Tapestry Inc
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+ FollowMarket Cap$25.84B
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Earnings Call Q1 2027
November 5, 2026 - AI Summary
Strong Q1 outperformance + raised guidance (macro confidence built on execution)
- Revenue +12% pro forma constant currency to $1.9B, operating margin +230 bps to >23%, EPS +32% to $1.82.
- Company states growth is “ahead of expectations” and raises full-year outlook for revenue, operating margin, and EPS, implying confidence in durability of demand and margin structure.
Coach is the growth engine; strategy working globally (esp. Gen Z + leather goods)
- Coach Q1 constant currency revenue +16%, continued margin/profitability expansion.
- 2.1M+ new customers to Coach brands; Gen Z ~40% of new customers (per Coach commentary).
- Growth driven by leather goods: handbag AUR growing low double digits and units growing low single digits; company intentionally deemphasized promotions below $200 (planned unit decline below $200), positioning for long-term value/mix.
- Geographic strength: North America up 7%, Greater China +41%, Europe +27%, Japan +5% (return to growth).
- Management confidence: North America mid-single-digit Coach growth embedded for Q2 and full year; cites recent track record and drivers like TNT families (Tabby/New York/Teri) plus footwear momentum.
Kate Spade is stabilizing but remains a headwind (revenue down; losses expected to persist)
- Kate Spade revenue -10% (consistent with guidance) with gross margin +190 bps expansion, reflecting profitability improvements even as top line declines.
- Company is focusing on creative execution (new Exec Creative Director), marketing relevance, and omnichannel conversion improvements (light-touch store renovations; adding more locations).
- Full-year outlook continues to assume high single-digit decline at Kate Spade and a modest operating loss at the brand (i.e., investors should expect ongoing drag).
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$59.77
54.9% downside
Current Fair Value
54.9% downsideOvervalued by 54.9% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $25.84 Billion |
|---|---|
| Enterprise Value | $29.51 Billion |
| Annual dividend | $1.66 |
| Dividend yield | 1.26% |
| Earnings per Share | $7.49 |
| Beta | 1.46 |
| Outstanding Shares | 199,300,000 |
Return
| Return on Equity | 468.87% |
|---|---|
| Return on Assets | 24.38% |
| Return on Invested Capital | 45.83% |
Valuation & Multiples
| P/E Ratio | 16.59 |
|---|---|
| PEG | 53.52 |
| Price to Sales | 3.23 |
| Price to Book Ratio | 132.4 |
| Enterprise Value to Revenue | 3.6 |
| Enterprise Value to EBIT | 14.62 |
| Enterprise Value to Net Income | 18 |
| Total Debt to Enterprise | 0.14 |
| Debt to Equity | 12.42 |
Revenue Sources
No data
Last Earnings Call
Report Date
November 5, 2026
EPS
$1.82
Est. $1.56Revenue
$1.89 B
Est. $1.85 BNext Earnings Call
Expected Date
February 4, 2027
EPS Estimate
$3.07
Consensus analyst estimateRevenue Estimate
$2.67 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 1.11, the ratio is above 1, so institutions hold more puts than calls. That is a more cautious stance.
| Put/Call Ratio | 1.1072▼ 40.80% |
|---|---|
| Total Calls | 449,600▼ 51.99% |
| Total Puts | 497,800▼ 64.91% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 66.27%▼ 32.07% |
|---|---|
| Total Invested | $15.57B▼ 46.97% |
| Investors Holding | 874▼ 272.00% |
About Tapestry Inc
20,800 employees
CEO: Jide Zeitlin
Tapestry, Inc. is a New York-based house of modern luxury lifestyle brands. The Company's portfolio includes Coach, Kate Spade and Stuart Weitzman. The Company and its brands are founded upon a creative and consumer-led view of luxury th...