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Sep 27
Tapestry Q1 2026 Earnings Report
Tapestry reported strong revenue and EPS growth, surpassing expectations and raising its full-year outlook.
Key Takeaways
Tapestry delivered a record first quarter with revenue of $1.70B and GAAP EPS of $1.28, driven by double-digit growth at Coach. The company raised its full-year revenue and earnings guidance.
Revenue grew 13% YoY to $1.70B, with pro forma revenue at $1.69B excluding Stuart Weitzman.
GAAP EPS rose 61% YoY to $1.28, with non-GAAP EPS at $1.38.
Coach revenue grew 22% YoY, leading the performance.
Full-year revenue and earnings guidance were raised, with expected EPS between $5.45 and $5.60.
Tapestry
Tapestry
Tapestry Revenue by Segment
Tapestry Revenue by Geographic Location
Revenue by Segment
Coach Revenue
CapyFin.comKate Spade Revenue
CapyFin.comStuart Weitzman Revenue
CapyFin.comRevenue by Geographic Location
North America Revenue
CapyFin.comGreater China Revenue
CapyFin.comJapan Revenue
CapyFin.comOther Asia Revenue
CapyFin.comEurope Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
Tapestry raised its FY26 outlook, now expecting $7.3B in revenue and GAAP EPS between $5.45 and $5.60.
Positive Outlook
- FY26 revenue expected to reach $7.3B, above prior guidance.
- EPS guidance raised to $5.45–$5.60, from previous $5.30–$5.45.
- Operating margin expected to expand by ~50bps YoY.
- Foreign exchange expected to be a 70bps tailwind.
- Adjusted free cash flow expected to reach $1.3B.
Challenges Ahead
- Tariff and duty impact expected to be a 230bps headwind on margin.
- Results exclude Stuart Weitzman contributions post-divestiture.
- Guidance assumes no material worsening of inflation.
- Organizational efficiency efforts may incur additional costs.
- Uncertainty remains over global consumer confidence trends.
Revenue & Expenses
Visualization of income flow from segment revenue to net income