Tapestry Reports Strong Q1 2027 Results Driven by Coach Brand Growth
Tapestry (TPR) delivered a robust first quarter for fiscal year 2027, with net sales reaching $1.89 billion, representing a 12% pro forma increase. The performance was primarily propelled by the Coach brand, which saw a 16% constant currency revenue increase and added 2.1 million new customers. Notably, Gen Z consumers accounted for 35% of all new customer acquisitions during this period. Financial health remained strong with non-GAAP EPS rising 32% to $1.82, exceeding internal guidance. While Kate Spade experienced a 10% decline in constant currency revenue due to intentional reductions in promotional activity, the company's overall outlook remains optimistic. Tapestry raised its full-year FY 2027 EPS guidance to a range of $8.25 to $8.35 and increased its share repurchase target to $1.7 billion.
Tickers: $TPR
Topics: consumer trends EPS gross margin net sales revenue growth