secwatch.observer — SEC 8-K summary
======================================

Issuer:     TAPESTRY, INC. (TPR)
CIK:        0001116132
Form:       8-K
Filed at:   2022-11-10T23:59:59+00:00
Accession:  0001157523-22-001586
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1116132/000115752322001586/0001157523-22-001586-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1116132/000115752322001586/a52965818.htm
  HTML page:      https://secwatch.observer/filing/0001157523-22-001586

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer