Tapestry Q1 revenue $1.51B (+2% YoY) record; EPS $0.79 ahead of guidance

TAPESTRY, INC.

2023-Q1 EPS reported $0.79 revenue$1,506,500,000

Diluted EPS $0.79 vs. prior year $0.80 (reported) and $0.82 (non-GAAP); beat guidance.
Revenue $1.51B, up 2% reported, >5% constant currency; international up 11% constant currency, Greater China -11%.
Gross margin 70.0% (down 2.2pp) due to $20M freight and FX; SG&A 53.1% of sales vs 52.2% prior.
FY2023 guidance: revenue $6.5-6.6B; EPS $3.60-3.70, including $0.50 FX headwind; expects $1B shareholder return.
Returned $175M to shareholders in Q1 via buybacks ($100M) and dividends; annual dividend raised 20% to $1.20/share.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TAPESTRY, INC. reported first fiscal quarter ended October 1, 2022 results: revenue $1.5 billion, net income $195 million, EPS $0.79. Guidance reaffirmed.

Period: first fiscal quarter ended October 1, 2022
Revenue: $1.5 billion
Net income: $195 million
EPS: $0.79
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Tapestry, Inc. Reports Fiscal 2023 First Quarter Results Delivered Record First Quarter Revenue of $1.5 Billion, an Increase of 2% Versus Prior Year on a Reported Basis and Over 5% in Constant Currency Fueled International Growth of 4% Versus Prior Year on a Reported Basis and 11% in Constant Currency Achieved Diluted EPS of $0.79, Ahead of Guidance

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Source: SEC EDGAR

accession 0001157523-22-001586

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