Form 8-K · Current Report · Filed 2024-11-14

Tapestry Terminates Merger with Capri Holdings and Announces Share Repurchase

Tapestry, Inc. has terminated its merger agreement with Capri Holdings Limited, leading to the redemption of all outstanding notes. Additionally, the company has authorized a new share repurchase program of up to $2.0 billion. These actions follow the termination of the merger, with Tapestry also reimbursing Capri for its expenses.

Filer: Tapestry Inc. TPR · NYSE
Filed: 2024-11-14
Accession: 0001140361-24-046713
CIK: 0001116132
Signal: High impactConsumer Cyclical
Source: Official filing on sec.gov ↗

Items reported

Item 1.01

Entry into a Material Definitive Agreement

Material Agreement Amendment

Item 1.02

Termination of a Material Definitive Agreement

Contract Termination

Item 2.04

Triggering Events That Accelerate a Financial Obligation

Debt Covenant Violation

Item 7.01

Regulation FD Disclosure

Item 8.01

Other Events

Share Repurchase Program Announced

Item 9.01

Financial Statements and Exhibits

No viable tag

Market reaction

Close before filing

$51.26

Next session

+11.6%

Since filing

+197.2%

Latest close

$152.37

What happened, not what will happen — closing prices around the filing date.

Precedent

Previous filings from TPR reporting the same item, with the next session's move:

2024-11-07Tapestry, Inc. Reports Strong Q1 FY25 Results and Raises Outlook+4.9%

2024-08-15Tapestry, Inc. Reports Fiscal 2024 Results and Provides Financial Outlook+6.4%

2024-08-01Tapestry, Inc. Announces New CEO and Brand President for Kate Spade-4.9%

2024-05-09Tapestry Reports Q3 Earnings Ahead of Expectations+2.8%

2024-04-22Tapestry Responds to FTC Lawsuit Over Capri Merger-2.9%

Exhibits (2)

EX-10.1ef20038690_ex10-1.htm39 KB EX-99.1ef20038690_ex99-1.htm22 KB

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.

Exchange NYSE Industry Luxury Goods Company website ↗

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