Core Viewpoint - Tapestry's latest quarterly earnings report exceeded expectations, but the company's annual outlook fell short due to tariff costs impacting key profitability metrics, leading to a significant drop in stock price [1] Group 1: Financial Performance - For the fourth quarter of fiscal year 2025, Tapestry reported an adjusted earnings per share of $1.04, surpassing analyst expectations by $0.02 [1] - The quarterly sales reached $1.72 billion, exceeding the forecast of $1.68 billion [1] - The company anticipates diluted earnings per share for fiscal year 2026 to be between $5.30 and $5.45, reflecting a growth of 4% to 7% year-over-year, but below the analyst expectation of $5.49 [1] Group 2: Tariff Impact - Tapestry's management indicated that tariffs are expected to result in a negative impact of $0.60 per share [1] - CFO Scott Roe mentioned that the additional tariff costs for the fiscal year would amount to approximately $160 million, which is expected to have a significant impact [2] - The company expressed confidence in its ability to gradually mitigate the impact of tariffs [2] Group 3: Brand Performance - Coach's revenue grew by 13% in the last quarter when excluding currency effects, while Kate Spade's revenue declined by 13% [2] - Tapestry's revenue for the fiscal year ending in June is projected to reach $7.2 billion, slightly above market expectations of $7.12 billion, with a mid-single-digit growth year-over-year [2] - Coach ranked as the fifth most popular fashion brand globally in June, with its Tabby and Brooklyn bags becoming standout products [3] Group 4: Market Position - Despite the dominance of European luxury brands, Coach has successfully positioned itself as a competitive American brand, maintaining a more approachable pricing strategy [3] - Analysts noted that the strong performance of Tapestry's brands suggests potential for continued market share expansion and maintenance of operating margins amid rising price sensitivity and tariff risks [3]

阿里将完成一项延期两年的资本计划 AI 帮渐冻症患者 "说话" 了 关注《晚点财经》并设为星标，第一时间获取每日商业精华。 小红书取消专业职级，压缩管理层级 小红书取消专业职级，压缩管理层级 小红书过去设有 R（专家岗）和 L（管理岗）两个职级序列，前者分为 R1-R8，后者分为 L0-L4，在 过去 R6 以上员工可以兼任 L0，成为虚线管理者。 但在 8 月 16 日的全员信中，小红书宣布即日起不再设置 R 序列，并简化管理层级，对各级管理者采 取任命制。另外据我们了解，小红书员工的薪酬将更直接地和工作难度挂钩，奖金则和工作成果挂 钩。这有点像拼多多，长期扁平化管理，加薪与否取决于工作表现。 调整发生在核心管理层对公司人效低下、组织臃肿等情况日益不满之后。7 月，有媒体报道小红书将 开始一轮裁员，主要波及低绩效员工。 过去中国互联网公司成熟之后大多会增加职级体系，成熟互联网公司改变基层员工职级体系时，往往 考虑增加职级， 将晋升梯子改得更好爬 。因为对员工来说，职级提高大概率伴随薪资上涨、管理权 限放大，跳槽时也更方便。降低升职难度为员工增加安全感，能让公司组织变得更稳定。 但职级的存在也容易培养员工论资 ...