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Tapestry Inc (TPR.N)

TPR.N on New York Stock Exchange

44.61USD
23 May 2018
Change (% chg)

$0.68 (+1.55%)
Prev Close
$43.93
Open
$43.90
Day's High
$44.85
Day's Low
$43.90
Volume
886,914
Avg. Vol
711,984
52-wk High
$55.50
52-wk Low
$38.71

Latest Key Developments (Source: Significant Developments)

Announces Departure Of Stuart Weitzman Creative Director
Tuesday, 22 May 2018 

May 21 (Reuters) - Tapestry Inc ::ANNOUNCES DEPARTURE OF STUART WEITZMAN CREATIVE DIRECTOR.TAPESTRY INC - COMMENCED A SEARCH FOR A NEW CREATIVE LEADER.TAPESTRY - RESIGNATION OF STUART WEITZMAN CREATIVE DIRECTOR GIOVANNI MORELLI.  Full Article

Tapestry, Inc. Declares Quarterly Cash Dividend
Thursday, 17 May 2018 

May 17 (Reuters) - Tapestry Inc ::TAPESTRY, INC. DECLARES QUARTERLY CASH DIVIDEND.SETS QUARTERLY CASH DIVIDEND OF $0.3375PER SHARE.  Full Article

Tapestry Appoints Eraldo Poletto CEO & Brand President, Stuart Weitzman
Tuesday, 17 Apr 2018 

April 17 (Reuters) - Tapestry Inc ::TAPESTRY APPOINTS ERALDO POLETTO CEO & BRAND PRESIDENT, STUART WEITZMAN.TAPESTRY INC - ERALDO POLETTO EXPECTED TO JOIN ON APRIL 30, 2018, WILL SUCCEED WENDY KAHN.TAPESTRY - POLETTO MOST RECENTLY HELD ROLE OF CEO OF SALVATORE FERRAGAMO SPA.  Full Article

Tapestry Inc Says HK Stock Exchange Approved Withdrawal Of Listing Of HDRs
Thursday, 18 Jan 2018 

Jan 18 (Reuters) - Tapestry Inc ::STOCK EXCHANGE HAS APPROVED WITHDRAWAL OF LISTING OF HDRS ON STOCK EXCHANGE.WITHDRAWAL OF LISTING OF HDRS FROM STOCK EXCHANGE TO BECOME EFFECTIVE AT 9:00 A.M. (HONG KONG TIME) ON MARCH 2, 2018.DEALINGS IN HDRS ON STOCK EXCHANGE TO CEASE AT 4:00 P.M. (HONG KONG TIME) ON JAN. 30, 2018.STOCK EXCHANGE HAS APPROVED WITHDRAWAL OF LISTING OF HDRS ON HK STOCK EXCHANGE EFFECTIVE 2 MARCH 2018.  Full Article

Tapestry Inc Announces Board Approval For Withdrawal Of Listing Of HDRS On HK Stock Exchange
Friday, 1 Dec 2017 

Dec 1 (Reuters) - Tapestry Inc ::‍BOARD APPROVED PROPOSAL FOR WITHDRAWAL OF LISTING OF HDRS ON HONG KONG STOCK EXCHANGE.‍IF PROPOSAL APPROVED, WITHDRAWAL OF LISTING OF HDRS IS EXPECTED TO BECOME EFFECTIVE ON 2 MARCH 2018​.  Full Article

Tapestry says ‍board of directors has declared a quarterly cash dividend of $0.3375 per common share​
Wednesday, 15 Nov 2017 

Nov 15 (Reuters) - Tapestry Inc :Tapestry Inc - ‍board of directors has declared a quarterly cash dividend of $0.3375 per common share​.  Full Article

Tapestry's Q1 gross margins pressured on Kate Spade integration
Tuesday, 7 Nov 2017 

Nov 7 (Reuters) - Tapestry Inc :Tapestry CEO - Co on track to drive double-digit growth for the year at Stuart Weitzman -conf call.Tapestry CEO - Q1 gross margins were negatively impacted by about 130 basis points due to addition of Kate Spade -conf call.Tapestry - Q1 impacted by higher SG&A due to an increase in Coach brand expenses versus prior year on lower level of sales, addition of Kate Spade.Tapestry - Inventory levels at quarter-end were $853 million, including about $283 million associated with Kate Spade.Tapestry - Expect to reduce outstanding borrowings to $1.9 billion by end of fiscal 2018 with repayment of an $800 million, 6-month term loan with excess cash.Tapestry - experienced disruption to Jacksonville, Florida distribution center in Q1, which services all of co's North America business due to hurricanes.Tapestry Executive - "With those factors once in play (hurricanes, typhoons), we estimate that our global comp would've been positive in the quarter (Q1)".Tapestry CFO- Kate Spade's synergies are split evenly between cost of goods sold and SG&A of co.  Full Article

Hurricanes cause disruptions in Tapestry's Florida facility in Q1
Tuesday, 7 Nov 2017 

Nov 7 (Reuters) - Tapestry Inc :Tapestry- Movement of mid-autumn festival, reduced Chinese tourist flows, stockouts and shortages of certain products hurt sales in Q1 -conf call.Tapestry- Due to hurricanes in North America, typhoons in Asia experienced disruption to Jacksonville, Florida distribution center in Q1.Tapestry- Due to hurricanes there was disruption in Jacksonville, Florida distribution center in receiving shipments into facility and sending inventory out to stores.Tapestry - Q1 sales at POS declined due to the rapid impact of spring 2017 door closures.  Full Article

Tapestry reports Q1 earnings per share $0.42
Tuesday, 7 Nov 2017 

Nov 7 (Reuters) - Tapestry Inc :Tapestry, Inc. reports fiscal 2018 first quarter results.Q1 earnings per share $0.42.Q1 same store sales fell 2 percent.Q1 earnings per share view $0.36 -- Thomson Reuters I/B/E/S.Sees FY 2018 revenue up about 30 percent.Sees FY 2018 revenue $5.8 billion to $5.9 billion.Q1 sales $1.29 billion versus I/B/E/S view $1.31 billion.Q1 non-GAAP earnings per share $0.42.Tapestry Inc - ‍Maintains fiscal 2018 guidance​.Tapestry Inc - ‍Expect to achieve run-rate synergies of approximately $100 to $115 million in fiscal 2019 versus previous guidance of $50 million​.FY2018 earnings per share view $2.36, revenue view $5.86 billion -- Thomson Reuters I/B/E/S.Tapestry -‍ Coach comparable store sales impacted by both expected calendar shifts & inventory challenges, unanticipated natural disasters​ in quarter.Tapestry Inc - ‍Recorded charges of approximately $188 million, which relate to purchase and integration of Kate Spade​, in quarter on a reported basis.Tapestry Inc - Qtrly‍​ global comparable store sales declined 2% for Coach.Tapestry Inc - ‍Run-rate synergies of about $100 to $115 million in fiscal 2019 expected from Kate Spade acquisition​.  Full Article

Coach Inc to change its name to Tapestry Inc
Wednesday, 11 Oct 2017 

Oct 11 (Reuters) - Coach Inc :Coach, Inc. to change its name to Tapestry, Inc..Coach Inc - ‍announced that it will be changing its name to Tapestry Inc effective October 31​.Coach Inc - co's common stock, traded on new york stock exchange under symbol COH, will change to TPR on October 31​.  Full Article

UPDATE 1-Tapestry's Stuart Weitzman creative director Morelli resigns

May 21 Luxury accessories and apparel maker Tapestry Inc said on Monday that Giovanni Morelli, creative director of its Stuart Weitzman footwear brand, has resigned, citing unspecified behavior.