earnings
confidence high
sentiment positive
materiality 0.85
Tapestry Q4 non-GAAP EPS $0.92 beats; FY2024 record non-GAAP EPS $4.29; FY2025 outlook $4.45-$4.50
TAPESTRY, INC.
2024-FY EPS reported
$3.50
revenue$6,671,200,000
- Q4 net sales $1.59B (flat constant currency); FY2024 revenue $6.67B (+1% constant currency); gross margin 73.3% (up 250bps).
- FY2024 non-GAAP diluted EPS $4.29 (record, +10.6% YoY); operating cash flow $1.26B, free cash flow $1.15B.
- Coach brand FY2024 revenue $5.095B (record, +4% constant currency); Kate Spade -5%, Stuart Weitzman -13%.
- FY2025 guidance: revenue ~$6.7B, non-GAAP EPS $4.45-$4.50, operating margin +50bps, free cash flow ~$1.1B.
- Capri acquisition: $6.1B senior notes issued; FTC lawsuit filed Apr.22; company confident to close calendar 2024.