Tapestry Inc.
Tapestry, Inc. Reports Record Q2 Revenue and Raises Fiscal 2024 Outlook
Summary
On February 8, 2024, Tapestry, Inc. reported its second fiscal quarter results, delivering record revenue of $2.1 billion and raising its Fiscal 2024 EPS outlook. The company achieved a 3% revenue growth year-over-year, with diluted EPS of $1.39 on a reported basis, up 3% from the prior year, and $1.63 on a non-GAAP basis, up 20% from the prior year. Tapestry also announced robust operating and free cash flow of over $800 million. The company expects Fiscal 2024 revenue of approximately $6.7 billion and EPS of $4.20 to $4.25.
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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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