UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended July 2, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 1-16153 Tapestry, Inc. (Exact name of registrant as specified in its charter) Maryland 52-2242751 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identifi ...

Financial Data and Key Metrics Changes - Revenue rose 13% compared to the prior year, with double-digit growth at each brand [55] - Earnings per diluted share for the quarter was $0.51, in line with the prior year and well ahead of expectations [61] - Gross margin improved due to higher full-price sell-throughs and lower discounting, despite $63 million pressure from incremental freight [59] Business Line Data and Key Metrics Changes - Coach achieved a sales increase of 11% compared to the prior year, with nearly 20% growth in North America [19] - Kate Spade's revenue rose 19%, including a 25% increase in North America [32] - Stuart Weitzman delivered significant operating margin expansion, with AUR growth over 20% in North America [44][46] Market Data and Key Metrics Changes - North America fueled results with 22% growth, while sales in Greater China declined at a low-teens rate [55] - Europe saw nearly 60% sales growth compared to last year, while Japan experienced mid-single-digit growth [57] - Digital sales grew over 20%, representing approximately 30% of total business [15][29] Company Strategy and Development Direction - The company is focused on building lasting relationships with customers to increase lifetime value through continuous innovation [10] - Emphasis on digital leadership and leveraging consumer data to enhance customer connections and execution [11] - The Acceleration Program has brought in nearly 13 million new customers over 21 months, with a focus on driving sustainable growth [14][18] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about the resilience of the Chinese consumer and long-term growth opportunities despite near-term COVID-related headwinds [17] - The company expects to achieve $2 billion in digital revenue in fiscal '22, with further runway ahead [15] - Confidence in the ability to maintain margins and drive growth through pricing power and brand strength [88] Other Important Information - The company plans to return approximately $1.9 billion to shareholders in fiscal 2022, including $1.6 billion in share repurchases [64][77] - Inventory at quarter end was 30% above the prior year, primarily due to elevated in-transits amid supply chain challenges [62] Q&A Session Summary Question: Headwinds in China and positive trends elsewhere - Management noted strong growth in all regions outside of China, with North America delivering 22% growth, offsetting challenges in China due to COVID [80][82] Question: GSP potential and fiscal year outlook - Management highlighted strong brand momentum and consumer engagement, indicating confidence in future growth despite not providing explicit guidance [85][89] Question: Average unit retail momentum and promotional activity - Management confirmed pricing power across brands, with no consumer pushback on price increases, and emphasized the importance of maintaining brand value [92][94] Question: Demand deceleration in North America - Management observed strong consumer engagement and increasing acquisition metrics, indicating continued demand across categories [101] Question: Shanghai distribution center reopening and freight costs - Management provided insights on the slow reopening of the Shanghai distribution center and anticipated improvements in freight costs moving forward [110][116]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended April 2, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 1-16153 Tapestry, Inc. Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Re ...

Financial Data and Key Metrics Changes - Revenue increased by 27% compared to the prior year, with an 18% rise against pre-pandemic levels, reflecting a 9-point sequential acceleration driven by improved store trends and continued strength in the digital channel [42] - Earnings per diluted share for the quarter was $1.33, an increase of 15% compared to the prior year and over 20% versus FY '20 [45] - The company ended the quarter with $1.65 billion in cash and investments, and total borrowings of $1.6 billion [46] Business Line Data and Key Metrics Changes - Coach achieved 24% sales growth compared to last year, with revenue trends accelerating 20% above pre-pandemic levels [18] - Kate Spade sales grew 33% compared to last year, with an 18-point sequential acceleration against pre-pandemic levels [29] - Stuart Weitzman drove 37% revenue growth compared to last year, returning to pre-pandemic sales levels [35] Market Data and Key Metrics Changes - North America delivered over 35% revenue growth compared to last year, accelerating to 25% growth on a 2-year basis [42] - Sales in Greater China rose high single digits, including a mid-single-digit increase in Mainland China, with nearly 35% growth compared to 2 years ago [43][16] - Digital sales represented one-third of total business, with a 30% increase compared to last year, nearly tripling pre-pandemic levels [13] Company Strategy and Development Direction - The company is focused on a consumer-centric approach, leveraging data to enhance engagement and drive customer lifetime value [11] - Significant investments in digital capabilities are aimed at improving customer experience and driving conversion [13] - The company anticipates continued growth in China, viewing it as a meaningful long-term opportunity across brands [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term potential of the multi-brand portfolio despite near-term volatility due to the pandemic [57] - The company expects revenue to reach approximately $6.75 billion, marking a record for the company, with strong double-digit growth anticipated across all brands [51] - Management acknowledged supply chain constraints but emphasized strong consumer demand and the ability to navigate challenges [50] Other Important Information - The company plans to return over $1.5 billion to shareholders in fiscal '22, an increase from the prior outlook of $1.25 billion [48] - The gross margin contracted due to investments in freight to maintain product flow, but it remains nearly 150 basis points ahead of pre-pandemic levels [44] Q&A Session Summary Question: Can you elaborate on the inflection at Kate Spade and its long-term potential? - Management highlighted a significant inflection in Kate Spade with 33% sales growth and strong operating margins, aiming to build it into a $2 billion brand [60][61] Question: Can you provide more details on the inventory dynamics and expected revenue headwinds? - Management indicated that strong demand outpaced supply, particularly for Kate Spade, which may moderate growth rates in the short term but is not reflective of brand strength [64][66] Question: What is the outlook for digital sales and its impact on store fleet? - Management noted that digital sales are expected to reach $2 billion, representing a margin benefit, while also emphasizing the importance of stores as touchpoints for consumers [72][74] Question: How is the current environment in China affecting growth? - Management reported growth in China, with a focus on digital engagement and strong brand affinity, despite some near-term COVID-related pressures [77][78] Question: What are the company's strategies regarding pricing and sustainability? - Management expressed confidence in maintaining pricing power while focusing on sustainability initiatives, including a commitment to net zero by 2050 [84][91]

tapestry ACHIEVED 2-YEAR REVENUE GROWTH OF 18% REFLECTING 9 POINT IMPROVEMENT VS. PRIOR QUARTER GLOBAL DIGITAL SALES ROSE APPROXIMATELY 30% VS. 2Q21 AND NEARLY TRIPLED VS. PRE-PANDEMIC LEVELS IN NORTH AMERICA, RECRUITED NEARLY 3 million NEW CUSTOMERS ACROSS CHANNELS GROSS MARGIN EXPANDED BY APPROXIMATELY 135 bps OPERATING MARGIN EXPANDED BY APPROXIMATELY 170 bps RETURNED OVER $550 million VS. PRE-PANDEMIC LEVELS VS. PRE-PANDEMIC LEVELS OF CAPITAL TO SHAREHOLDERS IN 2Q22 Non-GAAP Financials. See http://www.t ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended January 1, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 1-16153 Tapestry, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No ...

Tapestry, Inc. (NYSE:TPR) Q1 2022 Earnings Conference Call November 11, 2021 8:00 AM ET Company Participants Kelsey Mueller - Director of Investor Relations Joanne Crevoiserat - Chief Executive Officer Scott Roe - Chief Financial Officer and Head of Strategy Todd Kahn - CEO and Brand President of Coach Conference Call Participants Bob Drbul - Guggenheim Ike Boruchow - Wells Fargo Erinn Murphy - Piper Sandler Mark Altschwager - Baird Lorraine Hutchinson - Bank of America Michael Binetti - Credit Suisse Adri ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended October 2, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 1-16153 Tapestry, Inc. (Exact name of registrant as specified in its charter) Maryland 52-2242751 (State or other jurisdiction of incorporation or organization) (I.R.S. Employ ...

tapestry this presentation contains certain "forward-looking statements" based on management's current expectations. Forward-looking statements include, but are not limited to state by the use of forward-lobking terminology such as "may," will," "can", "should," "estimate, " estimate, " "omtinue," "project," "guidance," "forecast," "outlook, " "antici "captalzing" "developing," "drive, "fargeting," "assume," "plan," "pursue," "maintain," "on track," "well positioned to, "1o aquire, ""strategic vision," "gro ...

Financial Data and Key Metrics Changes - Tapestry delivered record operating income and operating margin in FY21, with total sales rising 126% year-over-year in Q4, surpassing pre-pandemic levels [49][56] - Generated $1.2 billion in free cash flow and ended the year with approximately $2 billion in cash, while reducing total borrowings to $1.6 billion [58][60] - Achieved earnings per diluted share of $0.74 on a 14-week basis, significantly up from a loss in the prior year and 7% ahead of pre-pandemic EPS levels [56] Business Line Data and Key Metrics Changes - Coach, the largest brand, saw revenue rise 117% year-over-year in Q4, with operating income increasing by 67% compared to the previous year [17][18] - Kate Spade experienced a 95% increase in sales in Q4 compared to the prior year, although still 4% below FY19 levels [27] - Stuart Weitzman reported over 35% revenue growth in Mainland China compared to the prior year, indicating strong demand recovery [40] Market Data and Key Metrics Changes - North America led overall growth with a 150% increase versus FY20 and a high single-digit percentage increase compared to FY19 [50] - Greater China sales reached $1.1 billion, with over 60% growth on the Mainland [10] - Digital sales grew more than 35% year-over-year, reaching 30% penetration, which is three times the levels seen in 2019 [52] Company Strategy and Development Direction - The company is focused on enhancing digital capabilities and expanding its presence in China, with plans to return over $750 million to shareholders through dividends and share repurchases in FY22 [15][60] - Tapestry aims to increase market share in core categories and expand lifestyle offerings, targeting over $1 billion in revenue from these initiatives [25][26] - The acceleration program has transformed the organization, allowing for better customer engagement and operational efficiency [6][80] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in strong consumer demand and momentum entering FY22, expecting revenue to increase at a mid-teens rate, reaching approximately $6.4 billion [68][88] - The company is prepared to mitigate supply chain disruptions by securing expedited deliveries and increasing average unit retail (AUR) prices [67][69] - Management highlighted the importance of investing in long-term growth drivers, including marketing and digital capabilities, to sustain momentum [89][91] Other Important Information - The company reduced SKU counts by 40% to 45%, optimizing inventory and enhancing gross margins [12][54] - Tapestry closed a net of 59 locations globally in FY21, focusing on profitability and optimizing its global fleet [57] - The company plans to invest approximately $220 million in capital expenditures, primarily for store development in China and digital initiatives [75][76] Q&A Session Summary Question: What signs give confidence in the strong trajectory planned for FY22? - Management cited standout results in FY21, record operating income, and momentum building as indicators of confidence [87][88] Question: Can you quantify the retroactive GSP benefit for gross margin expectations? - The GSP benefit is expected to contribute about 50 basis points to the margin [98] Question: How do you see the potential for Kate Spade's margin profile evolving over time? - Management sees a path for Kate Spade to achieve high teens margin opportunities, with significant growth potential [116] Question: What are the priorities for the Coach brand as a lifestyle brand? - The focus will be on expanding into men's products and enhancing footwear offerings, alongside maintaining strong AUR growth [140] Question: How will the company retain newly acquired customers? - Retaining new customers will involve consistent innovation and engagement through data insights and social media presence [142]