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. announces validation of its emissions reduction targets by the Science Based Targets Initiative (SBTi), aligning with global climate goals. The company sets ambitious targets to reduce GHG emissions across all scopes by significant percentages by 2030 and achieve net-zero emissions by 2050. Tapestry is among the first in the fashion industry to have validated emissions reduction targets specific to the FLAG sector. This validation follows the company's commitment to the SBTi's Business Ambition for 1.5⁰C. Tapestry's corporate responsibility strategy, The Fabric of Change, focuses on sustainability, product quality, and community upliftment.
Tapestry, Inc. (NYSE: TPR) delivered Q3 earnings ahead of expectations with a focus on customer relationships, global growth, omni-channel experiences, and fashion innovation. The company reported strong financial results, including robust operating and free cash flow, gross margin expansion, and maintained EPS outlook for Fiscal Year 2024. The acquisition of Capri Holdings is expected to bring significant benefits and synergies. Tapestry continues to focus on sustainable growth and shareholder value.
Tapestry has been named one of America's Best Employers for Diversity by Forbes for the seventh consecutive year. This recognition highlights the organization's commitment to fostering a diverse and inclusive work environment.
Tapestry, Inc. partners with the New York Fashion Tech Lab for the fourth consecutive year, supporting women-led B2B retail tech start-ups. The Lab is a community-driven program fostering collaboration and innovation at the intersection of fashion, retail, and technology. Tapestry aims to stay at the forefront of tech in the fashion industry, promoting diversity and embracing responsibility.
Tapestry's Stuart Weitzman partners with Mercado Global for their Spring 2024 Collection, featuring traditional artisanal handcrafted fabrics in modern footwear design. The collaboration celebrates cultural significance, empowers women artisans in Guatemala, and promotes ethical production methods in the fashion industry.
Tapestry, Inc. prioritizes style and sustainability in every item created by Coach, Kate Spade New York, and Stuart Weitzman brands. The company ensures each product fits personal style, occasion, weather, and sustainability needs. Sustainability is a core tenet of Tapestry's approach to fashion.
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