$TPR · TAPESTRY, INC.
Tapestry reported Q1 FY2027 (ended September 26, 2026) net sales of $1.894B, up 11.1% from $1.705B a year earlier. Gross profit rose 14.4% to $1.488B (78.6% margin), operating income grew 29.3% to $424M, and net income climbed 31% to $360M. Diluted EPS was $1.76 versus $1.28, with basic EPS of $1.81 versus $1.32.
- Net sales +11.1% YoY to $1.894B
- Diluted EPS $1.76, up 38% from $1.28
- Gross margin expanded to 78.6% from 76.3%
- Operating income +29.3% to $424M
- Kate Spade segment posted a $20M operating loss
Extended-hours last trade $145.01, +15.70% vs regular close, signaling a strong positive reaction to the beat.
A double-digit sales gain and 38% EPS growth with margin expansion show Tapestry's core Coach brand driving outsized profit growth.
Coach's strength contrasts with Kate Spade's $20M operating loss, reflecting a two-speed portfolio in accessible luxury.
Tariff and trade-policy exposure, currency fluctuations, and consumer-preference shifts are cited as key risks to results.