Tapestry posts record Q4 revenue of $1.7 billion but a $517 million GAAP net loss
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%.
Key points
- 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.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:10 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 14, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.