secwatch.observer — SEC 8-K summary
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Issuer:     TAPESTRY, INC. (TPR)
CIK:        0001116132
Form:       8-K
Filed at:   2023-05-11T23:59:59+00:00
Accession:  0001157523-23-000816
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Tapestry Q3 net sales $1.51B (+5%) and EPS $0.78 beat; raises FY2023 EPS outlook to $3.85-$3.90
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- Q3 revenue $1.51B (+5% reported, +9% constant currency); gross margin 72.8% (+290 bps YoY).
- Diluted EPS $0.78 vs $0.46 prior year (non-GAAP prior year $0.51); raised FY2023 EPS guidance to $3.85-$3.90.
- International revenue grew ~20% constant currency; Greater China up ~20%; North America low-single-digit gain.
- Returning $1B to shareholders in FY2023: $700M share repurchases, $300M dividends ($1.20 annual, +20%).
- Inventory up only 2% YoY; free cash flow Q3 inflow $71M vs outflow $55M prior year.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1116132/000115752323000816/0001157523-23-000816-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1116132/000115752323000816/a53397141.htm
  HTML page:      https://secwatch.observer/filing/0001157523-23-000816

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