Stuart Weitzman news and archive

Tapestry Q1 ‘outperforms expectations’, ups fiscal 2025 outlook

Coach-owner Tapestry “outperformed expectations” for the first quarter of the year, according to CEO Joanne Crevoiserat, who said the results showcased “the brand magic and operational excellence that fuel our strategic growth agenda”. For the quarter ended September 28, 2024, the company’s net sales totaled 1.51 billion dollars, in-line with...

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Tapestry x Capri merger blocked: What does this mean for the ‘accessible’ fashion market?

On Thursday, October 24, a US judge opted to block Tapestry’s attempt to buy competitor Capri Holdings, with “loss of head-to-head competition” cited as the reasoning. The case, first brought forward in a lawsuit by the Federal Trade Commission (FTC), became high profile due to its involvement of notable executives and the fact that the merger...

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Coach parent Tapestry's Q4 earnings beat analysts' expectations

Tapestry, owner of Coach, Kate Spade, and Stuart Weitzman brands reported net income of 217 million dollars, with earnings per diluted share of 92 cents. Analysts surveyed by Bloomberg expected the company to report earnings per share of 88 cents. The company's net sales of 1.59 billion dollars, declined by 2 percent on a reported basis for the...

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Coach parent Tapestry posts Q3 revenues of 1.48 billion dollars

Tapestry’s third quarter net sales declined 2 percent to 1.48 billion dollars. Gross profit totaled 1.11 billion dollars, while gross margin was 74.7 percent. For fiscal 2024, the company forecasts revenue of over 6.6 billion dollars, approximately in-line with prior year on a reported basis and representing growth of approximately 1 percent on...

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Tapestry raises profit guidance on strong Q2

Tapestry’s net sales in the second quarter totaled 2.08 billion dollars, representing growth of 3 percent on both a reported and constant currency basis. Gross profit totaled 1.49 billion dollars, while gross margin was 71.6 percent, net income was 322 million dollars and earnings per diluted share were 1.39 dollars. On a non-GAAP basis, net...

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Coach owner Tapestry posts marginal sales growth

First quarter net sales at Tapestry totalled 1.51 billion dollars, slightly above the prior year. Excluding a 130 basis point headwind from currency due to the appreciation of the U.S. dollar revenue increased approximately 2 percent versus last year. Gross profit for the quarter was 1.10 billion dollars, while gross margin was 72.5 percent,...

Stuart Weitzman signs eyewear agreement with Safilo

Safilo Group and luxury footwear brand Stuart Weitzman have entered into an exclusive global licensing agreement, that runs through June 2029, for the design, manufacturing and distribution of Stuart Weitzman branded sunglasses and optical eyewear collections. “Building on our long history and successful collaboration with Tapestry, Inc. we are...

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Coach parent Tapestry posts increase in Q4 profit, sales remain flat

Coach owner Tapestry has reported widening profit in the fourth quarter despite its sales remaining flat. The group, which last week announced plans to acquire rival US fashion giant Capri Holdings, made a net profit of 224 million dollars in the three months ended July 1, up from 189 million dollars a year earlier. Sales in the fourth quarter...

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Coach parent Tapestry raises FY outlook on strong Q3

Luxury fashion group Tapestry has upped its full-year guidance after outperforming its own expectations in the third quarter of the year. The New York-based group, which owns brands Coach, Kate Spade, and Stuart Weitzman, reported a 5 percent increase in net sales to 1.51 billion dollars in the three months to April 1. The company saw strong...

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Tapestry appoints Alan Lau to its board of directors

Tapestry, Inc. has appointed Alan Lau to its board of directors. The appointment of Lau to the board brings the membership to eleven. Alan Lau is the chief business officer for Animoca Brands since July 2022. In this role, Lau oversees and provides support to the company’s more than 340 portfolio companies and leads M&A and business development....

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Coach owner Tapestry ups FY profit outlook

Luxury fashion group Tapestry has upped its full-year profit guidance after reporting record earnings in the second quarter. The New York-based group, which owns brands Coach, Kate Spade, and Stuart Weitzman, said it now expects earnings per diluted share (EPS) of between 3.70 dollars and 3.75 dollars, up from previous guidance of between 3.60...

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Coach parent Tapestry expects currency headwinds to impact FY23 results

For its first quarter Tapestry, Inc., parent to Coach, Kate Spade, and Stuart Weitzman, reported net sales of 1.51 billion dollars, an increase of approximately 2 percent. The company said, excluding a 370 basis point headwind from currency due to the appreciation of the U.S. dollar revenue rose over 5 percent versus last year. Gross profit...