Tapestry Inc - TPR STOCK NEWS

kate spade new york, known for its bold and vibrant designs, has been actively working on women's mental health since 2013, aiming to empower 100,000 women and girls globally by 2025. In 2021, the brand invested $3 million in mental health initiatives, partnering with 25 organizations. This year, kate spade renewed its collaboration with The Trevor Project, raising $157,275 through events and matching donations, supporting LGBTQ+ youth. Additionally, the brand continues to support women in Rwanda through local partnerships, contributing $177,000 to community development initiatives.

Stuart Weitzman, part of Tapestry, is focused on empowering women through partnerships and initiatives, as detailed in their 2022 Corporate Responsibility Report. In FY2022, they expanded their collaboration with Vital Voices to launch the Bold Moves Grant, supporting women leaders globally. Additionally, they introduced a course at Detroit's College for Creative Studies for students to design shoes, enhancing real-world experience. Efforts also include partnerships with non-profits InHerShoes and It Gets Better Project. During COVID-19, the China team volunteered over 1,100 hours aiding local communities.

Tapestry has launched Prouder Together, an Employee Resource Group for LGBTQIA+ employees and allies, dedicated to fostering an inclusive community and encouraging support within the workplace.

In a recent newsletter, Coach Store Manager Jesse DeBusk interviewed Curtlynn Gonzalez, a social media influencer and advocate for trans rights. Curtlynn shared her journey of coming out and transitioning, highlighting the importance of acceptance and support in the workplace.

She emphasized the challenges faced by transgender individuals, including microaggressions and misgendering, while also advocating for allyship and community support.

Tapestry, Inc. announced initiatives to support Black and brown talent in fashion, emphasizing the importance of talent, culture, community, and marketplace. The Tapestry Foundation awarded over $1M since 2021 to enhance educational access for marginalized students, with $12.5 million in grants and donations in FY2022. The company signed onto the Mitigate Racial Bias in Retail Charter and is implementing training for store employees to create inclusive environments. Additionally, Tapestry's Black Alliance ERG is promoting equity and inclusion through community partnerships and grants, spotlighting Black professionals during Black History Month.

Kate Spade has partnered with ThredUp to launch a new resale program named Pre-Loved, set to start in February. This initiative allows customers to purchase secondhand items directly from Kate Spade's website and earn shopping credits by reselling gently used products. The partnership lasts for one year, with a possibility of renewal. Additionally, Kate Spade aims to assist 100,000 women with mental health support by 2025, having already impacted 66,000 women. This program is part of the brand's ongoing commitment to wellness and sustainability.

Tapestry, Inc. (NYSE: TPR) has announced a quarterly cash dividend of $0.30 per common share. This dividend will be paid on March 27, 2023 to shareholders on record as of March 10, 2023. Tapestry encompasses renowned brands such as Coach, Kate Spade, and Stuart Weitzman, emphasizing their commitment to innovation and sustainability. The company aims to enhance the fashion industry and support community empowerment through its diverse brands, which each offer unique products and customer experiences.

Tapestry, Inc. is enhancing workplace diversity through its Employee Business Resource Groups (EBRGs), which facilitate inclusivity and mentorship. At the recent EBRG Fair, Tapestry highlighted the importance of these groups in creating a dynamic work environment. The company has established a global EI&D Champion Network that includes five ERGs and two task forces, fostering engagement among employees. Since launching its first EBRGs in 2020, membership has surged by 63%. These initiatives underscore Tapestry's commitment to building deep connections among employees of varying backgrounds and generations.

Tapestry, Inc. (NYSE: TPR) reported fiscal Q2 2023 revenue of $2.03 billion, down 5% year-over-year, with strong earnings per diluted share at $1.36, outperforming expectations. Operational improvements led to a gross margin increase to 68.6%, despite a 20% revenue decline in Greater China due to COVID-19 impacts. The company remains on track to return $1 billion to shareholders in FY 2023 through share repurchases and increased dividends. Tapestry raised its fiscal year earnings outlook, projecting earnings per diluted share of $3.70 to $3.75, despite anticipated currency headwinds. The company emphasizes continued focus on sustainable growth and customer engagement.

DETROIT, MI / ACCESSWIRE / February 2, 2023 / Tapestry, Inc. has partnered with Pensole Lewis College to launch the Coach Dream It Real x PLC Masterclass. This six-week virtual program aims to support aspiring accessories and footwear designers from underserved communities by offering tuition-free education. The course runs from March 6 to April 14, with final presentations on April 21 at Coach's headquarters. Participants will gain insights into design processes and sustainability, culminating in a Coach Certificate of Completion. This initiative aligns with Coach Foundation's mission to provide scholarships and opportunities, significantly impacting the fashion design landscape.