earnings
confidence high
sentiment positive
materiality 0.85
Tapestry Q2 revenue $2.14B (+27% YoY), non-GAAP EPS $1.33 beat; raises FY22 guidance
TAPESTRY, INC.
2022-Q2 EPS reported
$1.94
revenue$3,622,100,000
- Record holiday revenue; Coach, Kate Spade, Stuart Weitzman all grew; digital sales up ~30% YoY.
- GAAP EPS $1.15, non-GAAP EPS $1.33; gross margin 68.1% with 320bps freight headwind.
- FY22 revenue guidance raised to ~$6.75B (from $6.6B); EPS raised to $3.60-3.65 (from $3.45-3.50).
- Share repurchase program expanded to $1.25B; total shareholder return expected >$1.5B.
- Q2 repurchased $500M of stock at avg $42.54; $850M remains on authorization.