Tapestry said on February 16, 2025 it entered into a Purchase Agreement with Caleres to sell the Stuart Weitzman Business for total cash consideration of $105.0 million, subject to customary adjustments for cash, indebtedness, net working capital and transaction expenses.

1. 01

   Tapestry said on February 16, 2025 it entered into a Purchase Agreement with Caleres to sell the Stuart Weitzman Business for total cash consideration of $105.0 million, subject to customary adjustments for cash, indebtedness, net working capital and transaction expenses.

2. 02

   The company said it entered into a Termination Agreement with Capri on November 13, 2024 to terminate the merger agreement, reimbursed Capri for its expenses of $45.1 million in cash on November 14, and redeemed all outstanding Capri Acquisition Senior Notes on November 25 at a redemption price of 101% of the aggregate principal amount.

3. 03

   Tapestry said net sales for the first 9 months of fiscal 2025 increased 4.1% to $5.29 billion, with Coach net sales up 8.5% to $4.17 billion and Kate Spade net sales down 9.6% to $944.5 million. Operating income increased $93.4 million to $1.00 billion.

4. 04

   The company said net cash used in financing activities for the first 9 months of fiscal 2025 was $6.81 billion, which included debt repayment of $6.86 billion (primarily Capri Acquisition Senior Notes) and an accelerated share repurchase program of $2.02 billion, partially offset by proceeds from debt issuance of $2.25 billion.

Key figures

Quarter ended March 29, 2025

Revenue

$1.6B

Operating income

$254M

Net income

$203M

EPS

$0.95

Gross profit

$1.2B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.