Overview

• Tapestry reported Q4 adjusted EPS of $1.04 and record revenue of $1.72 billion, beating analyst forecasts thanks to 14% growth in Coach sales.
• The company took an $855 million impairment on Kate Spade assets, leading to a net loss of $517 million in the quarter.
• Higher U.S. duties will cost about $160 million this fiscal year, reducing per-share earnings by roughly $0.60 and softening full-year guidance to $5.30–$5.45.
• Shares plunged roughly 15–17% after the tariff guidance, reversing a year-to-date rally as investors recalibrated Tapestry’s outlook.
• Tapestry outlined ongoing mitigation steps, including shifting its manufacturing footprint, resetting Kate Spade’s strategy and pursuing efficiency levers in advance of its investor day.