Tapestry, Inc. reported a significant increase in its financial performance for the fiscal year ending June 27, 2026, with total net sales reaching $8.00 billion, a 14.2% increase from $7.01 billion in the previous fiscal year. The company's gross profit also rose to $6.23 billion, reflecting a gross margin of 77.8%, up from 75.4% in fiscal 2025. Net income surged to $1.53 billion, translating to a diluted earnings per share of $7.27, compared to $0.82 in the prior year. This growth was primarily driven by a substantial increase in direct-to-consumer (DTC) sales, particularly in North America, Greater China, and Europe.
The fiscal year saw Tapestry undergo significant strategic changes, including the divestiture of its Stuart Weitzman business, which was completed on August 4, 2025. This sale allowed the company to focus on its two remaining brands, Coach and Kate Spade, which accounted for 86.4% and 13.4% of total net sales, respectively. The company also introduced its 2028 growth strategy, "Amplify," aimed at enhancing emotional connections with consumers, driving fashion innovation, and expanding its global presence, particularly in international markets.
Operationally, Tapestry reported a total employee headcount of approximately 20,600 as of June 27, 2026, with 16,800 working in retail locations. The company expanded its retail footprint, increasing the number of Coach stores to 973 and Kate Spade stores to 326. The DTC channel represented about 87% of total net sales, underscoring the importance of direct consumer engagement in Tapestry's business model. The company also emphasized its commitment to sustainability and corporate responsibility through its "Fabric of Change" initiative, which focuses on environmental and social governance.
Looking ahead, Tapestry's management expressed optimism about sustaining growth, despite potential challenges from macroeconomic conditions, including inflation and geopolitical tensions. The company is focused on executing its Amplify strategy and leveraging its strong brand portfolio to navigate the evolving retail landscape. Tapestry's ability to adapt to changing consumer preferences and market dynamics will be crucial in maintaining its competitive edge and achieving its long-term financial goals.
About TAPESTRY, INC.
Tapestry, Inc. is a global luxury accessories and lifestyle company owning iconic brands Coach, Kate Spade, and Stuart Weitzman. It designs, markets, and sells handbags, footwear, small leather goods, and accessories through direct-to-consumer channels, wholesale, and licensing. The company emphasizes innovation, sustainability, and inclusive culture, serving a worldwide customer base with a focus on omni-channel retail and digital platforms.
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