Tapestry Q1 FY2027: revenue up 11%, EPS up 38%, outlook raised
Tapestry beat its own guidance on revenue, gross margin, operating margin and EPS, then raised the full year, so this quarter is momentum plus a higher bar. Revenue rose 11.0% to $1.89 billion, gross margin reached 78.6%, and non-GAAP EPS of $1.82 was 32.0% higher. Read the scorecard for the quality of the beat, then the guidance and balance sheet for what could go wrong.
1 · Expected vs. Actual
Free preview belowGAAP diluted EPS was $1.76 versus $1.28, up 38.0%, and non-GAAP was $1.82 versus $1.38, up 32.0%. The $0.06 gap is distribution network costs, mainly moving the Ohio fulfillment center to a third-party site in Pennsylvania. Operating margin of 22.4%, or 23.2% non-GAAP, carries the story: gross margin expanded 230 basis points, including a 70 basis point benefit from tariffs and duties.
Revenue of $1.89 billion rose 11.0% from $1.71 billion, and 12.0% after excluding last year's Stuart Weitzman sales. Coach did the work at $1.66 billion, up 16.0%, while Kate Spade fell 10.0% to $233 million. Growth was geographic as well as brand-led: Greater China rose 39.0% and Europe 22.0% in constant currency, against 4.0% in North America.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-05
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