| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 2.5K | 46.8% | 14.0% |
| Total Income | 2.5K | 46.8% | 14.0% |
| Expenditure | 1.8K | 29.8% | 4.9% |
| PBT | 697.10 | 118.7% | 101.9% |
| Net Profit | 561.30 | 104.3% | 80.8% |
| OPM | 28.63% | 9.38pp | 6.18pp |
| NPM | 22.43% | 6.31pp | 8.29pp |
| EPS | 2.75 | 108.3% | 95.0% |
Tapestry Reports Q2 FY26 Revenue $2.5B, Up 14% and Raises Full Year Outlook
04 May 2026 · 4 May, 1:23 am
Summary
Tapestry, Inc. reported strong second-quarter fiscal 2026 results, with revenue reaching $2.5 billion, a 14% increase year-over-year. Pro forma revenue grew by 18%, led by the Coach brand's 25% gain. The company's GAAP diluted EPS increased by 94% to $2.68, while non-GAAP diluted EPS rose by 34% to $2.69. Tapestry is raising its fiscal year 2026 outlook, projecting revenue of over $7.75 billion and adjusted free cash flow of approximately $1.5 billion.
Key Highlights
- 1
Tapestry's revenue reached $2.5 billion, reflecting a 14% increase compared to the prior year.
- 2
Pro forma revenue growth was 18%, driven by a 25% gain at the Coach brand.
- 3
The company achieved GAAP diluted EPS of $2.68, a 94% increase versus the prior year, and non-GAAP diluted EPS of $2.69, up 34% year-over-year.
- 4
Operating margin expanded by 620 basis points on a GAAP basis and 390 basis points on a non-GAAP basis.
- 5
Tapestry is on track to return $1.5 billion to shareholders in fiscal year 2026, an increase from prior guidance.
- 6
The company is raising its fiscal year 2026 revenue outlook to over $7.75 billion, representing approximately 11% growth versus the prior year.
- 7
Adjusted free cash flow is expected to be in the area of $1.5 billion for fiscal year 2026.
Management Comments
Joanne Crevoiserat
“Our second quarter outperformance reflects the compounding impact of our Amplify strategy, driving deeper consumer engagement, accelerated growth, and record results. This holiday season, our talented teams brought creativity, craftsmanship, and value to consumers around the world, building new and lasting connections that fuel enduring brand desire and demand. As we move forward, we do so with momentum and confidence. By harnessing our proven strategies and structural advantages, we are raising our outlook for the fiscal year, reinforcing our commitment to driving durable growth and long-term value creation.”
Informational and educational content only. Not investment advice.