Stuart Weitzman news and archive

Coach parent Tapestry raises FY outlook on strong Q3

Luxury fashion group Tapestry has upped its full-year guidance after outperforming its own expectations in the third quarter of the year. The New York-based group, which owns brands Coach, Kate Spade, and Stuart Weitzman, reported a 5 percent increase in net sales to 1.51 billion dollars in the three months to April 1. The company saw strong...

Business

Tapestry appoints Alan Lau to its board of directors

Tapestry, Inc. has appointed Alan Lau to its board of directors. The appointment of Lau to the board brings the membership to eleven. Alan Lau is the chief business officer for Animoca Brands since July 2022. In this role, Lau oversees and provides support to the company’s more than 340 portfolio companies and leads M&A and business development....

BusinessFeatured

Coach owner Tapestry ups FY profit outlook

Luxury fashion group Tapestry has upped its full-year profit guidance after reporting record earnings in the second quarter. The New York-based group, which owns brands Coach, Kate Spade, and Stuart Weitzman, said it now expects earnings per diluted share (EPS) of between 3.70 dollars and 3.75 dollars, up from previous guidance of between 3.60...

BusinessFeatured

Coach parent Tapestry expects currency headwinds to impact FY23 results

For its first quarter Tapestry, Inc., parent to Coach, Kate Spade, and Stuart Weitzman, reported net sales of 1.51 billion dollars, an increase of approximately 2 percent. The company said, excluding a 370 basis point headwind from currency due to the appreciation of the U.S. dollar revenue rose over 5 percent versus last year. Gross profit...

Business

Tapestry sets 8 billion dollars revenue goal by 2025

Tapestry, parent company of Coach, Kate Spade and Stuart Weitzman plans to achieve revenue of 8 billion dollars by fiscal year 2025, representing a three-year CAGR of 6 percent to 7 percent. The company expects to reach earnings per diluted share of over 5 dollars, for a low-to-mid-teens three-year CAGR. Commenting on the plan, Joanne...

Fashion

Stuart Weitzman launches capsule collection with Disney

Luxury footwear brand Stuart Weitzman is launching a collaboration with Disney, consisting of a capsule shoe collection. The Tapestry-owned company said its first global partnership with the animator platform will merge both brands’ most iconic silhouettes — the world-renowned characters, Disney’s Mickey Mouse and Minnie Mouse, and the designer’...

BusinessFeatured

Tapestry's FY22 revenues grow 15 percent, digital sales cross 2 billion dollars

Tapestry, Inc. reported fourth quarter revenue of 1.6 billion dollars, representing 7 percent growth over FY19 pre-pandemic levels. Compared to last year, net sales increased approximately 1 percent on a reported basis. For the fiscal year 2022, Tapestry achieved 6.7 billion dollars in revenue, representing an increase of over 15 percent...

BusinessFeatured

Tapestry’s Q3 sales improve, cuts FY22 profit outlook

Net sales at Tapestry, Inc. totalled 1.44 billion dollars for the third quarter, a 13 percent increase compared to the same quarter in the prior year. The company is modifying its fiscal 2022 outlook due to an estimated headwind of 25 cents to 30 cents resulting from incremental Covid-related pressure in China and an anticipated negative impact...

BusinessFeatured

Tapestry sales increase above pre-pandemic levels, raises outlook

Tapestry reported net sales of 2.14 billion dollars for the second quarter compared to 1.69 billion dollars in the prior year, representing a 27 percent increase. The company said in a release that sales rose 18 percent compared to pre-pandemic levels. Commenting on the second quarter trading, Joanne Crevoiserat, chief executive officer of...

BusinessFeatured

Coach parent Tapestry posts strong Q1, raises outlook

Tapestry Increased revenue by 26 percent to 1.48 billion dollars compared to last year; while compared to pre-pandemic levels, revenue grew 9 percent, representing continued sequential topline improvement fueled by improvements across digital, stores and wholesale. Commenting on the first quarter results, Joanne Crevoiserat, chief executive...

BusinessFeatured

Coach parent Tapestry reports 126 percent growth in Q4 sales

Fourth quarter net sales at Tapestry totaled 1.62 billion dollars, representing a 126 percent increase. On a 13-week basis, the company’s net sales increased 113 percent versus prior year and rose 1 percent as compared to pre-pandemic levels. The company said, net income for the quarter was 200 million dollars on a reported basis, with earnings...

BusinessFeatured

Tapestry reports 19 percent sales increase, returns to profit

Net sales at Tapestry Inc. totalled 1.27 billion dollars for the third quarter compared to 1.07 billion dollars in the prior year, representing a 19 percent increase. Commenting on the third quarter results, Joanne Crevoiserat, chief executive officer of Tapestry, said: “Through a sharpened focus on the consumer, we fueled new customer...