Tapestry unveils 'Amplify' strategy, targets low-double-digit EPS growth, $3B buyback

TAPESTRY, INC.

New $3B share repurchase authorization replaces prior program; plans $4B total capital return through FY2028.
Long-term targets: mid-single-digit revenue growth annually, operating margin >22% by FY2028, low-double-digit EPS growth.
Coach brand expects mid-single-digit revenue CAGR; ambition to reach $10B in revenue. Kate Spade to return to growth in FY2027.
Dividend anticipated at $1.60/share in FY2026, growing at least in-line with earnings, payout ratio ~30%.
Adjusted free cash flow expected $4B cumulatively for FY2026-2028; FY2026 outlook unchanged.

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