| Metric | Value ($ M) | Q1 FY26 |
|---|---|---|
| Revenue | 1.9K | 11.1% |
| Total Income | 1.9K | 11.1% |
| Expenditure | 1.5K | 6.8% |
| PBT | 411.00 | 29.0% |
| Net Profit | 360.00 | 31.0% |
| OPM | 22.39% | 3.13pp |
| NPM | 19.01% | 2.89pp |
| EPS | 1.81 | 37.1% |
Tapestry Reports Q1 FY27 Results and Raises Full Year Outlook
05 Nov 2026 · 5 Nov, 5:16 pm
Summary
Tapestry, Inc. reported a strong start to fiscal year 2027, with first quarter revenue reaching $1.9 billion, an 11% increase year-over-year on a reported basis. The company achieved significant margin expansion, with GAAP gross margin improving by 230 basis points, and reported GAAP diluted EPS of $1.76, a 38% increase. Management highlighted that the Amplify strategy is driving new consumers to its brands and expressed confidence in continued growth, leading them to raise the full-year outlook for revenue, operating margin, and earnings.
Key Highlights
- 1
Tapestry reported revenue of $1.9 billion for the fiscal first quarter ended September 26, 2026, an increase of 11% on a reported basis and 12% on a pro forma basis versus the prior year.
- 2
Gross margin expanded by 230 basis points on a GAAP basis and 220 basis points on a non-GAAP basis.
- 3
GAAP Diluted EPS was $1.76, up 38% versus the prior year, and Non-GAAP Diluted EPS increased 32% to $1.82.
- 4
The company returned approximately $700 million to shareholders through dividends and share repurchases in the quarter.
- 5
Tapestry is raising its Fiscal Year 2027 outlook for revenue, operating margin, and earnings.
- 6
Coach brand delivered 16% revenue growth, driven by strong performance in handbags.
- 7
Greater China region saw a 43% increase in revenue on a reported basis and 39% on a constant currency basis.
Management Comments
Joanne Crevoiserat
Our first quarter marked a powerful start to the year, with revenue, margin, and earnings growth ahead of expectations and strength around the world. Our Amplify strategy continues to bring new consumers to our brands through our distinctive combination of creativity, craftsmanship, and value. Building on this outperformance, we are raising our full year outlook, reflecting our confidence in the durability of our growth. Behind these results are advantages that compound over time, including our deep consumer understanding, data-driven approach, and global scale. Together, they reinforce our conviction that our greatest opportunities are ahead of us as we continue to drive long-term value for our customers, our teams, and our shareholders.
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