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
Coach has unveiled its global Fall 2021 campaign featuring a star-studded cast including Jennifer Lopez, Michael B. Jordan, and Jeremy Lin. The campaign emphasizes friendship and community, showcasing the new Fall collection with bags like the Tate, Soft Tabby, Hitch Backpack, and the iconic Rogue. Creative Director Stuart Vevers highlights themes of connection and joy, inspired by outdoor gatherings and real communities worldwide. The campaign expresses optimism and spontaneity, resonating with the brand's legacy of craftsmanship and inclusivity, as part of Tapestry, Inc. (TPR).
Tapestry, Inc. (NYSE: TPR) announced that CEO Joanne Crevoiserat will present at the Bernstein Strategic Decisions Conference on June 2nd at 11:00 a.m. ET. The presentation will be webcast live to the public and archived for five business days. Tapestry is a New York-based luxury lifestyle brand house, including Coach, Kate Spade, and Stuart Weitzman, known for its focus on creativity, inclusivity, and authenticity. For more information and to access the presentation, visit www.tapestry.com/investors.
Tapestry, Inc. (NYSE: TPR) reported strong fiscal Q3 2021 results with a 19% increase in net sales to $1.27 billion, driven by robust digital growth and a 175% revenue surge in Mainland China compared to FY20. Gross margin improved to 71.6% from 57.4% year-over-year, supported by discipline in promotions and effective expense management. Operating income rose to $117 million, with significant progress in customer engagement and a 700,000 increase in new e-commerce customers. Outlook remains optimistic, expecting a mid-teens revenue growth for FY21.
Tapestry, Inc. (NYSE: TPR) has appointed Scott A. Roe as Chief Financial Officer, effective June 1, 2021. Roe has a 25-year tenure at VF Corporation, where he excelled as CFO and significantly influenced finance and corporate development. He aims to enhance Tapestry's strategy and operational performance in a transforming consumer landscape. Alongside this change, Andrea Shaw Resnick transitions to Chief Communications Officer, while Christina Colone is promoted to Global Head of Investor Relations. These leadership updates indicate a focused effort on strategic growth.
Tapestry, Inc. (NYSE: TPR) will hold a conference call on May 6, 2021, at 8:00 a.m. (ET) to discuss its third-quarter results. The results will be released earlier that morning. Investors can participate by dialing 1-877-510-8087 or 1-862-298-9015, using Conference ID 5689959. A replay will be available for five business days starting at noon on the same day. Tapestry is a modern luxury lifestyle brand company that includes Coach, Kate Spade, and Stuart Weitzman, focusing on consumer-led luxury and innovation.
Tapestry, Inc. (NYSE: TPR) has appointed Todd Kahn as Chief Executive Officer and Brand President of Coach, effective immediately. Kahn has been with the company since 2008, most recently serving as Interim CEO since July 2020. Joanne Crevoiserat, CEO of Tapestry, expressed confidence in Kahn’s leadership, noting his ability to deliver strong business results during the pandemic and attract a younger customer base. Kahn aims to implement a consumer-centric approach to drive innovation and profitability, capitalizing on Coach's storied history and team talent.
Kate Spade New York, a brand of Tapestry (NYSE: TPR), announced a new creative structure to enhance consumer focus and innovation. Key roles such as SVP, Brand Concept & Strategy and Head of Product Design will be established, alongside existing leaders to ensure brand consistency. CEO Liz Fraser noted progress in refocusing the brand's core collection. Kristen Naiman will transition to SVP, Brand Concept & Strategy on April 1, 2021, while Nicola Glass will depart on the same date. The company is actively searching for a new Head of Product Design.
Tapestry, Inc. (NYSE: TPR), a prominent luxury accessories and lifestyle brand house, announced that CEO Joanne Crevoiserat will present at the BofA Securities Consumer & Retail Technology Virtual Conference on March 10 at 9:30 a.m. ET. The presentation will be accessible via webcast for the public and archived for five business days. Tapestry's brands include Coach, Kate Spade, and Stuart Weitzman, focusing on innovation and authentic customer experiences. For more details, visit www.tapestry.com/investors.
On Feb. 23, 2021, Coach unveiled its Fall 2021 collection, Coach Forever Season Two, through a virtual presentation on Instagram. The collection, crafted by Stuart Vevers, features layered silhouettes, oversized shearling coats, and collaborations with Schott NYC. The presentation, blending fashion and pop culture, includes appearances from celebrities like Jennifer Lopez and Michael B. Jordan. Additionally, the Coach Foundation has donated to support restaurant workers in NYC impacted by COVID-19.
Tapestry, Inc. (NYSE: TPR) announced its commitment to the Black in Fashion Council's Active Allyship Pledge, aimed at advancing Black individuals in the fashion industry. CEO Joanne Crevoiserat highlighted the company's goal to enhance diversity within its leadership teams. Over the next three years, Tapestry will collaborate with BIFC Executive board members for guidance. Additionally, initiatives include partnering with HBCUs for talent sourcing fairs and launching a scholarship program through the Coach Foundation to support HBCU students. Tapestry has also been recognized for its diversity efforts.
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