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Tapestry raises forecasts following record second-quarter results

US fashion group Tapestry Inc. exceeded expectations in the second quarter of the 2025/26 financial year, thanks to strong growth at its core brand Coach. In light of its recent strong performance, the group raised its forecasts on Thursday. In the three months to December 27, group revenue reached 2.50 billion dollars. This represented an...

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Tapestry exceeds expectations in fourth quarter despite high losses

The US fashion group Tapestry Inc. slipped deep into the red in the fourth quarter of the 2024/25 financial year due to negative one-off effects. Overall, the results, which the company published on Thursday, exceeded market expectations. In the final quarter, which ended on June 28, group revenue amounted to 1.72 billion dollars. This...

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Former Coach boss named new CEO of Capri Holdings, Michael Kors

Capri Holdings has announced that Joshua Schulman is the new CEO of Michael Kors, effective immediately, and will take on the role of group CEO from September 2022. Schulman joins the luxury fashion group from Tapestry, where he was president and CEO of the Coach brand from 2017 to 2020. Prior to that, he spent five years at Neiman Marcus Group,...

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5 Brands launching Pride Collections with a Difference

June is the month of Pride and some brands are doing more than lip service and making inclusivity a priority. For the past several years, a plethora of brands from high street to sportswear to luxury, have unveiled collections and collaborations that directly benefit the LGBTQIA+ community, either through awareness or donating to relevant...

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Tapestry reports 19 percent sales increase, returns to profit

Net sales at Tapestry Inc. totalled 1.27 billion dollars for the third quarter compared to 1.07 billion dollars in the prior year, representing a 19 percent increase. Commenting on the third quarter results, Joanne Crevoiserat, chief executive officer of Tapestry, said: “Through a sharpened focus on the consumer, we fueled new customer...

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Tapestry appoints Scott Roe as chief financial officer

Tapestry, Inc. has announced the appointment of Scott A. Roe, as chief financial officer, effective June 1, 2021. Roe, the company said, will have responsibility for all finance functions as well as leading the company’s strategy and consumer Insights teams. “As a leader, Scott is both dynamic and progressive, and believes in soliciting diverse...

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Tapestry names Todd Kahn as permanent CEO and president of Coach

New York-based luxury fashion group Tapestry has named Todd Kahn as the new permanent CEO and president of Coach. Kahn joined the company as senior vice president, general counsel and secretary in January 2008 and has held a number of leadership roles within the organization since then. He has been interim CEO and brand president of Coach since...

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Nike is world's top valuable apparel brand

Nike is the world’s most valuable apparel brand for the seventh consecutive year, according to data from the Brand Finance Apparel 50 2021 report. In a trying year for retailers and brands, the total value of the world’s top 50 most valuable apparel companies declined by 8 percent. Footwear brands are the only category to see growth, up 9...

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Coach parent Tapestry posts 7 percent drop in Q2 sales

Coach parent Tapestry Net sales at Tapestry Inc. totalled 1.69 billion dollars for the second quarter compared to 1.82 billion dollars in the prior year, representing a 7 percent decline. Net income for the quarter was 311 million dollars on a reported basis, with earnings per diluted share of 1.11 dollars. This compared to net income of 299...

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Tapestry beats analysts' revenue estimate for Q1

In its trading report for the first quarter, Tapestry, Inc. said net sales totalled 1.17 billion dollars, representing a 14 percent decline beating analysts’ average estimate of 1.07 billion dollars, according to IBES data from Refinitiv. The company said in a statement that gross profit reached 830 million dollars, while gross margin was 70.8...

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Video: Production Coordinator at Coach back to work during pandemic

There are certain jobs in the fashion industry that are not able to transition entirely into remote work such as roles in production. In this video, Renata D’Agrella, Production Coordinator at Coach, vlogs about what it’s like to return to the office while New York City is still in the midst of the Covid-19 pandemic. After months of quarantine,...

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Coach-parent Tapestry posts loss for Q4 and full year

Net sales at Coach-parent Tapestry Inc totalled 715 million dollars for the fourth quarter compared to 1.51 billion dollars in the prior year. The company said in a statement that gross profit totalled 499 million dollars on a reported basis, while gross margin for the quarter was 69.8 percent compared to 999 million dollars and 66 percent,...