Tapestry, Inc.
- Open
- 145.38
- Day high
- 146.64
- Day low
- 143.47
- Prev close
- 146.38
- Volume
- 526K
- Mkt cap
- $29.3B
- P/E (TTM)
- 44.2
- EPS (TTM)
- $3.28
- P/B
- 42.9
- P/S
- 3.7
- Yield
- 0.55%
- Per share
- $0.80
- ▼Insiders net selling -$6.4M over the last 3 months (0 open-market buys, 3 sales)
- 🏛Institutions mixed (13F)
Tapestry, Inc. (TPR) is a Consumer Cyclical company listed on NYSE. The stock is up 68% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 3 sales (SEC Form 4).
Tapestry, Inc. (TPR) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 6 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
TPR earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $1.30 | $1.66 | +27.7% | $1.9B | +7.5% |
| Feb 5, 2026 | $2.20 | $2.69 | +22.3% | $2.5B | +41.8% |
| Nov 6, 2025 | $1.26 | $1.38 | +9.5% | $1.7B | +4.0% |
| Aug 14, 2025 | $1.02 | $1.04 | +2.0% | $1.7B | +2.5% |
| May 8, 2025 | $0.88 | $1.03 | +17.2% | $1.6B | +3.8% |
| Feb 6, 2025 | $1.70 | $2.00 | +17.6% | $2.2B | +43.3% |
| Nov 7, 2024 | $0.95 | $1.02 | +7.4% | $1.5B | +2.4% |
| Aug 15, 2024 | $0.88 | $0.92 | +4.5% | $1.6B | +0.8% |
| May 9, 2024 | $0.68 | $0.81 | +18.6% | $1.5B | -1.1% |
| Feb 8, 2024 | $1.46 | $1.63 | +11.6% | $2.1B | +1.5% |
| Nov 9, 2023 | $0.90 | $0.93 | +3.3% | $1.5B | -1.6% |
| Aug 17, 2023 | $0.97 | $0.95 | -2.1% | $1.6B | -2.2% |
TPR insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 27, 2026 | Kahn Toddofficer: CEO and Brand President, Coach | Tax | 37,729 | $140.02 |
| May 27, 2026 | Kahn Toddofficer: CEO and Brand President, Coach | Sell | 19,557 | $140.02 |
| May 27, 2026 | Kahn Toddofficer: CEO and Brand President, Coach | Option | 57,286 | $42.31 |
| May 14, 2026 | Crevoiserat Joanne C.officer: Chief Executive Officer | Tax | 17,244 | $132.90 |
| May 14, 2026 | Crevoiserat Joanne C.officer: Chief Executive Officer | Option | 30,291 | $15.83 |
| May 14, 2026 | Crevoiserat Joanne C.officer: Chief Executive Officer | Option | 35,770 | $20.97 |
| May 14, 2026 | Crevoiserat Joanne C.officer: Chief Executive Officer | Sell | 14,729 | $132.88 |
| May 14, 2026 | Crevoiserat Joanne C.officer: Chief Executive Officer | Sell | 13,047 | $132.90 |
| May 14, 2026 | Crevoiserat Joanne C.officer: Chief Executive Officer | Tax | 21,041 | $132.88 |
| Apr 6, 2026 | Madrigal Matthewdirector | Grant | 1,392 | $143.70 |
| Mar 4, 2026 | Dadlani Maneshofficer: VP, Controller and PAO | Sell | 975 | $156.05 |
| Feb 19, 2026 | Crevoiserat Joanne C.officer: Chief Executive Officer | Sell | 20,372 | $154.99 |
| Feb 19, 2026 | Crevoiserat Joanne C.officer: Chief Executive Officer | Tax | 20,647 | $154.78 |
| Feb 19, 2026 | Crevoiserat Joanne C.officer: Chief Executive Officer | Tax | 16,992 | $154.79 |
| Feb 19, 2026 | Crevoiserat Joanne C.officer: Chief Executive Officer | Option | 35,770 | $20.97 |
Source: TPR SEC Form 4 filings, latest May 27, 2026. For informational purposes only — not investment advice.
See the full TPR insider & 13F page →Tapestry, Inc. company profile
Overview
Tapestry, Inc. (NYSE:TPR) is a luxury accessories and lifestyle company founded in 1941 and headquartered in New York. Originally known as Coach, Inc., the company transformed into a multi-brand luxury conglomerate and rebranded as Tapestry in 2017. The company operates three primary luxury brands: Coach, Kate Spade, and Stuart Weitzman, serving customers across the United States, Japan, Greater China, and international markets through a network of over 1,400 retail stores and digital platforms.
Business
Tapestry operates in the luxury accessories market, focusing primarily on handbags, leather goods, footwear, and lifestyle products. The luxury accessories industry represents a segment of the broader luxury goods market where consumers purchase premium-priced items that serve both functional and aspirational purposes. These products typically command higher margins due to brand prestige, craftsmanship, and emotional connection with consumers. The company's business is organized around three distinct luxury brands, each targeting different market segments: 1. Coach represents approximately 75% of total revenue and serves as the company's flagship brand. Coach specializes in leather handbags, accessories, and lifestyle products positioned as "expressive luxury." The brand targets millennials and Gen Z consumers with products like the popular Tabby bag family and New York Collection. Coach operates through both full-price and outlet channels, with the outlet business providing accessible luxury at lower price points. 2. Kate Spade contributes roughly 20% of revenue and focuses on colorful, optimistic lifestyle products including handbags, accessories, and ready-to-wear apparel. The brand targets younger consumers with a more playful aesthetic compared to Coach's classic luxury positioning. Kate Spade has been undergoing a strategic reset to improve brand building and reduce promotional activity. 3. Stuart Weitzman accounts for approximately 5% of revenue and specializes in women's luxury footwear. The brand is known for its craftsmanship in boots, pumps, and seasonal footwear collections. However, the company announced plans to sell Stuart Weitzman to Caleres, indicating a strategic focus on the handbag and accessories categories. The luxury accessories market differs from other retail categories because purchases are often driven by emotional and aspirational factors rather than purely functional needs. Handbags, in particular, serve as both practical items and fashion statements that communicate personal style and social status.
Revenue model
Tapestry generates revenue primarily through direct product sales across multiple channels. The company operates through three main revenue streams: company-operated retail stores, e-commerce platforms, and wholesale distribution to third-party retailers. The direct-to-consumer model represents the majority of sales and includes both physical retail stores and digital channels. This approach allows Tapestry to maintain higher gross margins (typically 75-80% for Coach) by eliminating middleman markups and controlling the customer experience. The company operates full-price boutiques in premium locations as well as outlet stores that offer previous seasons' merchandise at discounted prices. E-commerce sales have become increasingly important, reaching $2 billion annually and representing significant growth potential. Digital channels allow the company to reach customers globally with lower overhead costs compared to physical retail. Wholesale operations involve selling products to department stores, specialty retailers, and international distributors. While wholesale typically generates lower margins, it provides broader market reach and helps build brand awareness. The company also generates revenue through licensing agreements where it allows third parties to produce and sell products under its brand names in categories like eyewear, fragrances, and home goods in exchange for royalty payments. Several factors influence Tapestry's profitability margins. Positive margin drivers include the company's pricing power in luxury segments, operational efficiency improvements through supply chain optimization, and the shift toward higher-margin direct-to-consumer sales. The luxury positioning allows for premium pricing, with Coach handbags typically ranging from $200 in outlet channels to over $1,000 for signature pieces. Margin pressures come from increased marketing investments (now 8% of sales versus 4% historically), raw material cost inflation particularly for leather goods, and competitive pressures in key markets like China. Currency fluctuations also impact margins given the company's global operations, and potential tariffs on imported goods could affect profitability since much production occurs in Asia.
Competitive moat
Tapestry's competitive moat stems primarily from its brand equity and emotional consumer connections, particularly with the Coach brand which has operated for over 80 years. Luxury brands benefit from what economists call "Veblen goods" characteristics, where higher prices can actually increase demand due to the status signaling and aspirational value these products provide to consumers. The company's customer acquisition and retention capabilities represent a significant competitive advantage. Coach has successfully acquired 900,000 new customers in recent quarters, with 70% being Gen Z and millennial consumers. This younger demographic acquisition is crucial since these consumers typically develop long-term brand loyalty and have higher lifetime value potential. Operational advantages include the company's agile supply chain, global distribution network of over 1,400 stores, and sophisticated data analytics capabilities that enable personalized marketing and inventory optimization. The company's ability to maintain gross margins near 80% for Coach demonstrates strong pricing power relative to competitors. However, Tapestry's moat faces several potential vulnerabilities. The luxury accessories market is highly competitive with established players like LVMH, Kering, and emerging direct-to-consumer brands that can quickly gain market share through social media marketing. The Kate Spade brand has struggled with execution and brand positioning, indicating that luxury brand management requires consistent investment and strategic focus. Disruption risks include changing consumer preferences toward experiences over material goods, particularly among younger consumers, and the rise of rental and resale markets for luxury goods. Additionally, economic downturns can significantly impact luxury spending, as these purchases are often discretionary and postponable. The concentration of sales in handbags (a single product category) also creates vulnerability if consumer preferences shift toward other accessories or fashion items. Overall, Tapestry maintains a moderate but defensible moat through brand strength and operational capabilities, though this requires ongoing investment in marketing, product innovation, and customer experience to maintain relevance with evolving consumer preferences.
Risks & safety
Tapestry demonstrates a strong financial position with solid liquidity and manageable debt levels, though recent acquisition activities have impacted some metrics. • Cash and Liquidity: $1.04 billion in cash and short-term investments as of Q3 2025, providing substantial operating flexibility. Free cash flow generation of $113-475 million per quarter demonstrates consistent cash generation capability. • Debt and Solvency: Debt-to-equity ratio of 2.75 appears elevated but includes acquisition-related financing. Current ratio of 1.76 and quick ratio of 1.22 indicate adequate short-term liquidity. The company maintains investment-grade credit rating and has committed to preserving this status. • Valuation Metrics: Trading at P/E ratio of 17.9x and EV/EBITDA of 14.3x based on recent quarters. Price-to-book ratio of 9.7x reflects premium valuation typical of luxury brands but suggests limited margin of safety from a traditional value perspective. • Profitability and Cash Flow: Strong EBITDA margins around 19-22% and consistent free cash flow generation of over $1 billion annually. Return on equity of 13.6% demonstrates efficient capital utilization. • Other Considerations: The pending Capri acquisition (if completed) would significantly increase debt levels and integration risks. However, management has demonstrated discipline in capital allocation with over $2 billion returned to shareholders through dividends and buybacks.
Recent development
Tapestry has undergone significant strategic evolution over the past few years, transitioning from a single-brand company to a multi-brand luxury platform while simultaneously pursuing major acquisitions. The most significant recent development is the proposed acquisition of Capri Holdings (which owns Michael Kors, Versace, and Jimmy Choo), announced in 2023. This $8.5 billion transaction would create a luxury conglomerate with over $12 billion in annual revenue, though regulatory approval remains pending. Management views this as transformational for expanding customer reach across different luxury segments and geographies. Coach brand transformation has been the primary growth driver, with the company successfully repositioning Coach toward "expressive luxury" targeting Gen Z and millennial consumers. Key product innovations include the Tabby bag family, which has become a signature platform, and the New York Collection featuring Brooklyn and Empire bags. The brand has achieved record revenue exceeding $5 billion annually while maintaining gross margins near 80%. Kate Spade strategic reset began in earnest with the appointment of new CEO Eva Erdmann in 2024. The turnaround strategy focuses on reducing promotional activity, streamlining the handbag assortment by 15%, and rebuilding brand awareness through emotional storytelling. While revenue has declined during this transition, the brand has maintained margin expansion. Digital transformation has been accelerated, with e-commerce sales reaching $2 billion annually (triple pre-pandemic levels) and representing a growing portion of total revenue. The company has invested heavily in data analytics, personalized marketing, and omnichannel customer experiences. Geographic expansion continues with particular focus on China and emerging markets. Despite near-term challenges in Greater China, management remains committed to long-term growth in these regions, viewing them as critical for accessing the expanding global middle class interested in luxury goods. The company has also undertaken operational efficiency initiatives, including reducing SKU counts by 40-50%, optimizing the supply chain, and increasing marketing spend from 4% to 8% of sales to build brand heat and customer acquisition.
TPR company profile · for informational purposes only — not investment advice.
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