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, 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.
Tapestry, Inc. (NYSE: TPR) reported Q2 results for the fiscal year ending December 26, 2020, with net sales of $1.69 billion, a 7% decline from $1.82 billion last year. Despite this, the company achieved a gross margin of 69.6%, up from 66.6%, due to reduced promotional activity. Operating income rose to $389 million, marking a 7% increase year-over-year. E-commerce saw triple-digit growth, representing one-third of global sales, with strong performance in China. Tapestry anticipates high-single-digit revenue growth for the fiscal year.
On January 22, 2021, Coach launched Coach Conversations, a monthly YouTube series focused on culture and creativity. The first episode features Jennifer Lopez and Jay Shetty discussing themes like purpose and self-trust. Coach's Creative Director, Stuart Vevers, emphasizes a community-driven dialogue in fashion. Future episodes will include Michael B. Jordan, coinciding with significant cultural moments. Coach aims to inspire discussions on personal values and support within the community.
Tapestry, Inc. (NYSE: TPR) will hold a conference call on February 4, 2021, at 7:30 a.m. (ET) to discuss its second-quarter results. The call follows a press release with the financial results earlier that day. Interested parties can join by dialing 1-877-510-8087 or 1-862-298-9015 with Conference ID 4990276. An audio webcast will also be available at www.tapestry.com/investors. A telephone replay will be offered for five business days post-event. Tapestry is known for luxury brands including Coach, Kate Spade, and Stuart Weitzman.
Coach has launched its global advertising campaign, "Coach It Forward," for the Spring 2021 collection. The campaign emphasizes positivity, collective action, and gratitude, encouraging customers to acknowledge those who uplift them. Featuring celebrities like Jennifer Lopez and Michael B. Jordan, it highlights personal dedications and appreciation. The initiative includes a live Zoom event showcasing messages of gratitude, aiming to connect communities worldwide and inspire optimism. Coach, known for its luxury accessories, is a brand under Tapestry, Inc., which trades on the NYSE as TPR.
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