Welcome to our dedicated page for Tapestry news (Ticker: TPR), a resource for investors and traders seeking the latest updates and insights on Tapestry stock.
Tapestry, Inc. (symbol: TPR) is a renowned global house of brands that unites the magic of Coach, Kate Spade New York, and Stuart Weitzman. The company excels in producing high-quality fashion and accessories, operating around 1,400 stores worldwide, including North America, Europe, and Asia. Each brand under the Tapestry umbrella is unique: Coach is celebrated for its affordable luxury leather products, Kate Spade is known for its vibrant patterns and graphics, and Stuart Weitzman specializes in women’s footwear. In fiscal 2023, Coach accounted for 75% of sales, Kate Spade contributed 21%, and Stuart Weitzman added 4%.
In a recent strategic move, Tapestry agreed to acquire Capri Holdings Limited, adding Michael Kors, Versace, and Jimmy Choo to its brand portfolio. This acquisition is expected to enhance Tapestry's market presence and product diversity. The company is also known for its commitment to social responsibility, making significant strides in sustainability and community support.
For instance, the Coach (Re)Loved & Repair Workshop achieved Gold-level TRUE Zero Waste Certification, reflecting its dedication to environmental sustainability. This initiative has successfully diverted over 90% of waste from landfills through recycling and reuse, among other methods. Tapestry also supports various philanthropic efforts, such as the Coach Foundation, which aims to expand educational opportunities through the
Tapestry (NYSE: TPR) and Capri Holdings have mutually agreed to terminate their merger agreement, citing uncertainty in the legal process and unlikely resolution by February 2025. In response, Tapestry announced a new $2 billion share repurchase authorization, including a planned Accelerated Share Repurchase program. The company will maintain its annual dividend rate of $1.40 per share in Fiscal 2025 and redeem $6.1 billion in acquisition-related senior notes. Tapestry agreed to reimburse Capri's transaction expenses of approximately $45 million. The company reaffirmed its Fiscal 2025 outlook and emphasized its commitment to organic growth and shareholder value creation.
Tapestry Inc. (NYSE: TPR) reported strong fiscal 2025 first quarter results, outperforming expectations with revenue of $1.51 billion, in line with the previous year. The company achieved record non-GAAP diluted EPS of $1.02 and a significant gross margin expansion of 280 basis points. Coach brand showed growth while Kate Spade saw a 7% decline. The company demonstrated strong international performance, particularly in Europe (+27%), despite a slight decrease in APAC (-2%). Based on these results, Tapestry raised its fiscal 2025 outlook, now expecting revenue over $6.75 billion and EPS of $4.50 to $4.55.
Coach's SVP of Global Marketing and Sustainability, Joon Silverstein, delivered a TED Talk about Coachtopia's innovative approach to waste management in fashion. The talk focused on how Coachtopia, launched in 2023, aims to advance a circular fashion system through their Made Circular™ principles. Using the Alter/Ego collection as an example, Silverstein discussed their journey toward circularity, emphasizing progress over perfection. The initiative focuses on lowering carbon footprints compared to conventional manufacturing methods and collaborating with industry partners to eliminate waste and reduce emissions across their supply chain.
kate spade new york and The Boris Lawrence Henson Foundation (BLHF) announced the expansion of their SheCare Wellness Pods program to Bennett College in Greensboro, North Carolina. This marks the third installation following successful launches at Alabama State University and Hampton University in 2023. The new pod, opened on October 22, 2024, will uniquely serve both Bennett College students and neighboring North Carolina A&T State University students, as well as local women's community groups. The location was chosen following student protests demanding improved mental health services. The pod features a custom mural by local artist Alyse Watt and Bennett College students, designed to promote wellness and women's strength.
Tapestry highlights employee development through the story of Samantha Lanzerotti, Senior Regional Visual Manager at kate spade new york. During her 11-year tenure, Lanzerotti has expanded her role and explored different business areas. The company emphasizes its commitment to talent development and providing equal growth opportunities across the enterprise, encouraging employees to explore roles beyond their current functions.
Sandeep Seth, Chief Marketing Officer of Coach and Chief Growth Officer of Tapestry, has been recognized in the Campaign US CMO 50. Seth earned this distinction for his consumer-centric approach and success in developing purpose-led marketing strategies that effectively engage Gen Z consumers. His recognition highlights his expertise in global brand-building and innovative marketing approaches that have strengthened Tapestry's brand positioning.
Tapestry (NYSE: TPR) has responded to a U.S. District Court ruling that granted the FTC's request for a preliminary injunction regarding its proposed acquisition of Capri Holdings (NYSE: CPRI). The company expressed disappointment with the decision, stating it believes the ruling is incorrect on both legal and factual grounds. Tapestry, which owns Coach, kate spade new york, and Stuart Weitzman brands, argues that the industry is highly competitive, dynamic, and fragmented. The company has announced its intention to appeal the decision in accordance with the merger agreement terms.
Tapestry (NYSE: TPR) has scheduled its fiscal 2025 first quarter earnings conference call for Thursday, November 7, 2024, at 8:00 a.m. ET. The company will release its financial results via press release earlier that morning.
Investors can access the call by dialing 1-866-847-4217 or 1-203-518-9845 with Conference ID 4306173, or listen to the audio webcast on the company's investor relations website. A telephone replay will be available for five business days starting at 12:00 noon ET on November 7th.
Jackee de Lagarde, VP of Global Licensing at Kate Spade New York, has been named to Crain's New York Business Notable Black Leaders list. De Lagarde, who joined the brand in 2014, leads the team responsible for the brand's licensing program. Under her leadership, the team has launched numerous categories in apparel, accessories, home, and pet products. Notable achievements include executing five licensing agreements in her first year and successful Starbucks collaborations in Asia during 2020 and 2022. She also served as co-chair of Black Alliance, Tapestry's first Employee Business Resource Group, contributing to the company's diversity initiatives.
Tapestry celebrates its Great Place To Work Certified status on Certification Nation Day. This recognition is based on employee feedback about various aspects of the company, including leadership, purpose, and culture. Tapestry prides itself on cultivating an environment that is both warm and rigorous, with work that is challenging and fun.
The company emphasizes a culture led by both head and heart, where each brand maintains its uniqueness while sharing a commitment to innovation and authenticity. Tapestry aims to:
- Connect with customers
- Empower communities
- Make the fashion industry more sustainable
- Build an equitable, inclusive, and diverse company
Tapestry expresses gratitude to its team members for this achievement and invites interested parties to learn more about their certification status.
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