secwatch.observer — SEC 8-K summary
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Issuer:     TAPESTRY, INC. (TPR)
CIK:        0001116132
Form:       8-K
Filed at:   2024-05-09T23:59:59+00:00
Accession:  0001140361-24-025044
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Tapestry Q3 adjusted EPS $0.81 beats expectations; gross margin +190 bps; FY24 EPS outlook $4.20-$4.25
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- Adjusted EPS $0.81 on revenue $1.48B (-2% YoY); gross margin 74.7% (+190 bps) on lower freight and FX tailwinds.
- International revenue +3% constant currency; Europe +19%, Japan +2%; Greater China -2%; North America -3%.
- YTD operating cash flow $1.00B and free cash flow $937M, well above prior year ($575M and $425M respectively).
- Quarterly dividend $0.35/share declared (payable June 24, 2024); annual rate $1.40 (+17% YoY).
- FTC filed suit to block Capri acquisition; Tapestry remains confident in closing by calendar 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1116132/000114036124025044/0001140361-24-025044-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1116132/000114036124025044/ef20028651_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-24-025044

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer