Fashion
US’ Tapestry outlines FY27–28 goals, Coach eyes $10 bn revenue
Across FY26–FY28, Tapestry expects adjusted free cash flow of $4 billion. The company reaffirmed its previously issued FY26 outlook, provided with its fourth-quarter results in August, which remains unchanged.
Tapestry, Inc has outlined its long-term growth strategy, projecting mid-single-digit annual revenue growth, operating margin expansion above 22 per cent, and low double-digit EPS growth in FY27–FY28.
It expects $4 billion in free cash flow across FY26–FY28, all returned to shareholders via dividends and buybacks.
Coach targets $10 billion revenue, while Kate Spade to return to profitability in FY27.
By brand, Coach is expected to achieve a three-year mid-single-digit revenue CAGR, with margins expanding to the mid-30 per cent range. The company also set an ambition for Coach to reach $10 billion in revenue. Kate Spade is forecast to return to profitable topline growth in FY27, accelerating to mid-single-digit revenue growth and a high single-digit margin in FY28, Tapestry said in a press release.
“Our focused strategies and consistent execution position us to generate compounding growth. We expect to deliver durable mid-single digit revenue gains annually, expand our operating margins, and achieve double-digit earnings per share growth in fiscal years 2027 and 2028,” said Scott Roe, chief financial officer (CFO) and chief operating officer (COO) of Tapestry, Inc.
The company also planned to return $4 billion to shareholders by fiscal 2028, representing 100 per cent of its adjusted free cash flow over FY26–FY28. The company expects to maintain an annual dividend of $1.60 per share in FY26, with future increases aligned to earnings growth and a payout ratio of about 30 per cent. It also aims to repurchase roughly $3 billion in stock under a newly authorised buyback programme.
Tapestry unveiled these long-term financial targets in its 2025 Investor Day along with the ‘Amplify’ growth strategy, aiming to deliver durable, profitable growth and strong shareholder returns over the next three years.
It said that the growth strategy will be built around four key pillars: Building emotional connections with consumers by focusing on Gen Z to drive brand love and lifetime value; fuelling fashion innovation and product excellence with leadership in handbags and leathergoods and expanding into footwear; delivering compelling experiences to sustain North American growth while accelerating momentum in Greater China and Europe; and igniting the power of its people by fostering a forward-looking, consumer-obsessed culture.
“Tapestry is a consumer-obsessed, data-driven organisation, driving meaningful durable growth. From this strong foundation, we are introducing our Amplify plan, building on our proven strategies to bring our iconic brands to new generations of consumers. We are confident that our strengths are structural, and that our innovation, creativity, and brand-building capabilities will deliver significant value for our customers, employees, and shareholders for years to come,” said Joanne Crevoiserat, chief executive officer (CEO) at Tapestry, Inc.
Fibre2Fashion News Desk (SG)
ICE December cotton futures settled at 64.54 cents per pound, down 0.69 cents.
ICE cotton futures declined amid weakness in US stocks and grains, with traders awaiting the USDA’s supply and demand report due on November 14, 2025.
Technology and AI-related stock losses and uncertainty around President Trump’s tariff policies further dampened sentiment.
Brazil’s October cotton exports rose 5 per cent year-on-year, while ICE deliverable inventories remained steady at 13,749 bales.
Market analysts noted that the fall in the stock market was the primary driver behind the decline. Weakness in grain prices added further pressure on cotton values. US stocks closed lower on Thursday, extending losses from earlier in the week. Technology and AI-related stocks led the declines due to concerns about overvaluation and economic uncertainty.
The US Supreme Court heard arguments challenging President Trump’s broad tariff policies, heightening global trade concerns. US Trade Representative Greer stated that some plaintiffs could receive refunds if the court rules against the tariffs, subject to Treasury’s scheduling.
CBOT soybean futures fell sharply as optimism over renewed demand weakened following signs of easing trade tensions.
Traders are now focused on the USDA’s delayed monthly supply and demand report, scheduled for release on November 14, 2025. Despite the ongoing US government shutdown, the USDA confirmed it is collecting survey data for upcoming crop yield reports.
Brazil’s cotton exports totalled 293,928.51 tons in October, up 5 per cent year-on-year, with daily shipments averaging 13,360.39 tons, also up 5 per cent.
ICE data showed deliverable No. 2 cotton futures inventory unchanged at 13,749 bales as of November 05, 2025.
This morning (Indian Standard Time), ICE cotton for December 2025 traded at 64.66 cents per pound (up 0.12 cent), cash cotton at 62.04 cents (down 0.69 cent), the March 2026 contract at 65.90 cents (up 0.13 cent), the May 2026 contract at 67.11 cents (up 0.13 cent), the July 2026 contract at 68.07 cents (unchanged), and the October 2026 contract at 68.08 cents (down 0.51 cent). A few contracts remained at their previous closing levels, with no trading recorded so far today.
Fibre2Fashion News Desk (KUL)
Published
November 7, 2025
Global fashion retailer Mango has opened its first store in Aberdeen at the Union Square shopping centre, creating 20 new jobs. It’s the ninth store in Scotland, as Mango looks to strengthen its presence there.
Mango also said the opening forms part of its ongoing ambitious expansion strategy, which aims to open a further 500 stores globally between 2023 and 2026, including 20 in the UK this year
The 4,844 sq ft store features the brand’s now-standard New Med design concept, inspired by the brand’s Mediterranean heritage and culture, alongside Mango’s latest womenswear collection, including clothing, footwear and accessories.
This latest opening forms part of Mango’s 2024-2026 strategic plan, which aims to drive sales and store expansion, including an ambitious roadmap to expand Mango’s store presence across the UK, “a priority growth market”.
Fiona Cullen, International Regional director for the UK & Ireland, said: “Our new Mango Woman store in Aberdeen is a confident step forward for Mango, building on the strong progress we have made over the last year to broaden the appeal of Mango to even more customers across the UK. Aberdeen is the perfect new home to introduce our womenswear collection to the more Scottish customers, in a store format that truly represents the Mediterranean soul of our brand.”
The expansion plan builds on Mango’s strong performance. In July the Spanish brand reported global turnover of €1.73 billion (£1.52 billion) inforthe first half of 2025, up 12% year on year (14% at constant exchange rates). It noted the growth was driven by “the popularity of its collections and new store openings”.
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