Overview
- Tapestry’s Q1 revenue excluding Stuart Weitzman rose 16% to $1.7 billion, with Coach up about 22% to $1.4 billion.
- Adjusted EPS reached $1.38 versus $1.26 expected as adjusted operating income climbed 24% to $354 million and margins improved to 20.9%, with just over half of the margin gain tied to the Weitzman sale.
- The company raised its fiscal 2026 outlook to adjusted EPS of $5.45–$5.60 and 7%–8% revenue growth ex‑Weitzman, and it increased planned share repurchases to $1 billion.
- Tapestry added 2.2 million new shoppers in the quarter, about 35% from Gen Z, as marketing spend reached roughly 11% of sales.
- Management said tariff headwinds are being managed without broad price increases, aided by higher‑margin Tabby demand, while regional sales rose 26% in North America, 19% in China and 32% in Europe.