UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of Each Class Trading SymbolName of Each Exchange on which Registered Common Stock, par value $.01 per share TPR New York Stock Exchange Securities Registered Pursuant to Section 12(g) of the Act: None FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended June 29, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 C ...

Financial Data and Key Metrics - Total revenue growth of 1% on a constant currency basis, driven by international growth of 6% [5] - Europe sales increased by 14%, Other Asia by 9%, and Japan by 5%, contributing to nearly 20% of Tapestry sales [5] - Greater China sales rose 3%, with declines in the second half due to strong growth in the previous year [5] - North America revenue declined 1%, but profit rose due to gross and operating margin expansion [5] - Record annual gross margin achieved, the highest in over 15 years [8] - EPS grew at a double-digit pace compared to the prior year, reaching $4.29 [27] Business Line Performance - Coach achieved record annual revenue surpassing $5 billion, with significant growth in handbags and AUR gains [7][11] - Kate Spade saw profit growth despite top-line challenges, driven by gross margin expansion and expense management [19] - Stuart Weitzman faced challenges in North America and Greater China but focused on brand-building initiatives [23] - Coach's Tabby family outperformed, with the Tabby Backpack contributing to strong sales [12] - Kate Spade expanded its core handbag offering and saw growth in jewelry, driven by Gen Z and Millennial recruitment [20][21] Market Performance - Europe grew 26%, Other Asia 12%, and Japan 2% in Q4, with Greater China declining 10% as expected [28] - North America sales declined 1% in Q4, but gross and operating margins improved [28] - Digital sales remained strong, representing nearly 30% of revenue, more than 3 times pre-pandemic levels [7] - Coach's global handbag AUR was flat in Q4, impacted by geographic mix, but North America AUR growth remained positive [14] Strategic Direction and Industry Competition - The company is focused on accelerating growth at Kate Spade and Stuart Weitzman while building on Coach's momentum [8] - Two key leadership changes were made: Sandeep Seth as Chief Growth Officer and Eva Erdmann as CEO of Kate Spade [9] - The pending acquisition of Capri is seen as a strategic fit, with plans to reinvigorate Capri's brands [10] - Coach's strategy includes deepening consumer connections, growing leather goods, and expanding lifestyle offerings [18] - Kate Spade's strategy focuses on brand heat, core handbag strengthening, and omnichannel growth [23] Management Commentary on Operating Environment and Future Outlook - The company expects mid-teens growth in Europe and mid-single-digit gains in Other Asia for FY25 [32] - Operating margin expansion of approximately 50 basis points is anticipated for FY25 [33] - EPS for FY25 is projected to be $4.45 to $4.50, representing mid-single-digit growth [34] - Free cash flow for FY25 is expected to be approximately $1.1 billion, with CapEx and cloud computing costs around $190 million [35] - The company remains confident in the long-term potential of China, despite short-term challenges [57][59] Other Important Information - Inventory levels at year-end were 10% below the prior year, with well-controlled and current inventory [31] - The company returned $321 million to shareholders through dividends, a 17% increase compared to last year [31] - The acquisition of Capri is expected to be accretive to EPS in year one, with compelling ROIC and cash flow benefits [38] Q&A Session Summary Question: Commitment to the Capri deal given its underperformance - The company remains committed to the Capri deal, viewing it as a strategic fit with significant value creation opportunities [41][42] - Synergies are expected to exceed initial estimates, with increasing conviction in the integration plans [43][44] Question: Plan B if the Capri deal does not go through - The company has multiple paths to value creation, including organic growth and potential share buybacks [48][49] Question: Health of the Coach brand in North America - Coach delivered slight growth in North America in Q4, with strong margins and a focus on product innovation and storytelling [52][53] Question: Gross margin drivers and AUR opportunities - Gross margin expansion is driven by operational improvements, AUR gains, and supply chain efficiencies [54][64] Question: Kate Spade's turnaround and investment needs - Kate Spade is focused on accelerating top-line growth while continuing to expand margins through brand-building and innovation [55] Question: China market outlook - The company remains bullish on China's long-term potential, with a focus on productivity gains and distribution expansion [57][59] Question: AUR and gross margin trends - AUR is supported by innovation and brand-building efforts, with structural drivers contributing to gross margin expansion [61][64] Question: Full price vs outlet trends at Coach - Coach is blurring the lines between full price and outlet channels, meeting consumer demand for key products like Tabby across all channels [66][67] Question: Brand investment priorities - The company will continue to invest in brand-building, particularly in Asia, while maintaining rigorous capital allocation processes [69][70] Question: Capri deal assumptions and margin expansion - The company remains confident in the Capri deal's long-term value creation, with moderated year-one accretion expectations due to Capri's recent performance [72][74] Question: Michael Kors turnaround and Coach pricing strategy - The company sees significant potential to reinvigorate Michael Kors through brand-building and leveraging Tapestry's platform [76] - Coach's pricing strategy focuses on innovation and value, with a strong position in the $200-$500 price range [78]

Tapestry, Inc. (TPR) reported fourth-quarter fiscal 2024 results that exceeded the Zacks Consensus Estimate for both revenues and earnings despite a challenging consumer environment. However, both metrics witnessed a year-over-year decline. Let's Delve Deeper Tapestry reported adjusted earnings of 92 cents a share for the fourth quarter, which surpassed the Zacks Consensus Estimate of 88 cents but declined from 95 cents delivered in the prior-year period. Net sales reached $1,591.1 million, beating the cons ...

Key Takeaways Tapestry exceeded fourth-quarter estimates as demand for its fashion products jumped in Europe. The parent of Coach, Kate Spade, and Stuart Weitzman brands posted a 26% year-over-year increase in European sales. Tapestry said it is confident its $8.5 billion purchase of Capri Holdings will be approved, despite efforts by regulators to block it because of concerns about competition. Tapestry (TPR) shares gained in intraday trading Thursday as the fashion designer posted better-thananticipated r ...

For the quarter ended June 2024, Tapestry (TPR) reported revenue of $1.59 billion, down 1.8% over the same period last year. EPS came in at $0.92, compared to $0.95 in the year-ago quarter. The reported revenue represents a surprise of +1.20% over the Zacks Consensus Estimate of $1.57 billion. With the consensus EPS estimate being $0.88, the EPS surprise was +4.55%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expecta ...

Tapestry (TPR) came out with quarterly earnings of $0.92 per share, beating the Zacks Consensus Estimate of $0.88 per share. This compares to earnings of $0.95 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 4.55%. A quarter ago, it was expected that this maker of high-end shoes and handbags would post earnings of $0.67 per share when it actually produced earnings of $0.81, delivering a surprise of 20.90%. Over the last four q ...

tapestry COACH kate spade NEW YORK STUART WEITZMAN © 2024 Tapestry, Inc. This presentation contains certain "forward-looking statements" based on managements current expectations. Forwarelooking statements which can be dentified by the use of fronardHooking terminslogy such as imay," Will," ican," should," exped," "nnend," continue," "ontinue," "ontinue," "forecast," "outlork, ""dutore," "ontoipel, "forna "comnit," "leverage," "development," "launch" "drive," "gron", "jekts," "arge," "enalte," "ieel," "enal ...

Exhibit 99.1 CONTACTS: Tapestry, Inc. Media: Andrea Shaw Resnick Chief Communications Officer 212/629-2618 aresnick@tapestry.com Analysts and Investors: Christina Colone Global Head of Investor Relations 212/946-7252 ccolone@tapestry.com TAPESTRY, INC. REPORTS FOURTH QUARTER AND FULL YEAR FISCAL 2024 RESULTS • Achieved Fiscal Year 2024 Reported Diluted EPS of $3.50 and Record non-GAAP Diluted EPS of $4.29, Exceeding the Company's Outlook • Drove Operational Outperformance, Highlighted by Gross Margin Expans ...

UKRAINE - 2021/05/02: In this photo illustration a Tapestry, Inc. logo of an US multinational luxury ... [+] fashion holding company is seen on a smartphone and a pc screen. (Photo Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images) SOPA Images/LightRocket via Getty Images Note: Tapestry's FY'24 ended July 2024. Tapestry (NYSE: TPR), a luxury goods retailer of handbags, shoes, and accessories, is scheduled to report its fiscal fourth-quarter results on Thursday, August 15. We expect the ...

Analysts on Wall Street project that Tapestry (TPR) will announce quarterly earnings of $0.88 per share in its forthcoming report, representing a decline of 7.4% year over year. Revenues are projected to reach $1.57 billion, declining 2.9% from the same quarter last year. Over the last 30 days, there has been a downward revision of 0.3% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over ...