Tapestry Beats Q1 FY2027 Expectations & Raises Full-Year Outlook

Tapestry, Inc. (NYSE: TPR) Fiscal Q1 2027 Earnings Summary

On November 5, 2026, Tapestry, Inc. filed a Current Report on Form 8-K under Item 2.02 detailing financial results for its fiscal first quarter ended September 26, 2026.

Key Financial Highlights

• Net Sales: $1.894 billion, representing an 11% increase on a reported basis (12% pro forma) compared to $1.705 billion in the prior-year period. Revenue growth was led by a 16% increase at the Coach brand.
• Gross Margin: Expanded 230 basis points GAAP to 78.6% (non-GAAP gross margin expanded 220 basis points to 78.7%).
• Operating Income: Increased 29% to $424 million compared to $328 million in Q1 FY2026.
• Diluted EPS: GAAP EPS of $1.76, an increase of 38% year-over-year; non-GAAP EPS rose 32% to $1.82.
• Capital Returns: Returned approximately $700 million to shareholders during the quarter through dividends and share repurchases.

Outlook Updates

• Raised fiscal year 2027 guidance across revenue, operating margin, and earnings.
• Increased full-year fiscal 2027 capital return target to $2.0 billion, fueled by accelerated share repurchases.