Tapestry news and archive

Coach signs licensing agreement with Incipio to launch mobile phone accessories

California-based Incipio Group has signed a global, multi-year licensing agreement with Coach to launch a line of mobile device accessories which will be available on Coach’s website and Coach stores worldwide in the fall of 2019. Coach will design the accessories, which will include smartphone and tablet cases made of genuine leather, while...

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Tapestry announces quarterly cash dividend

Tapestry, Inc. has declared a quarterly cash dividend of 0.3375 cents per common share payable on December 31, 2018 to shareholders of record as of the close of business on December 7, 2018. For its first quarter, Tapestry's revenue rose by 7 percent to 1.38 billion dollars, while net income for the quarter was 122 million dollars on a reported...

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Tapestry's CFO Kevin Wills to leave the company

Tapestry, Inc. has announced that the company’s chief financial officer, Kevin Wills is departing the company to pursue another opportunity. In order to facilitate a smooth transition, the company said, Wills is expected to stay through February 8, 2019. “During his tenure as CFO, Kevin has played an important role as a key member of our...

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Tapestry Q1 revenues increase 7 percent, updates outlook

American luxury and lifestyle company Tapestry said on Tuesday its Q1 revenue for 2018 rose by 7 percent, while net income for the quarter was 122 million US Dollars on a reported basis, with earnings per diluted share of 0.42 US Dollar compared to a reported net loss of 18 million US Dollars with loss per diluted share of 0.06 US Dollar in the...

Fashion

Tapestry signs onto UN Global Compact

New York-based fashion holding company, Tapestry Inc, which includes luxury apparel and accessory brands Coach, Kate Spade and Stuart Weitzman, has signed the United Nations Global Compact, a corporate sustainability initiative that aligns businesses, strategies and operations with ten principles on human rights, labour, environment and...

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Tapestry Q4 revenues increase 31 percent

American luxury and lifestyle company Tapestry said on Tuesday its Q4 revenue for 2018 rose 31 percent. Profit increased by 39.5 percent from the same period last year. For the full year, revenues also increased 31 percent to 5,880 million dollars, while net income 397.5 million dollars compared to 591 million dollars last year. Hover over the...

ManagementFeatured

Darrell Cavens joins Tapestry’s board of directors

Tapestry, Inc. has announced that Darrell Cavens has been appointed to Tapestry’s board of directors. The appointment of Cavens to the board, the company said, brings the membership to eleven. Commenting on Cavens’ appointment, Victor Luis, Chief Executive Officer of Tapestry, said in a statement: "We are extremely pleased that Darrell Cavens...

Business

Stuart Weitzman executive files lawsuit against Tapestry Inc

London - Thomas Gibb, vice president of product development for Stuart Weitzman has filed a lawsuit against Tapestry Inc, owner of Stuart Weitzman following allegations of sexual harassment by former creative director Giovanni Morelli. The executive claimed in a lawsuit filed in a Manhattan state court earlier this week that he endured "numerous...

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Stuart Weitzman’s creative director steps down

Tapestry, Inc. has announced the resignation of Stuart Weitzman Creative Director Giovanni Morelli, just a year after it assigned the creative duties to him. The company added that it has commenced a search for a new creative leader. “While we greatly admire Giovanni’s creative talents, Tapestry is committed to an environment where every...

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Tapestry declares quarterly cash dividend

Tapestry, Inc.’s board of directors has declared a quarterly cash dividend of 0.3375 dollar per common share. The company said, this dividend is payable on July 2, 2018 to shareholders of record as of the close of business on June 8, 2018. Net sales at Tapestry for the third quarter totalled 1.32 billion dollars, an increase of 33 percent on...

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Tapestry´s Q3 profits increase 14.8 percent

US luxury and lifestyle company Tapestry said on Tuesday its Q3 net profit rose. Revenues rose by 32.7 percent from the same period last year. The company’s net profit for Q3 2018 was 140 million US dollars, up from 122 million US dollars a year earlier. Revenues increased to 1320 million US dollars. Tapestry Inc was founded 1941 and is based in...

ManagementFeatured

Tapestry reports strong net sales growth of 30 percent in Q3

Net sales at Tapestry for the third quarter totalled 1.32 billion dollars, an increase of 33 percent on reported and 30 percent on a constant currency basis. The company now projects earnings per diluted share in the range of 2.57 dollars-2.60 dollars, an increase of about 19 percent to 21 percent for the year, including high single digit...