Tapestry earnings
MyStockButler's October 2026 analysis: Tapestry’s next results are expected on November 5, 2026. Watch Coach’s underlying sales, Kate Spade’s decline and inventory.
What has Tapestry guided for fiscal 2027?
Management promises another year of profitable growth led by Coach, while Kate Spade remains in repair. Its August 13 outlook calls for fiscal 2027 revenue of $8.4–$8.5 billion and adjusted diluted earnings per share of $7.80–$7.90. Adjusted EPS is management’s profit-per-share view after selected unusual items. GAAP EPS is the standardized accounting scorecard. Tapestry cannot yet reconcile the forecast fully to GAAP because future adjustments are not known.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| Revenue | Fiscal 2027 | 8,400.0 | 8,500.0 | Aug 13, 2026 |
| Earnings per diluted share | Fiscal 2027 | 7.80 | 7.90 | Aug 13, 2026 |
| Adjusted free cash flow | Fiscal 2027 | 1,700.0 | 1,700.0 | Aug 13, 2026 |
| Operating margin | Fiscal 2027 | 24.0% | 24.0% | Aug 13, 2026 |
Did Tapestry keep its past promises?
The five-year record earns a mixed score of 3/5. All five initial EPS hurdles were met, but revenue finished below its initial target three times. Lower tax rates also helped earnings in four of the five years, so the next question is how much growth comes from demand rather than margins, taxes or buybacks.
| What management forecast | Checked | Above | Within | Below |
|---|---|---|---|---|
| Revenue | 5 years | 2 | 0 | 3 |
| Earnings per diluted share | 5 years | 3 | 2 | 0 |
| Tax rate | 5 years | 1 | 0 | 4 |
What this means. The revenue growth forecast may look better because that year has an extra week of sales.
How have Tapestry’s revenue and profit changed over the last eight quarters?
Revenue reached $1,876.6 million in the June 2026 quarter, up 8.9%. Coach grew approximately 15% while Kate Spade fell approximately 7%, so the brand imbalance persisted. Excluding currency and Stuart Weitzman, growth was 11%.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,876.6 | 1,920.6 | 2,502.4 | 1,704.6 | 1,723.2 | 1,584.6 | 2,195.4 | 1,507.5 |
| Operating income | 442.3 | 427.5 | 716.4 | 328.2 | -583.5 | 253.7 | 492.8 | 252.0 |
| Net income | 347.8 | 343.8 | 561.3 | 274.8 | -517.1 | 203.3 | 310.4 | 186.6 |
| EPS, diluted | 1.68 | 1.65 | 2.68 | 1.28 | -2.49 | 0.95 | 1.38 | 0.79 |
What this means. The large changes in profit do not all come from normal business because some quarters include unusual items such as a tariff refund or a major write-down.
What should I watch in Tapestry’s next results?
The next results must show that growth and cash generation survive a larger investment programme. Tapestry expects to report fiscal 2027’s first quarter on November 5, 2026. Compare adjusted EPS with management’s $1.55 forecast, but focus more on Coach’s underlying sales, Kate Spade’s decline and inventory. Management expects first-quarter gross-margin improvement of 120 basis points, which is useful only if demand remains healthy.