Tapestry sells Stuart Weitzman to Caleres for $105M cash

TAPESTRY, INC.

Total cash consideration of $105M, subject to customary adjustments for cash, debt, working capital.
Buyer is Caleres (NYSE: CAL); transaction expected to close in summer 2025.
Tapestry CEO cites disciplined capital allocation and focus on Coach and Kate Spade growth.
Caleres will integrate Stuart Weitzman into its Brand Portfolio segment; expects profitable operation post-integration.
Morgan Stanley advised Tapestry; BofA Securities advised Caleres.

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