenue of $1.88 billion, up 9% reported, and non-GAAP diluted EPS of $1.32, up 28%. The company also raised its quarterly dividend 16% to $0.4625 per share and issued a fiscal 2027 outlook calling for revenue of $8.4 billion to $8.5 billion and EPS of $7.80 to $7.90.
Q4 GAAP diluted EPS was $1.68, versus a loss of $(2.49) a year earlier; certain items added $0.36 to Q4 EPS, including IEEPA tariff refunds.
Full-year fiscal 2026 net sales were $8.00 billion, up 14%, and non-GAAP diluted EPS was $7.05, up 38%.
The Board approved a quarterly dividend of $0.4625 per share, payable September 21, 2026, to holders of record on September 4, 2026.
Tapestry expects to repurchase $1.35 billion of common stock in fiscal 2027 and first-quarter fiscal 2027 EPS of approximately $1.55.
Tapestry reported fiscal third-quarter 2026 net sales of $1.92 billion, up 21% from a year earlier, and GAAP diluted EPS of $1.65, up 74%. The company raised its fiscal 2026 revenue, operating margin, EPS and cash flow outlook, and lifted its planned shareholder returns to $1.6 billion, which matters for shareholders because it signals stronger expected earnings and more capital returned.
Q3 net sales $1.92 billion, up 21% (19% constant currency); Coach brand up 31%
GAAP diluted EPS $1.65 versus $0.95 a year earlier; GAAP operating margin 22.3% versus 16.0%
Fiscal 2026 EPS outlook raised to about $6.95 from $6.40 to $6.45 (non-GAAP)
Planned fiscal 2026 buybacks raised to about $1.3 billion from $1.2 billion; quarterly dividend $0.40 payable June 22, 2026
Tapestry's board increased its size from ten to eleven and elected Matt Madrigal, Chief Technology Officer of Pinterest, as a director effective April 6, 2026. The filing describes his compensation as a director, which includes restricted stock units, but does not indicate any change to Tapestry's operations or financial results.
Board expanded from ten to eleven members; Matt Madrigal elected effective April 6, 2026
Annual cash retainer of $100,000 plus an annual equity grant with a grant date fair value of $200,000, paid in restricted stock units at the annual meeting
Initial equity award with a grant date fair value of $200,000 on April 6, 2026, in restricted stock units vesting on the one-year anniversary
Tapestry reported fiscal second-quarter 2026 revenue of $2.5 billion, up 14% from a year earlier, with GAAP diluted EPS of $2.68 versus $1.38. The company raised its fiscal 2026 revenue, operating margin, EPS, and free cash flow outlook and now plans to return $1.5 billion to shareholders, up from $1.3 billion.
Q2 net sales were $2.5 billion, up 14%; pro forma growth excluding Stuart Weitzman was 18%, led by Coach up 25%
GAAP diluted EPS was $2.68 versus $1.38 a year ago; non-GAAP diluted EPS was $2.69 versus $2.00
Fiscal 2026 EPS guidance raised to $6.40 to $6.45 from $5.45 to $5.60; revenue now expected above $7.75 billion versus prior $7.3 billion
Share repurchases for fiscal 2026 now expected at $1.2 billion, up from $1.0 billion
Tapestry reported fiscal first-quarter 2026 results for the period ended September 27, 2025, with net sales of $1.70 billion, up 13% from a year earlier, and GAAP diluted earnings per share of $1.28, up from $0.79. The company raised its fiscal 2026 earnings per share outlook to $5.45 to $5.60 from $5.30 to $5.45 and now expects to buy back about $1.0 billion of stock, up from $800 million, which matters to shareholders because both revenue and profit improved and the company is returning more cash to them.
Net sales $1.70 billion, up 13%; up 16% on a pro forma basis excluding Stuart Weitzman
GAAP diluted EPS $1.28 vs. $0.79 a year earlier; non-GAAP diluted EPS $1.38 vs. $1.02
Fiscal 2026 EPS outlook raised to $5.45 to $5.60; revenue outlook of about $7.3 billion
Quarterly dividend of $0.40 per share payable December 22, 2025; buybacks now about $1.0 billion
Tapestry, Inc. disclosed that board member John P. (JP) Bilbrey told the company on September 16, 2025, that he will not stand for re-election at the annual meeting set for November 13, 2025. The filing says the decision was not due to any disagreement with the company, and he will remain on the board until that meeting.
Bilbrey notified Tapestry on September 16, 2025, of his decision.
He will not stand for re-election at the annual stockholders meeting on November 13, 2025.
The filing states the decision was not due to any disagreement with the company on any matter.
Bilbrey will continue serving on the Board until the Annual Meeting.
Tapestry's Human Resources Committee approved a one-time special equity grant to CEO Joanne Crevoiserat with a target grant date fair value of $15 million, under the 2018 Stock Incentive Plan. The award is split equally between performance-based restricted stock units tied to a non-GAAP earnings per share target for fiscal 2028 and time-based restricted stock units, both vesting on the third anniversary of the grant date. The filing says the grant aims to support retention and succession planning, which adds a large one-time pay cost tied to future performance.
Special grant has a target grant date fair value of $15 million, approved August 18, 2025
Half is performance-based RSUs tied to a target non-GAAP EPS for fiscal year 2028; half is time-based RSUs
Both portions vest on the third anniversary of the grant date; forfeiture applies on retirement or voluntary termination without Good Reason
Grant is described as one-time and not part of regular annual compensation
Tapestry reported fiscal fourth-quarter net sales of $1.72 billion, up 8%, and a GAAP net loss of $517 million, driven largely by an $855 million impairment on the Kate Spade brand. Non-GAAP earnings per diluted share rose to $1.04 from $0.92, and the company initiated fiscal 2026 non-GAAP EPS guidance of $5.30 to $5.45 and raised its dividend 14%.
Q4 net sales were $1.72 billion, up 8% on both reported and constant currency bases; GAAP net loss was $517 million, or $2.49 per diluted share, versus GAAP net income of $159 million a year earlier.
Q4 non-GAAP EPS was $1.04 versus $0.92; the quarter included an $855 million impairment on Kate Spade indefinite-lived brand intangible and goodwill.
Fiscal 2026 outlook calls for revenue approaching $7.2 billion and non-GAAP EPS of $5.30 to $5.45, including a negative tariff and duty impact of over $0.60 per share.
Quarterly dividend raised 14% to $0.40 per share, an anticipated $1.60 annual rate; the company expects $800 million in share repurchases in fiscal 2026.
Tapestry entered into a new $2 billion unsecured revolving credit facility dated May 22, 2025, with Bank of America as administrative agent, replacing its existing facility from May 11, 2022. The new facility matures May 22, 2030 and can be increased by up to $750 million, giving the company longer-dated borrowing capacity on terms the filing describes as customary.
New $2 billion unsecured revolving credit facility, maturing May 22, 2030
Replaces the existing credit facility dated May 11, 2022
Commitments may be increased by up to $750 million, subject to conditions
Covenant requires a maximum 4.0 to 1.0 ratio of consolidated debt minus unrestricted cash above $300 million to consolidated EBITDAR
Tapestry reported third-quarter fiscal 2025 results for the period ended March 29, 2025, with net sales of $1.58 billion, up 7% from a year earlier, and non-GAAP diluted EPS of $1.03, up 27%. The company raised its fiscal 2025 outlook, now expecting EPS in the area of $5.00 versus prior guidance of $4.85 to $4.90, and revenue of about $6.95 billion. The raised outlook and the reaffirmed plan to return over $2 billion to shareholders in fiscal 2025 are the main points for shareholders.
Q3 net sales of $1.58 billion, up 7% (8% constant currency); Coach revenue rose 13%
Q3 GAAP diluted EPS was $0.95, up from $0.60; non-GAAP diluted EPS was $1.03, up from $0.81
Fiscal 2025 EPS outlook raised to about $5.00 from $4.85 to $4.90; revenue outlook about $6.95 billion
Pending sale of Stuart Weitzman expected to close in summer 2025; quarterly dividend of $0.35 per share payable June 23, 2025
Tapestry reported fiscal second-quarter 2025 net sales of $2.20 billion, up 5% from a year earlier, with non-GAAP diluted EPS of $2.00 versus $1.63 a year earlier. Reported diluted EPS was $1.38, slightly below $1.39 a year earlier, after a $120 million loss on debt extinguishment tied to the terminated Capri Holdings merger. The company raised its fiscal 2025 non-GAAP EPS outlook to $4.85 to $4.90 from $4.50 to $4.55, and expects to return more than $2 billion to shareholders this fiscal year.
Q2 net sales of $2.20 billion, up 5%; Coach sales rose 11% on a reported basis.
Non-GAAP diluted EPS of $2.00 versus $1.63 a year earlier; reported diluted EPS of $1.38 versus $1.39.
Fiscal 2025 non-GAAP EPS outlook raised to $4.85 to $4.90 from $4.50 to $4.55.
Reported net income of $310 million, including a $120 million loss on debt extinguishment tied to the terminated Capri Holdings merger.
Tapestry closed a $1.5 billion offering of senior unsecured notes on December 11, 2024, split evenly between $750 million of 5.100% notes due 2030 and $750 million of 5.500% notes due 2035. The company plans to use the proceeds, with cash on hand, to repay term loan and revolving credit borrowings that funded its accelerated share repurchases, and for general corporate purposes. The filing does not state Tapestry's total debt after the offering, and the indenture limits certain liens, sale and leaseback transactions, and mergers or asset sales.
$750 million of 5.100% senior unsecured notes due 2030 and $750 million of 5.500% senior unsecured notes due 2035 were issued on December 11, 2024
Interest is payable semi-annually on March 11 and September 11, beginning September 11, 2025
Proceeds plus cash on hand will repay term loan and revolving credit borrowings that funded accelerated share repurchases
The indenture with U.S. Bank Trust Company, National Association, as trustee, limits certain liens, sale and leaseback transactions, and mergers or asset sales
On November 21, 2024, Tapestry entered accelerated share repurchase agreements with Bank of America and Morgan Stanley to buy back up to $2.0 billion of its common stock. The company is funding the buyback with a new $750.0 million term loan, about $1.0 billion of revolving credit facility borrowings, and cash on hand, so the deal increases its debt. Final share count will depend on volume-weighted average prices during the ASR terms, with settlement no later than September 27, 2025.
Up to $2.0 billion of common stock to be repurchased under ASR agreements with Bank of America, N.A. and Morgan Stanley & Co. LLC.
Initial delivery of 28,363,766 shares expected on November 26, 2024, with a $2.0 billion payment to the dealers the same day.
New $750.0 million senior unsecured term loan matures six months after funding and bears interest at term SOFR plus 1.125%.
$800.0 million remains available under the share repurchase program authorized in May 2022; final settlement due no later than September 27, 2025.
Tapestry and Capri Holdings terminated their merger agreement under a Termination Agreement dated November 13, 2024, with no break fee according to the press release. Tapestry will reimburse Capri's expenses of $45,088,675 and redeem the senior notes issued to fund the deal, which the company says total $6.1 billion, at 101% of principal, and expects to record about $57.1 million in unamortized costs and a $61.1 million redemption premium in its second fiscal quarter of 2024. The board also authorized a new $2.0 billion share repurchase program, on top of $800 million remaining from a May 2022 authorization.
Merger agreement terminated effective immediately under a Termination Agreement dated November 13, 2024.
Tapestry to reimburse Capri expenses of $45,088,675 in cash on November 14, 2024.
Notes to be redeemed at 101% of principal on or about November 25, 2024, with about $57.1 million unamortized costs and a $61.1 million premium recognized in fiscal Q2 2024.
Board authorized a new $2.0 billion buyback; the fiscal 2025 outlook was reaffirmed and the annual dividend rate of $1.40 per share is expected to be maintained.
Tapestry reported fiscal first-quarter 2025 revenue of $1.51 billion, roughly flat year over year. Reported diluted EPS fell to $0.79 from $0.84, while non-GAAP diluted EPS rose to $1.02 from $0.93, after $0.23 per share of acquisition-related costs. The company raised its fiscal 2025 non-GAAP EPS outlook to $4.50 to $4.55 from $4.45 to $4.50.
Net sales were $1.51 billion, approximately flat versus the prior year on both reported and constant currency bases; Coach sales rose 1%.
Reported net income was $187 million, or $0.79 per diluted share, versus $195 million, or $0.84, a year earlier.
Non-GAAP diluted EPS was $1.02 versus $0.93; acquisition costs, mainly financing and professional fees tied to the proposed Capri Holdings acquisition, reduced EPS by $0.23.
Fiscal 2025 non-GAAP EPS guidance is $4.50 to $4.55; the quarterly dividend is $0.35 per share, payable December 23, 2024.
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