Quarterly ResultNov 5, 2026, 06:51 AM

Tapestry Q1 Net Sales $1.89B, Net Income $360M; Buys Back $600M Stock

AI Summary

Tapestry, Inc. reported a strong first quarter for fiscal year 2027, with net sales increasing by 11.1% to $1.894 billion and net income rising to $360 million, or $1.76 per diluted share. The company continued its share repurchase program, buying back $600 million of common stock. Despite an increase in total liabilities and inventories, the company's financial performance shows positive momentum.

Key Highlights

Tapestry, Inc. reported net sales of $1.894 billion for the three months ended September 26, 2026, an increase from $1.705 billion in the prior year period.
Net income for the quarter was $360 million, or $1.76 per diluted share, compared to $275 million, or $1.28 per diluted share, in the same period last year.
The company repurchased $600 million of common stock during the quarter ended September 26, 2026.
Total assets decreased to $6.615 billion as of September 26, 2026, from $6.692 billion as of June 27, 2026.
Total liabilities increased to $6.271 billion as of September 26, 2026, from $6.000 billion as of June 27, 2026.
Inventories increased to $1.055 billion as of September 26, 2026, from $826 million as of June 27, 2026.
Cash and cash equivalents decreased to $599 million as of September 26, 2026, from $975 million as of June 27, 2026.

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TAPESTRY, INC.

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