Tapestry (NYSE:TPR) 2025 Investor Day September 10, 2025 08:30 AM ET Company ParticipantsPeter Charles - Chief Supply Chain OfficerChristina Colone - Global Head, Investor RelationsJoanne Crevoiserat - CEOEva Erdmann - Brand President and CEODana Telsey - CEOScott Roe - CFO and COOSandeep Seth - Chief Growth Officer and President InternationalTodd Kahn - Brand President and CEOConference Call ParticipantsMatt Boss - AnalystIke Boruchow - AnalystPaul Lejuez - AnalystOliver Chen - AnalystLorraine Hutchinson - ...

Core Viewpoint - Tapestry, the parent company of Coach and Kate Spade, is facing significant profit headwinds due to increased tariffs, which are expected to cost the company $160 million in the upcoming fiscal year, despite anticipated sales growth [1][2]. Financial Performance - Tapestry expects full-year fiscal 2026 earnings to be between $5.30 and $5.45 per share, which is below analysts' expectations of $5.49 per share [1][3]. - The company projects revenue of approximately $7.2 billion for the fiscal year, indicating low single-digit growth compared to the previous year [3]. Tariff Impact - The CFO highlighted that the company is experiencing greater profit challenges from tariffs than previously anticipated, particularly due to the suspension of the de minimis rule, which previously allowed duty-free entry for items valued at $800 or less [2]. - Tapestry is exploring various strategies to mitigate the impact of tariffs, including diversifying manufacturing locations and improving operational efficiency [5]. Industry Context - Other retailers are also adapting to higher tariff costs by moving manufacturing, raising prices, and focusing on popular items [4]. - Major U.S. retailers, including Walmart, Home Depot, and Target, are expected to report their quarterly earnings soon, which may provide further insights into industry trends [6].