secwatch.observer — SEC 8-K summary
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Issuer:     TAPESTRY, INC. (TPR)
CIK:        0001116132
Form:       8-K
Filed at:   2023-11-09T23:59:59+00:00
Accession:  0001157523-23-001697
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1116132/000115752323001697/0001157523-23-001697-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1116132/000115752323001697/a53774140.htm
  HTML page:      https://secwatch.observer/filing/0001157523-23-001697

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