Form 10-Q · Quarterly report
Tapestry, Inc. 10-Q, filed Nov 5, 2026
- Filed
- CIK
- 0001116132
- Accession no.
- 0001116132-26-000031
Summary
Tapestry, Inc. reported first-quarter fiscal 2027 net sales of $1.894 billion, up 11.1% from a year earlier, with net income of $360 million and diluted earnings per share of $1.76. The company also collected substantially all of the roughly $117 million in IEEPA tariff refunds ordered after the U.S. Supreme Court invalidated those tariffs, producing a $13 million benefit to operating income, and said future trade policy remains uncertain.
Key points
- First-quarter fiscal 2027 net sales were $1.89 billion, up 11.1% from $1.705 billion a year earlier, with net income of $360 million up from $275 million.
- The Coach segment posted $590 million in operating income while Kate Spade reported a $20 million operating loss.
- Non-GAAP diluted earnings per share were $1.82, excluding $15 million in distribution network optimization costs tied to transitioning from an Ohio fulfillment center to a third-party facility in Pennsylvania.
- Tapestry said it continues to monitor trade policy after Section 122 global tariffs were invalidated and new Section 301 forced-labor-related tariffs of 10% to 12.5% were announced.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
ITEM 2. MANAGEMENT'S DISCUSSION OVERVIEW Tapestry, Inc. is a global house of iconic accessories and lifestyle brands uniting the magic of Coach and Kate Spade New York. Together, we stretch what’s possible – advancing brands further than they could go alone, expanding their reach to new geographies and generations. Inspired by our consumers, we create experiences and products that build lasting brand love and elevate everyday life. The Company has two reportable segments: •Coach - Includes global sales of primarily Coach brand products to customers through our DTC, wholesale and licensing businesses. …
An excerpt of the text as filed with the SEC, cut for length.
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