Tapestry beats fiscal first-quarter expectations and raises its full-year outlook
Tapestry reported fiscal 2027 first-quarter net sales of $1,894 million for the quarter ended September 26, 2026, up 11% on a reported basis and 12% on a pro forma basis. GAAP diluted EPS increased 38% to $1.76, while non-GAAP diluted EPS rose 32% to $1.82. Coach revenue grew 16%, offsetting a 10% decline at Kate Spade. Tapestry raised its fiscal 2027 outlook to $8.25-$8.35 EPS and $8.5B-$8.6B revenue.
Why it matters
The higher outlook increases Tapestry's expected fiscal 2027 earnings and revenue base, while its capital return outlook rises to $2.0 billion. CEO Joanne Crevoiserat said the results increased the company's confidence in the durability of its growth.
Key facts
- 1Fiscal 2027 first-quarter net sales were $1,894 million, up 11% on a reported basis and 12% on a pro forma basis from the prior year. sec.gov
- 2GAAP diluted EPS was $1.76, up 38%, and non-GAAP diluted EPS was $1.82, up 32%. sec.gov
- 3Coach revenue increased 16% to $1,661 million, while Kate Spade revenue declined 10% to $233 million. sec.gov
- 4Fiscal 2027 guidance was raised to $8.25-$8.35 EPS and $8.5B-$8.6B revenue. rttnews.com
- 5Tapestry returned approximately $700 million to shareholders and increased its fiscal 2027 capital return outlook to $2.0 billion. sec.gov
Open questions
- reports fiscal 2027 EPS guidance of $7.80-$7.90, which conflicts with the $8.25-$8.35 guidance reported by.
- reports 2.6 million new consumers in the quarter, while reports over 2.1 million for the same period.
Summary written by AlphAI AI Desk from 19 of 19 sources. Not investment advice. Figures are as stated by the linked sources.