Tapestry, Inc.

Company facts

Industry

Leather & Leather Products

Headquarters

New York, New York

Most recent report

10-K, filed Aug 13, 2026

Incorporated

Maryland

Filings on record

1,004+ filings

On EDGAR

CIK 1116132

Fiscal year ends

June

Filer status

Large accelerated filer

What to read: FY2026 10-K

SECSift found 4 of 27 sections worth reading, with 2 positive, 13 notable, and 4 negative flags.

• Business (Item 1)

  Stuart Weitzman sold, Kate Spade shrinking, new Amplify strategy; large product and store data.
  Notable

  • Stuart Weitzman sold August 4, 2025; contributed only $14.6M in FY2026 vs $215.1M in FY2025.
  • New 'Amplify' growth strategy for 2028 launched in Q1 FY2026, replacing the prior 'futurespeed' plan.
  • Coach eyewear license with Luxottica expired but is expected to renew in fiscal 2027.
  • Marketing spend hit $962.5M (12% of sales) in FY2026, up from $744.5M (11%) in FY2025.
  • Employees grew to about 20,600 in FY2026 from 19,000 in FY2025, adding 1,600 staff.

• Risk Factors (Item 1A)

  Many new quantified risks: tariffs, buyback, dividend, debt covenant, new strategy.
  Notable

  • Paid $117M in IEEPA tariffs, received $2.1M refund Q4 FY2026, recorded $114.7M probable receivable.
  • Introduced 2028 growth strategy 'Amplify' in Q1 FY2026 with four pillars; no assurance of success.
  • Entered $2.00 billion commercial paper program on July 24, 2025, backed by revolving credit facility.
  • Board authorized $3.00 billion share repurchase program on September 10, 2025, replacing $561.7M remaining from old program.
  • Quarterly dividend raised to $0.40 per share ($1.60 annual), totaling $326.1 million in FY2026, up from $0.35.
  Negative

  • Tariff uncertainty continues after Supreme Court invalidated IEEPA; new Section 122 (10%) and Section 301 tariffs (10-12.5%) imposed, FY2026.

• Management's Discussion (Item 7)

  MD&A with revenue growth, segment divergence, tariff refund, buyback, and impairment risk.
  Positive

  • Coach net sales up 23.5% to $6.91B in FY2026; non-GAAP operating margin up 230 bps to 35.8%.
  • Operating cash flow increased $762M to $1.98B in FY2026, driven by higher net income.
  Notable

  • Board authorized $3.0B share repurchase program; company repurchased $1.35B of common stock in FY2026.
  Negative

  • Kate Spade net sales fell 10.2% to $1.07B in FY2026; non-GAAP operating loss of $27.2M vs profit of $91.3M a year ago.
  • Kate Spade brand fair value exceeded carrying by only ~30% in FY2026; a decline could trigger impairment.

• Form 10-K Summary (Item 16)

  Full financials and notes with key results, impairments, sale, and risks.
  Notable

  • Stuart Weitzman sold Aug 2025 for $109M, recording a $22M pre-tax loss.
  • Securities class action filed over Capri merger disclosures; company moved to dismiss.
  Negative

  • Kate Spade goodwill ($381.9M) and brand intangible ($699.1M) remain material; auditor critical audit matter.

What changed: FY2026 vs. FY2025

About 15% of TPR's FY2026 10-K is new information. 142 paragraphs were added, 390 changed, and 216 removed. Below are the most important lines SECSift identified.

• Form 10-K Summary (Item 16) 170
• Management's Discussion (Item 7) 113
• Risk Factors (Item 1A) 70
• Business (Item 1) 50
• Exhibits (Item 15) 41
• Market Risk (Item 7A) 8
• Controls and Procedures (Item 9A) 5
• Market for the Stock (Item 5) 4
• Properties (Item 2) 3