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. (NYSE: TPR) is frequently in the news as a global house of accessories and lifestyle brands that unites Coach and kate spade new york. News coverage about Tapestry often reflects its brand performance, strategic growth agenda, corporate responsibility initiatives and capital allocation decisions, giving investors and followers insight into how the company manages its portfolio and engages consumers.
Recent announcements highlight Tapestry’s fiscal results, including record quarterly and annual revenue, updates on margins and earnings, and details on its direct-to-consumer performance across regions. These releases often discuss progress on the company’s Amplify growth strategy, which focuses on building emotional connections with consumers, fueling fashion innovation and product excellence, delivering compelling experiences to drive global growth and igniting the power of its people.
Tapestry news also covers major corporate actions and partnerships. Examples include the completion of the sale of the Stuart Weitzman brand to Caleres, the authorization of a multi-billion-dollar share repurchase program, and updates on dividend policies and capital return plans. Corporate responsibility stories feature the publication of Tapestry’s Corporate Responsibility Report, progress toward renewable electricity goals and initiatives to strengthen global leather supply chains.
Another important stream of news involves sustainability and innovation partnerships, such as Tapestry’s long-term agreement with Pivot Energy to purchase Renewable Energy Credits from Illinois community solar projects and its expanded investment and supply agreement with Gen Phoenix for recycled leather fiber materials. Together, these items provide a view into how Tapestry approaches growth, brand-building, sustainability and shareholder value. For ongoing context, readers can follow earnings releases, Investor Day updates, ESG milestones and strategic transactions related to TPR.
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Tapestry, Inc. emphasizes the importance of its employees in its 2022 Corporate Responsibility Report. The company aims to enhance Equity, Inclusion, and Diversity (EI&D) through a strategy grounded in their core values. Key principles include attracting top talent, fostering an inclusive culture, nurturing community vibrancy, and fulfilling marketplace responsibilities. To this end, Tapestry has set 2025 goals focused on increasing diversity within leadership teams, improving inclusion index scores, promoting internal career progression, and establishing standardized global benefits for self-care and family leave.
On March 15, 2023, Coach launched the "In My Tabby" campaign, celebrating personal stories through the Tabby bag. Featuring Lil Nas X, Camila Mendes, Kōki, and Wu Jinyan, the campaign focuses on self-expression and identity evolution. Directed by Charlotte Wales, it emphasizes emotional connections over traditional brand-centric storytelling. Coach aims to engage younger audiences and redefine fashion as a platform for human stories. The campaign will include pop-ups and a 'Made to Order Tabby' service, allowing customization. The initiative aligns with Coach's commitment to inspire creativity and courage in self-expression.
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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.
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