Q3 2025 Tapestry Inc Earnings Call Transcript
Key Points
- Tapestry Inc (TPR) reported record third-quarter results, with revenue gains of 8% at constant currency, surpassing expectations.
- The Coach brand achieved a 15% revenue growth, driven by strong consumer engagement and product innovation.
- Tapestry Inc (TPR) acquired over 1.2 million new customers in North America, with a significant portion being Gen Z and millennials.
- Digital sales grew at a mid-teens rate, representing approximately 30% of total revenue, indicating strong omnichannel performance.
- The company increased its fiscal year 2025 earnings outlook, projecting earnings per share in the area of $5, consistent with long-term targets.
- Kate Spade's revenue declined by 12% at constant currency, indicating challenges in brand repositioning and market conditions.
- The company faces an increasingly complex external environment, including potential impacts from tariffs and global trade dynamics.
- Japan sales declined by 2%, highlighting regional challenges in the Asia market.
- Despite strong performance, Tapestry Inc (TPR) remains cautious about the rapidly shifting market and has taken a conservative approach to future outlooks.
- The company is undergoing a strategic reset for Kate Spade, which may take time to yield sustainable growth.
Good day, and welcome to this Tapestry conference call. Today's call is being recorded. At this time, for opening remarks and introductions, I would like to turn the call over to the Global Head of Investor Relations, Christina Colone.
Good morning. Thank you for joining us. With me today to discuss our third quarter results as well as our strategies and outlook are Joanne Crevoiserat, Tapestry's Chief Executive Officer; and Scott Roe, Tapestry's Chief Financial Officer and Chief Operating Officer.
Before we begin, we must point out that this conference call will involve certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act. This includes projections for our business in the current or future quarters or fiscal years.
Forward-looking statements are not guarantees, and actual results may differ materially from those expressed or implied in the forward-looking statements. Please refer to our annual report on Form 10-K, the press release we issued
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