Tapestry Q1 revenue $1.51B, adj. EPS $0.93 (+18%), record; maintains FY2024 EPS $4.10-$4.15

TAPESTRY, INC.

2024-Q1 EPS reported $0.84 revenue$1,513,200,000

Revenue $1.51B slightly above prior year; international up 7% constant currency led by Japan (+12%) and Greater China (+9%).
Diluted EPS $0.84 reported, $0.93 non-GAAP (up 18% YoY); gross margin 72.5%, up 250 bps on lower freight and ops gains.
Inventory down 17% YoY to $943M; operating cash flow $75M inflow vs $170M outflow prior year.
Quarterly dividend $0.35 declared, payable Dec 26; annual rate raised 17% to $1.40/share.
Capri acquisition: shareholder approval obtained, FTC 2nd request received; close expected in calendar 2024; $200M+ synergies.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TAPESTRY, INC. reported financial results for first fiscal quarter ended September 30, 2023.

Period: first fiscal quarter ended September 30, 2023
Result: reported results

Exact text from the filing

Tapestry, Inc. ("Tapestry" or the "Company") issued a press release (the "Press Release") in which the Company announced its financial results for its first fiscal quarter ended September 30, 2023.

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TAPESTRY, INC. filing history →

Source: SEC EDGAR

accession 0001157523-23-001697

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