secwatch.observer — SEC 8-K summary
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Issuer:     TAPESTRY, INC. (TPR)
CIK:        0001116132
Form:       8-K
Filed at:   2022-05-12T23:59:59+00:00
Accession:  0001157523-22-000624
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Tapestry Q3 revenue $1.44B (+13%), EPS $0.51 non-GAAP beat; announces $1.5B buyback
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- Q3 revenue $1.44B (+13% YoY); GAAP EPS $0.46, non-GAAP EPS $0.51 significantly ahead of expectations.
- Gross margin 69.9% down 170bps due to $63M incremental freight; operating margin 12.2% non-GAAP.
- Board approves new $1.5B share repurchase; total FY2022 shareholder returns expected ~$1.9B (up from $1.5B).
- Q3 bought back $500M at $37.06/sh, 13M shares; FY2022 buyback forecast raised to $1.6B.
- FY2022 guidance: revenue ~$6.7B, non-GAAP EPS ~$3.45; China COVID headwind estimated $0.25-$0.30.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1116132/000115752322000624/0001157523-22-000624-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1116132/000115752322000624/a52716280.htm
  HTML page:      https://secwatch.observer/filing/0001157523-22-000624

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