Stuart Weitzman news and archive

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...

PeopleFeatured

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...

BusinessFeatured

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...

BusinessFeatured

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...

BusinessFeatured

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,...

Business

Tapestry CEO Jide Zeitlin steps down, Joanne Crevoiserat named interim CEO

Tapestry, Inc. has announced the resignation of Jide Zeitlin, Chairman and Chief Executive Officer, effective immediately. As a result, the company said in a statement, Joanne Crevoiserat, chief financial officer, has been appointed Interim Chief Executive Officer of Tapestry, Inc. Commenting on the leadership changes, Susan Kropf, the company’s...

Retail

Coach, Kate Spade and Stuart Weitzman stores to slowly reopen

Tapestry, Inc., owner of Coach, Kate Spade and Stuart Weitzman, has announced its plans for the phased reopening of stores throughout North America, Europe and other markets. By the end of the week, the luxury house expects over 300 Coach, Kate Spade and Stuart Weitzman stores in North America to offer curbside or store pickup service....

Fashion Featured

Tapestry sales drop, net loss reaches 677 million dollars

Net sales at Tapestry Inc., totalled 1.07 billion dollars for the fiscal third quarter as compared to 1.33 billion dollars in the prior year. The company said in a statement that net loss for the quarter was 677 million dollars on a reported basis, with loss per diluted share of 2.45 dollars compared to net income of 117 million dollars with...

Business

Tapestry to cut 2,100 part-time jobs

Tapestry has announced a number of new measures to mitigate the impact of Covid-19 on the company which include cutting part-time jobs and slashing corporate salaries. The group, which owns brands Coach, Kate Spade and Stuart Weitzman, said it would be reducing its North America workforce by around 2,100 part-time roles across its stores,...

People

Tapestry appoints John Bilbrey to its board of directors

Tapestry, Inc. has appointed John P. (J.P.) Bilbrey to the company’s board of directors. The company said in a statement that this appointment of Bilbrey to the board brings the membership to eight. Commenting on Bilbrey’s appointment to the board, Jide Zeitlin, Chairman and Chief Executive Officer of Tapestry, Inc., said: “John brings to our...

Fashion

Tapestry extends store closures, suspends dividend and share repurchase

Tapestry, Inc., owner of Coach, Kate Spade and Stuart Weitzman brands, has decided to extend store closures in North America and Europe for an additional two weeks through April 10, 2020. The company has announced that it will be donating 15,000 masks to hospitals in the US, the UK and Spain, with additional masks expected to be delivered in...

Business

Tapestry closes all stores in response to COVID-19 outbreak

Tapestry, Inc. is closing temporarily closing all directly operated Coach, Kate Spade and Stuart Weitzman stores in North America and Europe to help reduce the spread of COVID-19. The company said, stores will be closed through March 27, at which time it will determine the appropriate next steps in light of the environment. The company added...