Tapestry Inc Stock Research

Market Summary

USD42.40+2.67

Market Closed

6.72%

TPR Alerts

Big jump in Earnings (Y/Y)

TPR Stock Price

TPR RSI Chart

TPR Valuation

Market Cap

9.8B

Price/Earnings (Trailing)

10.91

Price/Sales (Trailing)

1.47

EV/EBITDA

10.19

Price/Free Cashflow

15.28

TPR Price/Sales (Trailing)

TPR Profitability

Operating Margin

69.27%

EBT Margin

15.67%

Return on Equity

36.17%

Return on Assets

11.53%

Free Cashflow Yield

6.54%

TPR Fundamentals

TPR Revenue

Revenue (TTM)

6.7B

Revenue Y/Y

5.01%

Revenue Q/Q

-25.47%

TPR Earnings

Earnings (TTM)

900.7M

Earnings Y/Y

52.16%

Earnings Q/Q

-43.41%

Price Action

52 Week Range

27.5347.48

(Low)(High)

Last 7 days

1.7%

Last 30 days

8.8%

Last 90 days

-4.6%

Trailing 12 Months

20.6%

TPR Financial Health

Current Ratio

1.87

Debt/Equity

0.71

Debt/Cashflow

0.39

TPR Investor Care

Dividend Yield

2.31%

Dividend/Share (TTM)

Buy Backs (1Y)

7.94%

Diluted EPS (TTM)

3.68

Peers (Alternatives to Tapestry)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
NKE	166.4B	50.6B	-14.96%	-11.68%	30.37	3.29	8.13%	-10.43%
LULU	44.6B	8.5B	-4.61%	20.77%	46.71	5.25	27.91%	-6.39%
DECK	12.6B	3.6B	-1.68%	74.85%	25.45	3.52	20.04%	18.55%
MID-CAP
TPR	9.8B	6.7B	8.83%	20.59%	10.91	1.47	-0.13%	3.85%
SKX	7.7B	7.4B	-2.88%	26.01%	20.52	1.03	17.98%	-49.69%
VFC	7.0B	11.7B	-17.45%	-64.35%	17	0.6	4.21%	-68.79%
CROX	6.8B	3.8B	-8.40%	79.42%	11.06	1.81	50.35%	-11.87%
CPRI	4.2B	5.6B	-7.88%	-26.40%	6.88	0.75	-0.62%	-25.06%
SHOO	2.5B	2.0B	-0.73%	-15.05%	11.43	1.22	-1.88%	12.86%
SMALL-CAP
WWW	1.2B	2.7B	-7.28%	-36.00%	-6.96	0.47	5.97%	-549.75%
VRA	155.4M	500.0M	-6.83%	-26.28%	-2.6	0.31	-7.49%	-434.87%
RCKY	142.2M	558.9M	-7.81%	-48.10%	11.17	0.25	-5.84%	-45.62%
UFI	139.6M	690.0M	-13.53%	-51.26%	-5.06	0.2	-11.83%	-209.82%
CULP	52.9M	230.4M	-20.37%	-22.66%	-1.61	0.23	-27.29%	-864.79%
FORD	10.5M	41.9M	1.96%	-27.27%	-4.18	0.25	-2.24%	-14787.37%

Financials for Tapestry

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Revenue	1.1%	6,666	6,594	6,710	6,685	6,675
Gross Profit	2.0%	4,661	4,568	4,636	4,650	4,697
S&GA Expenses	1.4%	3,525	3,476	3,507	3,472	-
EBITDA	3.6%	991	957	988	998	-
EBITDA Margin	5.5%	0.15*	0.14*	0.15*	0.15*	-
Earnings Before Taxes	6.9%	1,105	1,033	1,007	1,047	1,061
EBT Margin	4.5%	0.16*	0.15*	0.16*	0.16*	-
Interest Expenses	16.0%	-42.00	-50.00	-58.70	-63.20	-
Net Income	7.6%	901	837	825	856	867
Net Income Margin	3.2%	0.13*	0.12*	0.13*	0.13*	-
Free Cahsflow	-9.9%	517	573	759	873	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Assets	-3.8%	6,984	7,258	7,080	7,265	7,338
Current Assets	-11.2%	2,219	2,499	2,387	2,574	2,559
Cash Equivalents	-23.2%	637	830	527	790	806
Inventory	-4.3%	934	976	1,140	994	913
Goodwill	-0.3%	1,245	1,249	1,221	1,242	1,268
Liabilities	-4.5%	4,721	4,945	4,825	4,980	4,803
Current Liabilities	-14.4%	1,146	1,339	1,308	1,469	1,733
Long Term Debt	-0.4%	1,642	1,648	1,653	1,659	1,190
LT Debt, Current	0%	25.00	25.00	25.00	31.00	400
Shareholder's Equity	-2.2%	2,263	2,313	2,255	2,286	2,535
Retained Earnings	-7.9%	-1,170	-1,085	-1,143	-1,166	-943
Additional Paid-In Capital	1.0%	3,649	3,614	3,590	3,620	3,594
Shares Outstanding	-1.8%	232	236	241	241	252

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Cashflow From Operations	25.3%	812	648	661	853	996
Share Based Compensation	1.8%	75.00	74.00	72.00	72.00	71.00
Cashflow From Investing	-56.0%	125	283	322	-253	-384
Cashflow From Financing	19.0%	-1,078	-1,330	-1,658	-1,778	-1,445
Dividend Payments	1.7%	276	271	268	264	203
Buy Backs	-25.9%	852	1,150	1,445	1,600	1,250

Risks for TPR

What is the probability of a big loss on TPR?

91.5%

Probability that Tapestry stock will be more than 20% underwater in next one year

61.1%

Probability that Tapestry stock will be more than 30% underwater in next one year.

37.7%

Probability that Tapestry stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does TPR drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Tapestry was unfortunately bought at previous high price.

Drawdowns

Returns for TPR

Cumulative Returns on TPR

-0.5%

10-Year Cumulative Returns

3.7%

7-Year Cumulative Returns

1.2%

5-Year Cumulative Returns

43.9%

3-Year Cumulative Returns

What are the long-term rolling returns for TPR?

FIve years rolling returns for Tapestry.

Annualized Returns

Which funds bought or sold TPR recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-06-01	MACQUARIE GROUP LTD	reduced	-1.78	1,656,000	16,452,000	0.02%
2023-05-30	Aspire Private Capital, LLC	reduced	-14.69	-23,368	660,341	0.22%
2023-05-26	ProShare Advisors LLC	added	10.79	438,144	2,161,490	0.01%
2023-05-26	SHEETS SMITH WEALTH MANAGEMENT	unchanged	-	93,110	798,009	0.12%
2023-05-26	ALTERNA WEALTH MANAGEMENT, INC	new	-	202,401	202,401	0.25%
2023-05-25	Brandywine Global Investment Management, LLC	added	122	15,720,100	26,101,000	0.10%
2023-05-24	Old North State Trust, LLC	unchanged	-	-	1,000	-%
2023-05-23	ROYCE & ASSOCIATES LP	added	184	3,062,340	4,444,640	0.04%
2023-05-23	Brookfield Corp /ON/	added	186	2,267,000	3,279,900	0.01%
2023-05-23	Toroso Investments, LLC	added	285	1,051,000	1,364,000	0.02%

Latest Funds Activity

Are funds buying TPR calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own TPR

No. of Funds

TPR Alerts

Big jump in Earnings (Y/Y)

Tapestry News

Schedule 13G FIlings of Tapestry

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 09, 2023	fmr llc	-	0	SC 13G/A
Feb 09, 2023	vanguard group inc	12.65%	30,478,112	SC 13G/A
Feb 01, 2023	blackrock inc.	6.5%	15,649,867	SC 13G/A
Jan 27, 2023	jpmorgan chase & co	6.1%	14,765,605	SC 13G/A
Feb 09, 2022	fmr llc	-	0	SC 13G/A
Feb 03, 2022	blackrock inc.	6.3%	17,203,942	SC 13G/A
Jan 28, 2022	jpmorgan chase & co	6.7%	18,469,495	SC 13G
Feb 16, 2021	state street corp	3.77%	10,447,420	SC 13G/A
Feb 16, 2021	price t rowe associates inc /md/	0.3%	878,740	SC 13G/A
Feb 10, 2021	vanguard group inc	10.25%	28,436,610	SC 13G/A

TPR Fair Value

Show Fair-Value

Recent SEC filings of Tapestry

View All Filings

Date Filed	Form Type	Document
Jun 02, 2023	4	Insider Trading
May 31, 2023	SD	SD
May 19, 2023	8-K/A	Current Report
May 11, 2023	8-K	Current Report
May 11, 2023	10-Q	Quarterly Report
Apr 13, 2023	8-K	Current Report
Apr 13, 2023	4	Insider Trading
Apr 13, 2023	3	Insider Trading
Mar 03, 2023	4	Insider Trading

Latest Insider Trading transactions for TPR

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-04-12	Lau Alan Ka Ming	acquired	85,016	41.29	2,059	-
2023-03-02	Fraser Elizabeth	sold (taxes)	-54,486	43.87	-1,242	ceo & brand pres. kate spade
2023-02-14	Dadlani Manesh	gifted	-	-	-200	vp, controller and pao
2022-12-02	Dadlani Manesh	acquired	146,832	20.97	7,002	vp, controller and pao
2022-12-02	Dadlani Manesh	sold	-60,954	38.53	-1,582	vp, controller and pao
2022-12-02	Dadlani Manesh	sold (taxes)	-208,833	38.53	-5,420	vp, controller and pao
2022-11-15	Gates Anne	acquired	85,001	34.98	2,430	-
2022-11-15	Denton David M	acquired	85,001	34.98	2,430	-
2022-11-15	CAVENS DARRELL	acquired	85,001	34.98	2,430	-
2022-11-15	Faber Johanna W.	acquired	85,001	34.98	2,430	-

About Tapestry

Joanne C. Crevoiserat

www.coach.com

16400

Tapestry, Inc. provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers women's accessories, including handbags, such as wallets, money pieces, wristlets, and cosmetic cases; novelty accessories comprising address books, time management and travel accessories, sketchbooks, and portfolios; and key rings and charms. It also provides bag collections, including business cases, computer bags, messenger-style bags, backpacks, and totes; small leather goods, such as wallets, card cases, travel organizers, and belts; and footwear, watches, sunglasses, novelty accessories, and ready-to-wear for men. In addition, the company offers women's footwear; sunglasses; bracelets, necklaces, rings, and earrings; fragrances and watches; women's seasonal lifestyle apparel collections that include outerwear and ready-to-wear, and cold weather accessories, which comprise gloves, scarves, and hats. Further, it provides footwear items; and housewares and home accessories for kids, such as fashion bedding and tableware; and stationery and gifts. Additionally, the company licenses rights to market and distribute its jewelry, eyewear, watches, fragrances, and tech accessories under the Coach brand; and fashion beddings, tableware and housewares, eyewear, watches, stationery and gifts, and tech accessories under the Kate Spade brand. As of July 3, 2021, it operated through a network of 939 Coach stores, 407 Kate Spade stores, and 104 Stuart Weitzman stores. The company sells its products through e-commerce sites and concession shop-in-shops, and wholesale customers, as well as through independent third-party distributors. The company was formerly known as Coach, Inc. and changed its name to Tapestry, Inc. in October 2017. Tapestry, Inc. was founded in 1941 and is based in New York, New York.

TPR Income Statement

2023-04-01

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Apr. 01, 2023	Apr. 02, 2022	Apr. 01, 2023	Apr. 02, 2022
Income Statement [Abstract]
Net sales	$ 1,509.5	$ 1,437.5	$ 5,041.4	$ 5,059.6
Cost of sales	411.2	432.4	1,499.2	1,528.4
Gross profit	1,098.3	1,005.1	3,542.2	3,531.2
Selling, general and administrative expenses	872.0	835.6	2,643.4	2,603.9
Operating income (loss)	226.3	169.5	898.8	927.3
Loss on extinguishment of debt	0.0	0.0	0.0	53.7
Interest expense, net	6.1	14.8	21.4	46.8
Other expense (income)	(3.0)	3.0	1.1	8.3
Income (loss) before provision for income taxes	223.2	151.7	876.3	818.5
Provision (benefit) for income taxes	36.5	29.0	164.4	151.0
Net income (loss)	$ 186.7	$ 122.7	$ 711.9	$ 667.5
Net income (loss) per share:
Basic (USD per share)	$ 0.80	$ 0.47	$ 2.99	$ 2.47
Diluted (USD per share)	$ 0.78	$ 0.46	$ 2.93	$ 2.42
Shares used in computing net income (loss) per share:
Basic (shares)	234.6	259.9	238.4	269.7
Diluted (shares)	239.7	265.5	243.2	275.9

TPR Balance Sheet

2023-04-01

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Apr. 01, 2023	Jul. 02, 2022
Current Assets:
Cash and cash equivalents	$ 637.2	$ 789.8
Short-term investments	14.6	163.4
Trade accounts receivable, less allowances for credit losses of $6.2 and $3.7, respectively	240.8	252.3
Inventories	934.1	994.2
Income tax receivable	203.0	217.2
Prepaid expenses	120.2	105.2
Other current assets	69.0	51.7
Total current assets	2,218.9	2,573.8
Property and equipment, net	578.2	544.4
Operating lease right-of-use assets	1,363.8	1,281.6
Goodwill	1,245.3	1,241.5
Intangible assets	1,361.8	1,366.6
Deferred income taxes	45.0	47.9
Other assets	171.4	209.5
Total assets	6,984.4	7,265.3
Current Liabilities:
Accounts payable	331.0	520.7
Accrued liabilities	495.4	628.2
Current portion of operating lease liabilities	294.7	288.7
Current debt	25.0	31.2
Total current liabilities	1,146.1	1,468.8
Long-term debt	1,641.6	1,659.2
Long-term operating lease liabilities	1,332.0	1,282.3
Deferred income taxes	219.8	221.7
Long-term income taxes payable	63.5	95.3
Other liabilities	318.0	252.5
Total liabilities	4,721.0	4,979.8
See Note 14 on commitments and contingencies
Stockholders' Equity:
Preferred stock: (authorized 25.0 million shares; $0.01 par value per share) none issued	0.0	0.0
Common stock: (authorized 1.0 billion shares; $0.01 par value per share) issued and outstanding - 231.8 million and 241.2 million shares, respectively	2.3	2.4
Additional paid-in-capital	3,649.2	3,620.2
Retained earnings (accumulated deficit)	(1,170.5)	(1,166.2)
Accumulated other comprehensive income (loss)	(217.6)	(170.9)
Total stockholders' equity	2,263.4	2,285.5
Total liabilities and stockholders' equity	$ 6,984.4	$ 7,265.3