TAPESTRY, INC.

Listed Company

TPRCIK 0001116132NYSELarge AcceleratedLeather & Leather ProductsMarylandFY ends Jun 27

Period

FY 2025

Revenue

$7.01B

Net Income

$183.20M

Total Assets

$6.58B

Equity

$857.80M

Shares Out

202.46M

Op. Cash Flow

$1.22B

Business

TAPESTRY, INC. is a global house of iconic accessories and lifestyle brands that develops, markets and sells distinctive branded consumer products. Its offerings include handbags, small leather goods and accessories, footwear, ready-to-wear, jewelry, eyewear, fragrance, home décor and licensed products, plus retail and brand services. The company reports three segments—Coach, kate spade new york and Stuart Weitzman—along with unallocated corporate expenses supporting brand operations. Products are distributed through direct-to-consumer channels (stores, outlets, e-commerce, shop‑in‑shops), wholesale partners and licensing relationships across North America, Greater China, Europe and other international markets.

Summary from filing dated 2025-08-14

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Net sales	7,011	6,671	6,661	6,685	5,746
Cost of sales	1,722	1,782	1,946	2,034	1,664
Gross profit	5,289	4,890	4,715	4,650	4,082
Other selling, general and administrative expenses	4,019	3,749	3,543	3,475	3,114
Impairment of goodwill and intangible assets	855	0	0	0	0
Operating income (loss)	415	1,140	1,172	1,176	968
Loss on extinguishment of debt	120	0	0	54	0
Interest expense, net	85	125	28	59	71
Other expense (income)	−7	3	2	16	−700,000
Income (loss) before provision for income taxes	216	1,012	1,143	1,047	897
Provision for income taxes	33	196	207	191	63
Net income (loss)	183	816	936	856	834
Basic (USD per share)	0.84	3.56	3.96	3.24	3
Diluted (USD per share)	0.82	3.5	3.88	3.17	2.95
Basic (shares)	217	229	236	264	278
Diluted (shares)	223	233	241	270	283

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Cash and cash equivalents	1,100	6,142	726	790	2,008
Short-term investments	20	1,062	15	163	8
Trade accounts receivable, less allowances for credit losses of $5.7 and $6.9, respectively	239	228	212	252	200
Inventories	861	825	920	994	735
Income tax receivable	277	236	231	217	255
Prepaid expenses	134	171	126	105	94
Other current assets	99	140	134	52	76
Assets held for sale	176	0	—	—	—
Total current assets	2,906	8,804	2,364	2,574	3,375
Property and equipment, net of accumulated depreciation of $1,215.0 and $1,263.3, respectively	490	515	565	544	678
Operating lease right-of-use assets	1,331	1,314	1,379	1,282	1,497
Goodwill	983	1,204	1,228	1,242	1,297
Intangible assets	720	1,354	1,360	1,367	1,373
Deferred income taxes	34	44	40	48	66
Other assets	118	162	182	210	96
Total assets	6,581	13,396	7,117	7,265	8,382
Accounts payable	456	452	417	521	445
Accrued liabilities	737	656	547	628	661
Current portion of operating lease liabilities	299	300	298	289	319
Current debt	17	303	25	31	0
Liabilities held for sale	48	0	—	—	—
Total current liabilities	1,557	1,712	1,287	1,469	1,426
Long-term debt	2,378	6,937	1,636	1,659	1,591
Long-term operating lease liabilities	1,206	1,224	1,334	1,282	1,526
Deferred income taxes	80	251	240	222	204
Other liabilities	503	375	300	253	250
Total liabilities	5,723	10,499	4,839	4,980	5,123
See Note 13 on commitments and contingencies	—	—	—	—	—
Preferred stock: (authorized 25.0 million shares; $0.01 par value) none issued	0	0	0	0	0
Common stock: (authorized 1.00 billion shares; $0.01 par value) issued and outstanding 208.1 million and 230.2 million shares, respectively	2	2	2	2	3
Additional paid-in-capital	3,674	3,763	3,682	3,620	3,487
Retained earnings (accumulated deficit)	−2,557	−722	−1,217	−1,166	−159
Accumulated other comprehensive income (loss)	−261	−146	−190	−171	−72
Total stockholders equity	858	2,897	2,278	2,286	3,259
Total liabilities and stockholders equity	6,581	13,396	7,117	7,265	8,382

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Depreciation and amortization	163	174	182	195	—
Impairment charges	855	0	0	0	46
Provision for bad debt	4	4	6	20	—
Share-based compensation	87	86	79	72	64
Amortization of cloud computing arrangements	62	55	42	11	—
Deferred income taxes	−140	3	41	30	53
Changes to lease related balances, net	−35	−43	−36	−53	−126
Other non-cash charges, net	−43	−7	−16	31	21
Trade accounts receivable	9	−37	44	−96	−10
Inventories	−108	86	50	−312	32
Accounts payable	−15	49	−98	86	307
Accrued liabilities	56	92	−93	−16	140
Other liabilities	4	−21	−61	−9	−17
Other assets	15	−100,000	−101	−31	−223
Net cash provided by (used in) operating activities	1,217	1,256	975	853	1,324
Purchases of investments	−1,886	−2,713	−7	−540	−700,000
Proceeds from maturities and sales of investments	2,923	1,676	155	381	2
Purchases of property and equipment	−123	−109	−184	−94	−116
Settlement of net investment hedge	0	104	42	0	0
Net cash provided by (used in) investing activities	914	−1,042	6	−254	−91
Payment of dividends	−299	−321	−283	−264	0
Repurchase of common stock	−1,719	0	−704	−1,600	0
Share repurchase not yet settled	−300	0	0	—	—
Proceeds from issuance of debt, net of discount	2,248	6,090	0	999	0
Payment of debt issuance costs	−13	−78	0	−5	0
Payment of debt extinguishment costs	−64	0	0	−51	0
Proceeds from share-based awards	156	27	39	75	61
Repayment of debt	−7,163	−469	−31	−900	−12
Taxes paid to net settle share-based awards	−37	−33	−56	−31	−8
Proceeds from revolving credit facility	1,017	0	0	0	0
Repayment of revolving credit facility	−1,000	0	0	—	—
Other financing activities	−1	−1	−1	−1	−8
Net cash provided by (used in) financing activities	−7,175	5,214	−1,036	−1,778	−666
Effect of exchange rate changes on cash and cash equivalents	26	−12	−9	−39	15
Net (decrease) increase in cash and cash equivalents, including cash classified within assets held for sale	−5,018	5,416	−64	—	—
Less: net (decrease) increase in cash classified within current assets held for sale	−24	0	0	—	—
Net (decrease) increase in cash and cash equivalents	−5,042	5,416	−64	−1,218	581
Cash paid for income taxes, net	190	200	232	180	252
Cash paid for interest	395	263	83	68	70
Non-cash investing activity property and equipment obligations	26	15	11	7	14

Filings

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