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Tapestry Inc - Stock Quote TPR

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Morningstar's Tapestry Inc Stock Analysis

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Is it the right time to buy or sell?

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A Resurgent Luxury Market and Coach’s Brand Power Are Propelling Narrow-Moat Tapestry

David Swartz Equity Analyst

Business Strategy and Outlook

| David Swartz |

We think Tapestry has successfully restructured Coach (74% of fiscal 2021 revenue) but needs to prove the value of Kate Spade and Stuart Weitzman. Due to the pandemic, all three of Tapestry’s brands suffered sales and operating profit declines in parts of the last two fiscal years, but results have been improving rapidly as it implements its three-year Acceleration Program strategy to cut costs and improve margins and as handbag pricing has risen.

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Tapestry Inc's Company Profile

Business Description

Coach, Kate Spade, and Stuart Weitzman are the fashion and accessory brands that comprise Tapestry. The firm’s products are sold through about 1,400 company-operated stores, wholesale channels, and e-commerce in North America (62% of fiscal 2021 sales), Europe, Asia (33% of fiscal 2021 sales), and elsewhere. Coach (74% of fiscal 2021 sales) is best known for affordable luxury leather products. Kate Spade (21% of fiscal 2021 sales) is known for colorful patterns and graphics. Women’s handbags and accessories produced 70% of Tapestry's sales in fiscal 2021. Stuart Weitzman, Tapestry's smallest brand, generates nearly all (99%) of its revenue from women’s footwear.

10 Hudson Yards
New York, NY, 10001
T +1 212 946-8400
Industry Luxury Goods
Most Recent Earnings Mar 31, 2022
Fiscal Year End Jul 2, 2022
Stock Type Cyclical
Employees 16,400

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