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Dec 27, 2025
Tapestry Q2 2026 Earnings Report
Tapestry reported record quarterly revenue, operating profit, and EPS, exceeding expectations, driven by strong performance across brands and geographies.
Key Takeaways
Tapestry, Inc. announced strong fiscal second quarter 2026 results, with revenue reaching $2.5 billion, a 14% increase year-over-year. The company achieved record operating profit and EPS, with GAAP diluted EPS up 94% to $2.68 and non-GAAP diluted EPS up 34% to $2.69. This performance was driven by robust growth at the Coach brand and significant operating margin expansion.
Achieved record quarterly revenue of $2.5 billion, a 14% increase versus prior year.
Achieved pro forma revenue growth of 18%, led by a 25% gain at the Coach brand.
Drove operating margin expansion of 620 basis points on a GAAP basis and 390 basis points on a non-GAAP basis.
Raised fiscal year 2026 revenue, operating margin, EPS, and free cash flow outlook.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Tapestry is raising its Fiscal 2026 outlook, anticipating revenue over $7.75 billion, operating margin expansion, and adjusted free cash flow of approximately $1.5 billion.
Positive Outlook
- Revenue of over $7.75 billion, representing approximately 11% growth versus prior year on a reported basis.
- Pro forma revenue expected to grow approximately 15% on a nominal basis and increase 14% in constant currency.
- Operating margin expansion of approximately 180 basis points versus prior year.
- Earnings per diluted share of $6.40 to $6.45, representing growth over 25% compared to prior year.
- Adjusted free cash flow in the area of $1.5 billion, exceeding prior guidance of $1.3 billion.
Challenges Ahead
- Assumes no material worsening of inflationary pressures or consumer confidence.
- Excludes one-time costs associated with the sale of Stuart Weitzman, expected to be immaterial to operating profit and earnings per diluted share.
- Excludes non-recurring costs associated with the Company's organizational efficiency efforts.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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