Fashion
US’ Coach drives Tapestry’s FY25 gains, Kate Spade declines
Revenues in the fourth quarter (Q4), ended June 28, rose 8 per cent to $1.72 billion, with gains across North America (+8 per cent), Europe (+10 per cent), and APAC (+6 per cent). Gross margin expanded 210 basis points for the year and 140 basis points in Q4, driven by operational efficiencies.
Coach delivered $5.6 billion in annual revenue (+10 per cent constant currency), while Kate Spade fell 10 per cent to $1.20 billion and Stuart Weitzman dropped 11 per cent to $215 million. Kate Spade recorded $855 million in impairment charges due to reduced cash flow expectations and anticipated tariff impacts, the company said in a media release.
Tapestry, Inc has posted FY25 revenue of $7.01 billion, up 5 per cent, led by growth at Coach and in Europe and Greater China.
Q4 sales rose 8 per cent, with gross margin gains.
The company returned $2.3 billion to shareholders and will raise its dividend 14 per cent in FY26.
EPS is seen at $5.30–$5.45, despite a $160 million tariff hit.
Adjusted free cash flow is forecast at $1.3 billion.
The company added 6.8 million new customers during the year—60 per cent from Gen Z and Millennials—while direct-to-consumer revenue grew 5 per cent annually, supported by mid-teens digital sales growth. Handbag sales at Coach saw mid-teens average unit retail (AUR) gains in Q4 and low double-digit gains for the year.
On a non-GAAP basis, FY25 operating income reached $1.40 billion (20 per cent margin) versus $1.25 billion last year, and EPS rose to $5.10 from $4.29. GAAP net income was $183 million ($0.82 EPS), down from $816 million, reflecting impairment, organisational efficiency, and transaction-related charges. Adjusted free cash flow was $1.35 billion.
Tapestry returned $2.3 billion to shareholders in FY25—$300 million in dividends and $2 billion through an accelerated share repurchase (ASR) programme at an expected $78 average price. For FY26, the board has approved a 14 per cent dividend increase to $1.60 per share annually and authorised $800 million in additional buybacks.
Joanne Crevoiserat, chief executive officer of Tapestry, Inc, commented: “Fiscal 2025 was a breakout year for Tapestry as our systemic approach to brand-building is capturing a new generation of consumers around the world. Our strong growth, capped by our fourth quarter outperformance, reinforces that our strategies are working. Importantly, we achieved bold targets we set three years ago in a dynamic landscape, delivering over $5 in adjusted earnings per share and returning more than $3 billion cumulatively to shareholders. Looking ahead, the creativity, craftsmanship, and compelling value we offer at scale—combined with the agility of our operating model—position us to drive compounding long-term growth and shareholder value.”
For FY26, Tapestry forecasts revenue approaching $7.2 billion, with mid-single-digit pro-forma growth excluding Stuart Weitzman, and EPS of $5.30–$5.45, despite a projected $160 million hit from incremental tariffs and duties (230 basis points of margin impact). Adjusted free cash flow is expected at about $1.3 billion.
Fibre2Fashion News Desk (KD)
CCPIT has approved 119 activities for Chinese enterprises to participate in US-based exhibitions this year; 30 are over by February, CCPIT spokesperson Wang Wenshuai told in a press conference.
It will also utilise its dedicated working group for foreign-funded enterprises, ensuring that the reasonable demands of US-funded enterprises are met, Wang was cited as saying by a state-controlled media outlet.
The China Council for the Promotion of International Trade will facilitate exchanges and collaboration between Chinese and US firms in investment, trade and technology.
It has approved 119 activities for Chinese enterprises to participate in US-based exhibitions this year; 30 are over by February.
It will also utilise its dedicated working group for foreign-funded enterprises to address US firms’ demand.
CCPIT will use events like the Asia-Pacific Economic Co-operation CEO Summit and the B20 business activities during the December G20 Leaders’ Summit as an opportunity to work with all parties, including the US business community, to build consensus, deepen co-operation and promote inclusive, strong and sustainable growth of the Asia-Pacific and global economies, Wang added.
Fibre2Fashion News Desk (DS)
The package establishes a modern framework for both sides, enabling frictionless access to a market of 460 million consumers in key sectors, delivering economic benefits to both parties.
European Commission President Ursula von der Leyen and Swiss President Guy Parmelin yesterday signed a broad package of agreements aimed at deepening and expanding EU-Switzerland ties.
By aligning standards and rules in closely integrated areas, it will provide legal certainty, simplify trade in goods like medical devices and food products, and ease cross-border supply for businesses on both sides.
By aligning standards and rules in closely integrated areas, it will provide legal certainty, simplify trade in goods like medical devices and food products, and ease cross-border supply for businesses on both sides of the border.
Additionally, it will ensure more consistent rules for individuals who live, work or study across the EU-Swiss border. Switzerland will contribute to the development of legislation in the areas covered by the package and will have the opportunity to influence these rules as they are being designed.
“By modernising and deepening our ties across key sectors, from trade and transport to health and energy—we are strengthening legal certainty, fostering innovation and creating new opportunities for our citizens and businesses,” von der Leyen said in a release from the Commission.
The package includes updates to four already existing agreements, which already give Switzerland access to the EU internal market, regarding air transport, land transport, the free movement of persons and mutual recognition of conformity assessment.
New agreements on food safety, electricity, health and Switzerland’s participation in the EU Agency for the Space Programme were signed. A new agreement introduced a permanent and fair financial contribution by Switzerland to economic and social cohesion within the EU.
Apart from a protocol on parliamentary cooperation, the package includes also a joint declaration on the establishment of a high-level dialogue on the broad bilateral package.
Fibre2Fashion News Desk (DS)
US Senate Rejects Resolution to Limit Trump’s Iran War Powers
David Beckham supports Cruz at Manchester gig after emotional Brooklyn moment
Asian stocks today: Markets inch higher mirroring Wall Street gains; Kospi jumps 10%, Nikkei up 1,400 points – The Times of India
India Us Trade Deal: Fresh look at India-US trade deal? May be ‘rebalanced’ if circumstances change, says Piyush Goyal – The Times of India
What are Iran’s ballistic missile capabilities?
Households set for lower energy bills amid price cap shake-up
-
Business6 days ago
India Us Trade Deal: Fresh look at India-US trade deal? May be ‘rebalanced’ if circumstances change, says Piyush Goyal – The Times of India
-
Politics7 days agoWhat are Iran’s ballistic missile capabilities?
-
Business1 week ago
Households set for lower energy bills amid price cap shake-up
-
Politics7 days agoUS arrests ex-Air Force pilot for ‘training’ Chinese military
-
Fashion6 days agoPolicy easing drives Argentina’s garment import surge in 2025
-
Business6 days agoAttock Cement’s acquisition approved | The Express Tribune
-
Fashion1 week agoOECD GDP growth slows to 0.3% in Q4 amid mixed trends
-
Sports6 days agoLPGA legend shares her feelings about US women’s Olympic wins: ‘Gets me really emotional’