Stuart weitzman news and archive

Tapestry’s Q3 sales improve, cuts FY22 profit outlook

Net sales at Tapestry, Inc. totalled 1.44 billion dollars for the third quarter, a 13 percent increase compared to the same quarter in the prior year. The company is modifying its fiscal 2022 outlook due to an estimated headwind of 25 cents to 30 cents resulting from incremental Covid-related pressure in China and an anticipated negative impact...

12 May 2022

BusinessFeatured

Tapestry sales increase above pre-pandemic levels, raises outlook

Tapestry reported net sales of 2.14 billion dollars for the second quarter compared to 1.69 billion dollars in the prior year, representing a 27 percent increase. The company said in a release that sales rose 18 percent compared to pre-pandemic levels. Commenting on the second quarter trading, Joanne Crevoiserat, chief executive officer of...

10 Feb 2022

BusinessFeatured

Coach parent Tapestry posts strong Q1, raises outlook

Tapestry Increased revenue by 26 percent to 1.48 billion dollars compared to last year; while compared to pre-pandemic levels, revenue grew 9 percent, representing continued sequential topline improvement fueled by improvements across digital, stores and wholesale. Commenting on the first quarter results, Joanne Crevoiserat, chief executive...

11 Nov 2021

BusinessFeatured

Coach parent Tapestry reports 126 percent growth in Q4 sales

Fourth quarter net sales at Tapestry totaled 1.62 billion dollars, representing a 126 percent increase. On a 13-week basis, the company’s net sales increased 113 percent versus prior year and rose 1 percent as compared to pre-pandemic levels. The company said, net income for the quarter was 200 million dollars on a reported basis, with earnings...

19 Aug 2021

BusinessFeatured

Tapestry reports 19 percent sales increase, returns to profit

Net sales at Tapestry Inc. totalled 1.27 billion dollars for the third quarter compared to 1.07 billion dollars in the prior year, representing a 19 percent increase. Commenting on the third quarter results, Joanne Crevoiserat, chief executive officer of Tapestry, said: “Through a sharpened focus on the consumer, we fueled new customer...

6 May 2021

PeopleFeatured

Tapestry appoints Scott Roe as chief financial officer

Tapestry, Inc. has announced the appointment of Scott A. Roe, as chief financial officer, effective June 1, 2021. Roe, the company said, will have responsibility for all finance functions as well as leading the company’s strategy and consumer Insights teams. “As a leader, Scott is both dynamic and progressive, and believes in soliciting diverse...

29 Apr 2021

BusinessFeatured

Coach parent Tapestry posts 7 percent drop in Q2 sales

Coach parent Tapestry Net sales at Tapestry Inc. totalled 1.69 billion dollars for the second quarter compared to 1.82 billion dollars in the prior year, representing a 7 percent decline. Net income for the quarter was 311 million dollars on a reported basis, with earnings per diluted share of 1.11 dollars. This compared to net income of 299...

4 Feb 2021

BusinessFeatured

Tapestry beats analysts' revenue estimate for Q1

In its trading report for the first quarter, Tapestry, Inc. said net sales totalled 1.17 billion dollars, representing a 14 percent decline beating analysts’ average estimate of 1.07 billion dollars, according to IBES data from Refinitiv. The company said in a statement that gross profit reached 830 million dollars, while gross margin was 70.8...

29 Oct 2020

BusinessFeatured

Coach-parent Tapestry posts loss for Q4 and full year

Net sales at Coach-parent Tapestry Inc totalled 715 million dollars for the fourth quarter compared to 1.51 billion dollars in the prior year. The company said in a statement that gross profit totalled 499 million dollars on a reported basis, while gross margin for the quarter was 69.8 percent compared to 999 million dollars and 66 percent,...

13 Aug 2020

Business

Tapestry CEO Jide Zeitlin steps down, Joanne Crevoiserat named interim CEO

Tapestry, Inc. has announced the resignation of Jide Zeitlin, Chairman and Chief Executive Officer, effective immediately. As a result, the company said in a statement, Joanne Crevoiserat, chief financial officer, has been appointed Interim Chief Executive Officer of Tapestry, Inc. Commenting on the leadership changes, Susan Kropf, the company’s...

21 Jul 2020

Retail

Coach, Kate Spade and Stuart Weitzman stores to slowly reopen

Tapestry, Inc., owner of Coach, Kate Spade and Stuart Weitzman, has announced its plans for the phased reopening of stores throughout North America, Europe and other markets. By the end of the week, the luxury house expects over 300 Coach, Kate Spade and Stuart Weitzman stores in North America to offer curbside or store pickup service....

15 May 2020

Fashion Featured

Tapestry sales drop, net loss reaches 677 million dollars

Net sales at Tapestry Inc., totalled 1.07 billion dollars for the fiscal third quarter as compared to 1.33 billion dollars in the prior year. The company said in a statement that net loss for the quarter was 677 million dollars on a reported basis, with loss per diluted share of 2.45 dollars compared to net income of 117 million dollars with...

30 Apr 2020