Tapestry, Inc. provides accessories and lifestyle brand products in North America, Greater China, rest of Asia, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women's handbags, fashion designs, business cases, computer bags, messenger style bags, backpacks, travel bags, and totes; and accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories, including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, technology accessories, gifting, straps, and charms. The company also provides women's and men's footwear, which casual and dress shoes, boots, sneakers, and sandals; and other products which includes outerwear, ready-to-wear, jewelry, watches, eyewear, fragrance, scarves, hats, gloves, and other products. It offers its products through retail and outlet stores, brand e-commerce sites, and concession shop-in-shops under the Coach, Kate Spade, and Stuart Weitzman brand names. The company was formerly known as Coach, Inc. and changed its name to Tapestry, Inc. in October 2017. Tapestry, Inc. was founded in 1941 and is headquartered in New York, New York.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $7.0B | $526M | $183M | $1.1B | 21.4% | 5.1% | -77.5% |
| 2024 | $6.7B | $1.4B | $816M | $1.1B | 28.2% | 0.2% | -12.8% |
| 2023 | $6.7B | $1.4B | $936M | $791M | 41.1% | -0.4% | 9.3% |
| 2022 | $6.7B | $1.3B | $856M | $759M | 37.5% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 6,684.50 | 6,660.90 | 6,671.20 | 7,010.70 |
| Operating Revenue | - | 6,684.50 | 6,660.90 | 6,671.20 | 7,010.70 |
| Cost Of Revenue | - | 2,034.10 | 1,946 | 1,781.70 | 1,721.80 |
| Gross Profit | - | 4,650.40 | 4,714.90 | 4,889.50 | 5,288.90 |
| Operating Expense | - | 3,474.60 | 3,542.50 | 3,749.40 | 4,019.10 |
| Selling General And Administration | - | 3,474.60 | 3,542.50 | 3,749.40 | 4,019.10 |
| Total Expenses | - | 5,508.70 | 5,488.50 | 5,531.10 | 5,740.90 |
| Operating Income | - | 1,175.80 | 1,172.40 | 1,140.10 | 1,269.80 |
| Total Operating Income As Reported | - | 1,175.80 | 1,172.40 | 1,140.10 | 415 |
| EBITDA | - | 1,311.70 | 1,394.90 | 1,365.90 | 526.40 |
| Normalized EBITDA | - | 1,365.40 | 1,394.90 | 1,365.90 | 1,501.30 |
| EBIT | - | 1,105.70 | 1,170.70 | 1,136.90 | 301.50 |
| Interest Expense | - | 58.70 | 27.60 | 125 | 85.40 |
| Net Interest Income | - | -58.70 | -27.60 | -125 | -85.40 |
| Other Non Operating Income Expenses | - | -16.40 | -1.70 | -3.20 | 6.60 |
| Other Income Expense | - | -70.10 | -1.70 | -3.20 | -968.30 |
| Interest Expense Non Operating | - | 58.70 | 27.60 | 125 | 85.40 |
| Net Non Operating Interest Income Expense | - | -58.70 | -27.60 | -125 | -85.40 |
| Pretax Income | - | 1,047 | 1,143.10 | 1,011.90 | 216.10 |
| Tax Provision | - | 190.70 | 207.10 | 195.90 | 32.90 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -9.77 | 0 | 0 | -148.18 |
| Net Income Continuous Operations | - | 856.30 | 936 | 816 | 183.20 |
| Net Income From Continuing And Discontinued Operation | - | 856.30 | 936 | 816 | 183.20 |
| Net Income From Continuing Operation Net Minority Interest | - | 856.30 | 936 | 816 | 183.20 |
| Net Income | - | 856.30 | 936 | 816 | 183.20 |
| Net Income Common Stockholders | - | 856.30 | 936 | 816 | 183.20 |
| Net Income Including Noncontrolling Interests | - | 856.30 | 936 | 816 | 183.20 |
| Normalized Income | - | 900.23 | 936 | 816 | 1,009.92 |
| Diluted NI Availto Com Stockholders | - | 856.30 | 936 | 816 | 183.20 |
| Basic Average Shares | - | 264.30 | 236.40 | 229.20 | 216.80 |
| Diluted Average Shares | - | 270.10 | 241.30 | 233.20 | 222.50 |
| Reconciled Depreciation | - | 206 | 224.20 | 229 | 224.90 |
| Reconciled Cost Of Revenue | - | 2,034.10 | 1,946 | 1,781.70 | 1,721.80 |
| Total Unusual Items | - | -53.70 | 0 | 0 | -974.90 |
| Total Unusual Items Excluding Goodwill | - | -53.70 | 0 | 0 | -974.90 |
| Special Income Charges | - | -53.70 | 0 | 0 | -974.90 |
| Other Special Charges | - | 53.70 | - | - | 120.10 |
| Impairment Of Capital Assets | - | 0 | 0 | 0 | 854.80 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Tapestry, Inc.this co. | TPR | $28.4B | 154.92β premium | 33.09 | 21.4% | 59.20 |
| Las Vegas Sands Corp. | LVS | $33.6B | 20.66 | 21.14 | 102.3% | 10.13 |
| Casey's General Stores, Inc. | CASY | $28.2B | 51.65 | 8.05 | 15.6% | 25.72 |
| Expedia Group, Inc. | EXPE | $27.3B | 21.07 | 21.24 | 100.8% | 10.18 |
| Williams-Sonoma, Inc. | WSM | $24.5B | 22.51 |
| - |
| - |
| - |
| - |
| 11.77 |
| 52.3% |
| 15.14 |
| Lennar Corporation | LEN | $22.6B | 10.89 | 1.03 | 9.5% | 8.58 |
| PulteGroup, Inc. | PHM | $22.5B | 10.15 | 1.73 | 17.1% | 7.55 |
| Rollins, Inc. | ROL | $22.4B | 42.51 | 16.29 | 38.3% | 27.31 |
| Smurfit Westrock Plc | SW | $22.2B | 31.72 | 1.21 | 3.8% | 8.06 |
| Peer Median | - | 21.79 | 9.91 | 27.7% | 10.15 | |