Tapestry Inc. reported record quarterly revenue and adjusted earnings per share, exceeding analyst expectations. The luxury fashion conglomerate saw sales growth across most regions, driven by strong performance in the U.S. and international markets. The company raised its full-year earnings outlook, citing strong business performance and share repurchases.
While net income slipped to 3.7 percent to $310.4 million, or $1.38 a diluted share, adjusted earnings per share came in at $2 — 25 cents ahead of the $1.75 analysts forecast, according to Yahoo Finance.
And revenues for the three months ended Dec. 28 rose 5 percent to $2.2 billion, ahead of the $2.11 billion analysts projected.Coach, Moncler, Saint Laurent Rise, Miu Miu Remains Top Spot on Lyst Hottest Brands RankingSales in the U.S., the company’s home base and biggest market, grew 4 percent to $1.5 billion. Outside of Japan, which saw sales slip 5 percent, the company posted gains around the world. “During the important holiday season, we meaningfully advanced our growth agenda, bringing innovation and craftsmanship to consumers around the world,” said Joanne Crevoiserat, chief executive officer, in a statement. “Our success is clearly reflected in the accelerated top- and bottom-line gains we achieved, resulting in record quarterly revenue and adjusted earnings per share. Further, we raised our outlook for the year, harnessing our position of strength to deliver superior results, while making strategic investments to extend our competitive advantages and power durable growth. We remain confident in Tapestry’s bright future and the compelling opportunity for continued, significant value creation.” For the full year, Tapestry is now expecting earnings per share to grow by 13 percent to 14 percent to a range of $4.85 to $4.90, up significantly from the $4.50 to the $4.55 previously forecast. Most of that increase, 17 cents worth, came from outperformance in the business, but another 10 cents from share repurchases while 8 cents came from a tax benefit. This fiscal year, Tapestry expects to spend $2 billion in total to buy back stock and pay dividends to shareholders. The company had been planning to give shareholders something different, but its $8.5 billion deal to buy Michael Kors parent Capri Holdings was held up by antitrust regulators and ultimately dropped in November. Sheer Dressing Takes Over Grammys 2025: Madison Beer's Lacy Details, Bianca Censori's Dramatic Opacity and More Red Carpet Looks. We use vendors that may also process your information to help provide our services. // This site is protected by reCAPTCHA Enterprise and the Google. We use vendors that may also process your information to help provide our services. // This site is protected by reCAPTCHA Enterprise and the GoogleWWD and Women's Wear Daily are part of Penske Media Corporation. © 2025 Fairchild Publishing, LLC. All Rights Reserved.
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