Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
Fiscal 2026 was defined by Tapestry's completed divestiture of Stuart Weitzman and the introduction of its 2028 Amplify growth strategy, refocusing the portfolio on Coach and Kate Spade. Management credited Coach's direct-to-consumer strength across North America, Greater China, and Europe for the year's revenue growth, while Kate Spade continued to struggle with lower DTC sales. The results were heavily shaped by one-time items: a $98.3 million IEEPA tariff refund recognized in fiscal 2026 versus a prior-year $854.8 million Kate Spade impairment that depressed comparisons. The central tension remains Coach's momentum against Kate Spade's inability to return to GAAP profitability.
Revenue
$8B
+14.17% YoY
EPS (Diluted)
$7.27
+786.59% YoY
Gross Margin
77.8%
+2.4 pts YoY
Operating Income
$1.91B
+361.30% YoY
Filed · Source: SEC EDGAR 10-K filing · Audit Opinion: Unqualified (Source: Report of Independent Registered Public Accounting Firm)
Next TPR earnings expected
Source: SEC XBRL
Tapestry (TPR) reported FY2026 revenue of $8B, up 14.2% year over year. Operating margin was 23.9%, up 18.0 points from 5.9% a year earlier. Operating cash flow was $1.98B, up 62.6% year over year.
Last 4 quarters: 4 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026 | 1.32 | 1.30 | Beat +1.8% |
| Mar 2026 | 1.66 | 1.32 | Beat +26.0% |
| Dec 2025 | 2.69 | 2.25 | Beat +19.8% |
| Sep 2025 | 1.38 | 1.28 | Beat +8.0% |
3 reported segments · SEC XBRL
Segment revenue totals $8B, which is the $8B of consolidated revenue on the income statement.
Profit above is reported as operating income, the measure TPR itself discloses in this filing. Each company chooses its own measure here, so these margins are not comparable with another company's.
Compiled by AI from 10-K Item 7 of this filing
In the first quarter of fiscal 2026, Tapestry introduced its 2028 growth strategy, Amplify, built on building consumer connections, fueling fashion innovation, driving global growth, and igniting its people.
Source: 10-K Item 7 MD&A
Tapestry completed the sale of the Stuart Weitzman Business on August 4, 2025 for a final aggregate purchase price of $109.1 million, after which its reportable segments became Coach and Kate Spade.
Source: 10-K Item 7 MD&A
The company paid approximately $117 million in IEEPA tariffs; after the Supreme Court ruling, it determined receipt of a $114.7 million refund was probable and recognized $96.2 million as a reduction to cost of sales, $9.5 million as accrued liabilities, and $9.0 million as a reduction to inventory tariffs.
Source: 10-K Item 7 MD&A
Foreign currency fluctuations increased net sales by $58.7 million but negatively impacted gross margin and operating margin by approximately 10 basis points each.
Source: 10-K Item 7 MD&A
Excluding items affecting comparability, Coach's gross margin improved 70 basis points on net pricing improvements partially offset by higher tariffs, while Kate Spade's gross margin declined 370 basis points due to higher tariffs and unfavorable channel mix partially offset by net pricing.
Source: 10-K Item 7 MD&A
Compiled by AI from 10-K Item 1A of this filing · 2 high, 3 medium, 0 low
Most of Tapestry's products sold in the U.S. are imported from countries subject to announced tariffs, and the recent Supreme Court ruling did not affect Section 122, Section 301, or Section 338 tariffs. Trade policies remain unstable and could change without warning, creating significant uncertainty for suppliers, consumers, and the company.
Source: 10-K Item 1A
Tapestry relies on manufacturers primarily in Vietnam, Cambodia, the Philippines, India, and Bangladesh, exposing it to port congestion, labor disputes, raw material cost fluctuations, and potential detention of goods by customs authorities. Disruptions could interrupt shipments and harm operations.
Source: 10-K Item 1A
With approximately 41.3% of fiscal 2026 net sales from outside the United States, Tapestry is exposed to political or economic instability, changes in U.S.-China relations, shifts in Chinese consumer behavior, and geopolitical conflicts such as the Middle East situation.
Source: 10-K Item 1A
Tapestry's success depends on anticipating and responding quickly to changing consumer preferences and fashion trends, including digital and social media engagement. Missteps in product quality, design, marketing, or excessive discounting could tarnish brand image and reduce sales.
Source: 10-K Item 1A
The successful implementation of the 2028 Amplify growth strategy is key to long-term success, but there is no assurance that the company will sustain efforts or achieve intended outcomes. Failure to execute the four pillars could materially adversely affect business and financial condition.
Source: 10-K Item 1A
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $B | 8.00 $B | 7.01 $B | +14.17% |
Cost of Revenue $B | 1.78 $B | 1.72 $B | +3.10% |
Gross Profit $B | 6.23 $B | 5.29 $B | +17.77% |
Operating Income $B | 1.91 $B | 0.42 $B | +361.30% |
Net Income $B | 1.53 $B | 0.18 $B | +733.90% |
EPS (Basic) $ | 7.49 $ | 0.84 $ | +791.67% |
EPS (Diluted) $ | 7.27 $ | 0.82 $ | +786.59% |
SG&A Expense $B | 4.31 $B | 4.02 $B | +7.35% |
Answers draw on this SEC filing and the data on this page
TPR reported strong financial performance in Q3 FY2026 with significant increases in revenue, net income, and EPS, driven by effective cost management and operational efficiency.
TPR reported strong financial performance in Q2 FY2026 with significant increases in revenue, net income, and EPS, driven by improved operating efficiency and cost management.
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