Tapestry reports record FY23 EPS $3.88, raises dividend 17%, provides FY24 guidance

TAPESTRY, INC.

2023-FY EPS reported $3.88 revenue$6,660,900,000

Record FY23 diluted EPS $3.88, up 22% from $3.17; Q4 EPS $0.95, up 27% YoY.
Q4 gross margin 72.4% (+350 bps); FY23 gross margin 70.8% (+120 bps).
FY23 revenue $6.66B, flat reported (+3% constant currency); Q4 revenue $1.62B.
Returned ~$1B to shareholders in FY23: $700M buybacks, $283M dividends.
FY24 guidance: revenue ~$6.9B (+3-4%), EPS $4.10-$4.15; dividend raised 17% to $1.40 annual; buybacks suspended.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.98

TAPESTRY, INC. reported fourth fiscal quarter ended July 1, 2023 results: revenue $1.62 billion, net income $224 million, EPS $0.95.

Period: fourth fiscal quarter ended July 1, 2023
Revenue: $1.62 billion
Net income: $224 million
EPS: $0.95
Result: reported results

Exact text from the filing

Delivers Record EPS in Fiscal Year 2023 Drove Significant Operating Margin Expansion in the Fourth Quarter Fueled by a Gross Margin Increase of 350 Basis Points Versus Last Year Increased Fourth Quarter Diluted EPS by over 20% Versus Last Year to $0.95 Achieved Record Diluted EPS of $3.88 in Fiscal 2023, Growing at a Double-Digit Rate Versus Last Year Returned Approximately $1 Billion to Shareholders in Fiscal 2023 Supported by Strong Free Cash Flow Board of Directors Raised Dividend by 17% to an Expected Annual Rate of $1.40 per Share Link to Download Tapestry’s Q4 and Fiscal Year 2023 Earnings Presentation, Including Brand Highlights NEW YORK--(BUSINESS WIRE)--August 17, 2023--Tapestry, Inc.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.98

TAPESTRY, INC. reported full year ended July 1, 2023 results: EPS $3.88.

Period: full year ended July 1, 2023
EPS: $3.88
Result: reported results

Exact text from the filing

Achieved Record Diluted EPS of $3.88 in Fiscal 2023

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Source: SEC EDGAR

accession 0001157523-23-001344

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