Tapestry Q2 diluted EPS $1.36 beats; raises FY2023 EPS guidance to $3.70-$3.75

TAPESTRY, INC.

2023-Q2 EPS reported $2.14 revenue$3,531,900,000

Revenue $2.03B (-5% reported, -2% constant currency); record Q2 diluted EPS $1.36 vs $1.15 prior year.
Gross margin 68.6% (up 50bps); operating margin 20.6% (down 100bps due to FX headwinds).
Returned $272M to shareholders in Q2 via buybacks ($200M) and dividends; on track for $1B in FY2023.
Greater China revenue declined 20% constant currency due to COVID; quarter-to-date trends improving significantly.
Raised FY2023 EPS guidance to $3.70-$3.75 from prior; revenue ~$6.6B (slight decrease reported, +2-3% CC).

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

TAPESTRY, INC. reported the fiscal second quarter ended December 31, 2022 results: revenue $2.03 billion, EPS $1.36. Guidance raised.

Period: the fiscal second quarter ended December 31, 2022
Revenue: $2.03 billion
EPS: $1.36
Guidance: raised
Result: reported results

Exact text from the filing

in the quarter and $444 million year-to-date through a combination of share repurchases and dividends. Overview of Fiscal 2023 Second Quarter Financial Results Net sales totaled $2.03 billion compared to $2.14 billion in the prior year, representing a reported year-over-year decrease of approximately 5%. Excluding a 380 basis point headwind from currency due to the

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Source: SEC EDGAR

accession 0001157523-23-000220

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