Core Insights - Tapestry's sales growth in the first quarter of fiscal 2026 was significantly driven by new customer acquisition, particularly among Gen Z consumers, who represented approximately 35% of new customers [1][2][5] - The company raised its full-year revenue outlook to around $7.3 billion, reflecting a growth of 4% to 5% from the previous year, and adjusted its earnings per diluted share forecast to a range of $5.45 to $5.60 [4] Financial Performance - Tapestry reported a net income of $274.8 million, or $1.28 per share, for the three-month period ending September 27, compared to $186.6 million, or 79 cents per share, in the same period last year [3] - The company's earnings per share exceeded expectations at $1.38, compared to the anticipated $1.26, and revenue also surpassed forecasts at $1.70 billion against an expected $1.64 billion [8] Market Trends - Despite Tapestry's positive performance, shares fell approximately 9% in premarket trading following the earnings report [4] - Other companies, such as Chipotle and Cava, reported weaker sales attributed to younger consumers reducing their spending, contrasting with Tapestry's success in attracting Gen Z [5][6]