The earnings call highlighted Tapestry's strong financial performance, particularly at Coach, with record earnings per share and increased guidance for the year. Despite challenges in Greater China and revenue declines in North America and at Kate Spade, the company demonstrated resilience through digital growth and customer acquisition. The overall sentiment is positive given the significant achievements and strategic outlook.

Company Guidance

During the Tapestry earnings call for Q1 2025, the company reported strong performance metrics, leading to an upward revision of its full-year guidance. Tapestry achieved a record first-quarter gross margin with a 280 basis points increase and delivered double-digit earnings per share growth, surpassing expectations. Notably, Coach's revenue increased by 2% at constant currency, with a 330 basis points expansion in gross margin. Tapestry's international revenue saw a 2% gain at constant currency, driven by a 27% increase in Europe, while Greater China experienced a 5% decline. North American revenue decreased by 1% year-over-year, primarily due to a planned reduction in wholesale. The company also acquired approximately 1.4 million new customers in North America, with a strong representation of Gen Z and millennials. Tapestry's digital sales grew by high single digits, making up over 25% of total revenue, while brick-and-mortar sales declined slightly. With these results, Tapestry raised its fiscal 2025 outlook, now expecting revenue to exceed $6.75 billion, with operating margin expansion of over 50 basis points and EPS guidance increased to $4.50 to $4.55, indicating mid-single-digit growth.

Record Earnings Per Share

Tapestry generated record earnings per share, exceeding expectations and increasing at a double-digit pace compared to the prior year.

Strong Performance at Coach

Coach achieved 2% constant currency revenue gains at exceptional margins, with 330 basis points of gross margin expansion and a 90 basis point lift in operating margin.

Digital Growth

Digital revenue grew at a high single-digit rate versus the prior year and represented over 25% of total revenue at accretive margins.

Gross Margin Expansion

Achieved a record first quarter gross margin, delivering a 280 basis point expansion versus the prior year.

Increased Guidance

Raised fiscal 2025 outlook, expecting revenue of over $6.75 billion and EPS of $4.50 to $4.55, representing mid-single-digit growth compared to last year.

Successful Customer Acquisition

Acquired approximately 1.4 million new customers in North America, with over half being Gen Z and millennials.

Strong Performance in Europe

European revenue grew 27% above last year, driven by increased local consumer spend and strong new customer acquisition.

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Tapestry (DE:COY) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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DE:COY Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 06, 2025	2025 (Q2)	1.67 / -	1.574	―	―	―
Nov 07, 2024	2025 (Q1)	0.92 / 0.98	0.898	9.68% (+0.09)
Aug 15, 2024	2024 (Q4)	0.85 / 0.89	0.917	-3.16% (-0.03)
May 09, 2024	2024 (Q3)	0.66 / 0.78	0.753	3.85% (+0.03)
Feb 08, 2024	2024 (Q2)	1.42 / 1.57	1.313	19.85% (+0.26)
Nov 09, 2023	2024 (Q1)	0.87 / 0.90	0.763	17.72% (+0.14)
Aug 17, 2023	2023 (Q4)	0.93 / 0.92	0.753	21.79% (+0.16)
May 11, 2023	2023 (Q3)	0.58 / 0.75	0.492	52.94% (+0.26)
Feb 09, 2023	2023 (Q2)	1.23 / 1.31	1.284	2.26% (+0.03)
Nov 10, 2022	2023 (Q1)	0.73 / 0.76	0.792	-3.66% (-0.03)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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DE:COY Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 07, 2024	€46.21	€47.34	+2.44%
Aug 15, 2024	€33.97	€33.18	-2.33%
May 09, 2024	€35.37	€35.01	-1.01%
Feb 08, 2024	€36.30	€38.63	+6.42%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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