Tapestry Inc.
Tapestry, Inc. Reports Strong Q1 FY25 Results and Raises Outlook
Summary
Tapestry, Inc. announced its financial results for the first fiscal quarter ended September 28, 2024, with net sales of $1.51 billion, in-line with the prior year. The company reported diluted earnings per share of $0.79 on a reported basis and $1.02 on a non-GAAP basis. Gross margin expanded by 280 basis points to 75.3%, driven by operational improvements and lower freight expense. Tapestry also raised its fiscal 2025 outlook, expecting revenue growth of approximately 1% to 2% and earnings per diluted share of $4.50 to $4.55.
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About Tapestry Inc.
Tapestry Inc., a prominent holding company in the fashion industry, manages luxury brands known for their upscale accessories, footwear, and apparel. Its portfolio includes celebrated names such as Coach, Kate Spade, and Stuart Weitzman, each with their unique style and market appeal. Tapestry's primary function is to oversee the growth and strategic direction of these brands, facilitating their global reach and market penetration. By focusing on design innovation and customer engagement, Tapestry maintains its influence in the luxury goods sector, appealing to a wide demographic interested in fashion-forward and high-quality products. The company places a strong emphasis on brand differentiation and enhancing customer experiences across digital and physical retail platforms. With its headquarters in New York City, Tapestry Inc. is a significant player in the retail industry, showcasing the value and trends of luxury consumer goods while striving for sustainability and social responsibility as part of its corporate ethos.
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