image
Consumer Cyclical - Luxury Goods - NYSE - US
$ 73.98
-2.54 %
$ 17.2 B
Market Cap
21.44
P/E
1. INTRINSIC VALUE

This DCF valuation model was last updated on Jan, 31, 2025.

The intrinsic value of one TPR stock under the worst case scenario is HIDDEN Compared to the current market price of 74 USD, Tapestry, Inc. is HIDDEN

This DCF valuation model was last updated on Jan, 31, 2025.

The intrinsic value of one TPR stock under the base case scenario is HIDDEN Compared to the current market price of 74 USD, Tapestry, Inc. is HIDDEN

This DCF valuation model was last updated on Jan, 31, 2025.

The intrinsic value of one TPR stock under the best case scenario is HIDDEN Compared to the current market price of 74 USD, Tapestry, Inc. is HIDDEN

2. FUNDAMENTAL ANALYSIS
FINANCIALS
6.67 B REVENUE
0.15%
1.14 B OPERATING INCOME
-2.76%
816 M NET INCOME
-12.82%
1.26 B OPERATING CASH FLOW
28.75%
-1.04 B INVESTING CASH FLOW
-18278.95%
5.21 B FINANCING CASH FLOW
603.37%
1.51 B REVENUE
-5.25%
252 M OPERATING INCOME
10.77%
187 M NET INCOME
17.14%
120 M OPERATING CASH FLOW
-53.32%
190 M INVESTING CASH FLOW
134.20%
-74.5 M FINANCING CASH FLOW
85.65%
Balance Sheet Tapestry, Inc.
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Current Assets 8.8 B
Cash & Short-Term Investments 7.2 B
Receivables 464 M
Other Current Assets 1.14 B
Non-Current Assets 4.59 B
Long-Term Investments 0
PP&E 1.83 B
Other Non-Current Assets 2.76 B
Current Liabilities 1.71 B
Accounts Payable 452 M
Short-Term Debt 604 M
Other Current Liabilities 655 M
Non-Current Liabilities 8.79 B
Long-Term Debt 8.16 B
Other Non-Current Liabilities 626 M
EFFICIENCY
Earnings Waterfall Tapestry, Inc.
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Revenue 6.67 B
Cost Of Revenue 1.78 B
Gross Profit 4.89 B
Operating Expenses 3.75 B
Operating Income 1.14 B
Other Expenses 324 M
Net Income 816 M
RATIOS
73.29% GROSS MARGIN
73.29%
17.09% OPERATING MARGIN
17.09%
12.23% NET MARGIN
12.23%
28.17% ROE
28.17%
6.09% ROA
6.09%
7.48% ROIC
7.48%
FREE CASH FLOW ANALYSIS
Free Cash Flow Analysis Tapestry, Inc.
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Net Income 816 M
Depreciation & Amortization 229 M
Capital Expenditures -109 M
Stock-Based Compensation 85.9 M
Change in Working Capital 168 M
Others 24.6 M
Free Cash Flow 1.15 B
3. WALL STREET ANALYSTS ESTIMATES
Wall Street Analysts Price Targets Tapestry, Inc.
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Wall Street analysts predict an average 1-year price target for TPR of $61.5 , with forecasts ranging from a low of $44 to a high of $80 .
TPR Lowest Price Target Wall Street Target
44 USD -40.52%
TPR Average Price Target Wall Street Target
61.5 USD -16.93%
TPR Highest Price Target Wall Street Target
80 USD 8.14%
4. DIVIDEND ANALYSIS
0.73% DIVIDEND YIELD
0.35 USD DIVIDEND PER SHARE
5. COMPETITION
6. Ownership
Insider Ownership Tapestry, Inc.
image
Sold
0-3 MONTHS
7.18 M USD 3
3-6 MONTHS
0 USD 0
6-9 MONTHS
106 K USD 1
9-12 MONTHS
0 USD 0
Bought
0 USD 0
0-3 MONTHS
0 USD 0
3-6 MONTHS
0 USD 0
6-9 MONTHS
0 USD 0
9-12 MONTHS
Date Value Insider Amount Avg Price
2 months ago
Nov 22, 2024
Sell 203 K USD
Kahn Todd
CEO and Brand President, Coach
- 3500
58.06 USD
2 months ago
Nov 22, 2024
Sell 477 K USD
Kahn Todd
CEO and Brand President, Coach
- 8232
58 USD
2 months ago
Nov 22, 2024
Sell 2.38 M USD
Kahn Todd
CEO and Brand President, Coach
- 41097
58 USD
2 months ago
Nov 25, 2024
Sell 505 K USD
Kahn Todd
CEO and Brand President, Coach
- 8306
60.84 USD
2 months ago
Nov 25, 2024
Sell 615 K USD
Kahn Todd
CEO and Brand President, Coach
- 10186
60.42 USD
2 months ago
Nov 22, 2024
Sell 119 K USD
Howard David E
General Counsel & Secretary
- 2020
58.89 USD
2 months ago
Nov 22, 2024
Sell 133 K USD
Howard David E
General Counsel & Secretary
- 2256
58.82 USD
2 months ago
Nov 22, 2024
Sell 174 K USD
Howard David E
General Counsel & Secretary
- 2959
58.83 USD
2 months ago
Nov 22, 2024
Sell 2.06 M USD
Howard David E
General Counsel & Secretary
- 34890
58.97 USD
2 months ago
Nov 15, 2024
Sell 79.8 K USD
Dadlani Manesh
VP, Controller and PAO
- 1381
57.78 USD
2 months ago
Nov 15, 2024
Sell 115 K USD
Dadlani Manesh
VP, Controller and PAO
- 1991
57.78 USD
2 months ago
Nov 15, 2024
Sell 319 K USD
Dadlani Manesh
VP, Controller and PAO
- 5500
58.07 USD
8 months ago
May 24, 2024
Sell 106 K USD
Dadlani Manesh
VP, Controller and PAO
- 2500
42.23 USD
2 years ago
Dec 02, 2022
Sell 61 K USD
Dadlani Manesh
VP, Controller and PAO
- 1582
38.53 USD
2 years ago
Sep 12, 2022
Sell 73.8 K USD
Dadlani Manesh
VP, Controller and PAO
- 2005
36.81 USD
2 years ago
Aug 25, 2022
Sell 22.2 K USD
Dadlani Manesh
VP, Controller and PAO
- 602
36.85 USD
2 years ago
Aug 25, 2022
Sell 184 K USD
Dadlani Manesh
VP, Controller and PAO
- 5000
36.85 USD
2 years ago
Aug 19, 2022
Sell 433 K USD
Glaser Thomas A.
Chief Operations Officer
- 12253
35.37 USD
2 years ago
Aug 22, 2022
Sell 964 K USD
Glaser Thomas A.
Chief Operations Officer
- 27250
35.39 USD
2 years ago
Mar 11, 2022
Bought 197 K USD
Crevoiserat Joanne C.
Chief Executive Officer
+ 5700
34.6 USD
2 years ago
Feb 16, 2022
Sell 203 K USD
Dunn Sarah
Global Human Resources Officer
- 4946
40.98 USD
2 years ago
Feb 16, 2022
Sell 315 K USD
Dunn Sarah
Global Human Resources Officer
- 7676
40.98 USD
2 years ago
Feb 17, 2022
Sell 1.43 M USD
Dunn Sarah
Global Human Resources Officer
- 35000
40.76 USD
3 years ago
Nov 19, 2021
Sell 928 K USD
Kahn Todd
CEO and Brand President, Coach
- 19963
46.5 USD
3 years ago
Nov 18, 2021
Sell 484 K USD
Kahn Todd
CEO and Brand President, Coach
- 10523
46 USD
3 years ago
Nov 18, 2021
Sell 99.3 K USD
Dadlani Manesh
VP, Controller and PAO
- 2168
45.81 USD
3 years ago
Aug 26, 2021
Sell 721 K USD
Howard David E
General Counsel & Secretary
- 17061
42.27 USD
3 years ago
Aug 23, 2021
Sell 24 K USD
Dadlani Manesh
VP, Controller and PAO
- 567
42.37 USD
3 years ago
Aug 23, 2021
Sell 27.3 K USD
Dadlani Manesh
VP, Controller and PAO
- 644
42.36 USD
3 years ago
May 17, 2021
Sell 145 K USD
Dunn Sarah
Global Human Resources Officer
- 3081
47 USD
3 years ago
May 17, 2021
Sell 148 K USD
Dunn Sarah
Global Human Resources Officer
- 3155
47 USD
3 years ago
May 17, 2021
Sell 401 K USD
Dunn Sarah
Global Human Resources Officer
- 8523
47 USD
3 years ago
Mar 09, 2021
Sell 107 K USD
Menezes Ivan
Director
- 2497
42.96 USD
3 years ago
Mar 09, 2021
Sell 127 K USD
Menezes Ivan
Director
- 2941
43.11 USD
3 years ago
Mar 10, 2021
Sell 36.3 K USD
Long Annabelle Yu
Director
- 824
44.08 USD
3 years ago
Mar 10, 2021
Sell 82.8 K USD
Long Annabelle Yu
Director
- 1879
44.09 USD
3 years ago
Mar 10, 2021
Sell 115 K USD
Long Annabelle Yu
Director
- 2601
44.05 USD
3 years ago
Feb 24, 2021
Sell 6.8 K USD
Dadlani Manesh
VP, Controller and PAO
- 164
41.47 USD
3 years ago
Feb 11, 2021
Sell 801 K USD
Kahn Todd
Int. CEO Coach; Pres, CAO, TPR
- 20000
40.06 USD
4 years ago
Aug 19, 2020
Bought 198 K USD
BILBREY JOHN P
Director
+ 12980
15.27 USD
4 years ago
Jun 11, 2020
Bought 100 K USD
BILBREY JOHN P
Director
+ 7100
14.12 USD
4 years ago
Jun 09, 2020
Bought 150 K USD
BILBREY JOHN P
Director
+ 8800
17.02 USD
5 years ago
Nov 29, 2019
Sell 857 K USD
Dunn Sarah
Global Human Resources Officer
- 32000
26.78 USD
5 years ago
Jun 12, 2019
Sell 93.4 K USD
Long Annabelle Yu
Director
- 3229
28.93 USD
5 years ago
May 28, 2019
Bought 210 K USD
CAVENS DARRELL
Director
+ 7000
30.0072 USD
6 years ago
Sep 11, 2018
Sell 23.2 K USD
Satenstein Brian
VP,Controller and PAO
- 463
50 USD
6 years ago
Aug 31, 2018
Sell 105 K USD
Menezes Ivan
Director
- 2068
50.7 USD
6 years ago
Aug 20, 2018
Sell 125 K USD
Bickley Ian
President Global Busines Dev.
- 2395
52.04 USD
6 years ago
Aug 20, 2018
Sell 195 K USD
Bickley Ian
President Global Busines Dev.
- 3747
52.01 USD
6 years ago
Aug 20, 2018
Sell 220 K USD
Bickley Ian
President Global Busines Dev.
- 4227
52.06 USD
6 years ago
Aug 20, 2018
Sell 582 K USD
Bickley Ian
President Global Busines Dev.
- 11164
52.15 USD
6 years ago
Aug 20, 2018
Sell 1.38 M USD
Bickley Ian
President Global Busines Dev.
- 26538
52.16 USD
6 years ago
Feb 26, 2018
Sell 314 K USD
KROPF SUSAN J
Director
- 6185
50.8 USD
6 years ago
Feb 12, 2018
Sell 5.7 M USD
Luis Victor
Chief Executive Officer
- 113998
50.02 USD
6 years ago
Feb 13, 2018
Sell 489 K USD
Luis Victor
Chief Executive Officer
- 9782
50 USD
6 years ago
Feb 09, 2018
Sell 151 K USD
Kahn Todd
President, CAO and Secretary
- 3106
48.75 USD
6 years ago
Feb 08, 2018
Sell 62.7 K USD
Kahn Todd
President, CAO and Secretary
- 1251
50.08 USD
6 years ago
Feb 09, 2018
Sell 1.8 M USD
Bickley Ian
President Global Busines Dev.
- 36747
48.9 USD
6 years ago
Feb 08, 2018
Sell 300 K USD
Dunn Sarah
Global Human Resources Officer
- 6229
48.23 USD
7 years ago
Sep 12, 2017
Sell 341 K USD
Brown Melinda
SVP, Controller and PAO
- 8250
41.28 USD
7 years ago
Aug 23, 2017
Sell 187 K USD
Kahn Todd
President, CAO and Secretary
- 4586
40.85 USD
7 years ago
May 24, 2017
Sell 120 K USD
Dunn Sarah
Global Human Resources Officer
- 2595
46.06 USD
7 years ago
May 24, 2017
Sell 230 K USD
Dunn Sarah
Global Human Resources Officer
- 5000
46.07 USD
7 years ago
May 23, 2017
Sell 138 K USD
Cohen Andre
President, NA & Glbl Mktg
- 2988
46.06 USD
7 years ago
May 12, 2017
Sell 457 K USD
Cohen Andre
President, NA & Glbl Mktg
- 10087
45.35 USD
7 years ago
May 10, 2017
Sell 195 K USD
KROPF SUSAN J
Director
- 4239
45.99 USD
7 years ago
May 10, 2017
Sell 33.6 K USD
Kahn Todd
President, CAO and Secretary
- 738
45.5 USD
7 years ago
May 10, 2017
Sell 48.3 K USD
Kahn Todd
President, CAO and Secretary
- 1062
45.49 USD
7 years ago
May 10, 2017
Sell 251 K USD
Kahn Todd
President, CAO and Secretary
- 5510
45.57 USD
7 years ago
May 10, 2017
Sell 551 K USD
Kahn Todd
President, CAO and Secretary
- 12140
45.39 USD
8 years ago
Jan 10, 2017
Sell 81.1 K USD
Long Annabelle Yu
Director
- 2310
35.12 USD
8 years ago
Jun 14, 2016
Sell 120 K USD
Zeitlin Jide James
Director
- 3206
37.32 USD
8 years ago
May 03, 2016
Sell 218 K USD
KROPF SUSAN J
Director
- 5330
40.81 USD
9 years ago
Aug 13, 2015
Sell 416 K USD
Nielsen Jane
Chief Financial Officer
- 13194
31.5 USD
9 years ago
Mar 03, 2015
Sell 173 K USD
Dunn Sarah
Global Human Resources Officer
- 4000
43.23 USD
9 years ago
Feb 25, 2015
Sell 135 K USD
Kahn Todd
Global Corp.Affairs Officer/GC
- 3138
43 USD
9 years ago
Feb 25, 2015
Sell 195 K USD
Kahn Todd
Global Corp.Affairs Officer/GC
- 4529
43 USD
11 years ago
Jan 27, 2014
Sell 114 K USD
MURPHY MICHAEL E
Director
- 2331
48.85 USD
11 years ago
Oct 24, 2013
Bought 1.02 M USD
FRANKFORT LEW
Chairman and CEO
+ 21000
48.38 USD
11 years ago
Sep 04, 2013
Sell 1.91 M USD
KRAKOFF REED
Pres, Exec Creative Director
- 35821
53.42 USD
11 years ago
Sep 05, 2013
Sell 3.01 M USD
KRAKOFF REED
Pres, Exec Creative Director
- 56452
53.4 USD
11 years ago
Aug 23, 2013
Sell 117 K USD
Dunn Sarah
EVP, Human Resources
- 2227
52.75 USD
11 years ago
Aug 23, 2013
Sell 204 K USD
Dunn Sarah
EVP, Human Resources
- 3862
52.84 USD
11 years ago
Aug 09, 2013
Sell 297 K USD
TUCCI MICHAEL D
President, N. American Group
- 5519
53.81 USD
11 years ago
Feb 21, 2013
Sell 92 K USD
MURPHY MICHAEL E
Director
- 1924
47.82 USD
11 years ago
Aug 08, 2013
Sell 914 K USD
STRITZKE JERRY D
President and COO
- 16933
53.98 USD
11 years ago
Aug 08, 2013
Sell 6.44 M USD
STRITZKE JERRY D
President and COO
- 119394
53.98 USD
11 years ago
Aug 09, 2013
Sell 833 K USD
STRITZKE JERRY D
President and COO
- 15675
53.15 USD
11 years ago
Aug 02, 2013
Sell 3.36 M USD
TUCCI MICHAEL D
President, N. American Group
- 62694
53.53 USD
12 years ago
Nov 20, 2012
Sell 380 K USD
Menezes Ivan
Director
- 6627
57.36 USD
12 years ago
Nov 05, 2012
Sell 1.77 M USD
KRAKOFF REED
Pres, Exec Creative Director
- 30808
57.57 USD
12 years ago
Nov 01, 2012
Sell 2.67 M USD
KRAKOFF REED
Pres, Exec Creative Director
- 47222
56.5 USD
12 years ago
Oct 31, 2012
Sell 45.4 K USD
KRAKOFF REED
Pres, Exec Creative Director
- 804
56.5 USD
12 years ago
Oct 26, 2012
Sell 222 K USD
KRAKOFF REED
Pres, Exec Creative Director
- 3936
56.5 USD
12 years ago
Aug 28, 2012
Sell 140 K USD
Dunn Sarah
EVP, Human Resources
- 2464
56.77 USD
12 years ago
Aug 28, 2012
Sell 244 K USD
Dunn Sarah
EVP, Human Resources
- 4297
56.75 USD
12 years ago
Mar 12, 2012
Sell 3.86 M USD
FRANKFORT LEW
Chairman and CEO
- 50000
77.2209 USD
12 years ago
Mar 13, 2012
Sell 473 K USD
FRANKFORT LEW
Chairman and CEO
- 6025
78.5566 USD
12 years ago
Mar 13, 2012
Sell 3.41 M USD
FRANKFORT LEW
Chairman and CEO
- 43975
77.4342 USD
12 years ago
Mar 02, 2012
Sell 1.72 M USD
TUCCI MICHAEL D
President, N. America Retail
- 22500
76.46 USD
13 years ago
Feb 03, 2012
Sell 595 K USD
LOVEMAN GARY W
Director
- 8233
72.25 USD
13 years ago
Jan 27, 2012
Sell 2.01 M USD
MILLER IRENE R
Director
- 29353
68.4 USD
13 years ago
Jan 27, 2012
Sell 1.06 M USD
MURPHY MICHAEL E
Director
- 15358
68.73 USD
13 years ago
Jan 26, 2012
Sell 523 K USD
Menezes Ivan
Director
- 7538
69.43 USD
7. News
5 Ideal Buys From 14 'Safer' January Dividends On Bloomberg 2025 Watch List Of 50 Bloomberg Intelligence analysts identified 50 watchable firms for 2025, focusing on catalysts like new leadership, asset sales, acquisitions, and new products. 14 of 35 dividend-paying companies meet the "safer" criteria with free cash flow yields exceeding dividend yields, inviting closer investor scrutiny. Top ten Bloomberg Dividend Focus stocks for 2025 projected net gains between 11.62% and 48.92%, based on analyst target prices and dividend yields. seekingalpha.com - 1 week ago
3 Stocks to Gain From Donald Trump's External Revenue Service President Trump announced his plan for a federal agency called the “External Revenue Service” to handle the collection of tariffs and fees from other nations. Trump had previously stated he would charge a universal tariff of 10% to 25% to all nations and up to 60% for China on exports. marketbeat.com - 1 week ago
Will Tapestry (TPR) Beat Estimates Again in Its Next Earnings Report? Tapestry (TPR) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report. zacks.com - 2 weeks ago
These 3 Buy Rated Stocks are Scraping All Time Highs Despite a sluggish tone to wrap up 2024, these three stocks continued climbing higher, now hovering near all-time highs and sporting bullish EPS outlooks. zacks.com - 2 weeks ago
Don't Bet on Signet for Now: Invest in These 4 Retail Stocks Instead Although SIG encounters obstacles, ANF, DECK, URBN and TPR present stronger growth prospects, backed by innovation and a clear trajectory for long-term success. zacks.com - 3 weeks ago
Coach and Gen Phoenix Showcase the Power of Legacy Meets Innovation at CES 2025 LAS VEGAS , Jan. 7, 2025 /PRNewswire/ -- Coach, the "Original American House of Leather," and Gen Phoenix, a global leading sustainable manufacturer of recycled leather fiber material at scale, are taking the stage together at CES 2025 to share how their transformative partnership is changing the standard for sustainability in fashion – and unveil what's next in their industry-leading journey. Coach CEO and Brand President, Todd Kahn, and Gen Phoenix CMO and General Manager of Consumer, Elyse Winer, invite CES attendees to join them on Thursday, January 9th at 3:00PM PST for the Great Minds panel, which will offer a behind-the-scenes look at how these two uniquely positioned brands are working together to drive the fashion industry's sustainable transformation at scale. prnewswire.com - 3 weeks ago
Tapestry Stock Still Has Bullish Momentum After 52-Week High Subscribers to Schaeffer's Weekend Trader options recommendation service received this TPR commentary on Sunday night, along with a detailed options trade recommendation -- including complete entry and exit parameters. schaeffersresearch.com - 4 weeks ago
2025 will be good for aspirational brands, says J. Rogers Kniffen WWE Jan Kniffen Jan Kniffen, J. Rogers Kniffen WWE CEO, joins CNBC's 'Power Lunch' to discuss retail outlooks for 2025. youtube.com - 1 month ago
3 Luxury Brand Stocks Ready to Boost Your Portfolio in 2025 With improving market conditions and rising consumer demand for luxury products, companies like lululemon, Ralph Lauren and Tapestry are positioned well. zacks.com - 1 month ago
Tapestry: Coach Rebranding Holds Promise For Future Growth Tapestry owns accessible luxury brands Coach, Kate Spade and Stuart Weitzman. Coach has received a facelift and this has been reflected in the recent success. The company has kept prices high at Coach and demand hasn't been affected. Kate Spade and Stuart Weitzman have overshadowed Coach's performance, but if the economy recovers, and they catch up, then margins should improve. seekingalpha.com - 1 month ago
All You Need to Know About Tapestry (TPR) Rating Upgrade to Strong Buy Tapestry (TPR) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy). zacks.com - 1 month ago
Buy These 5 Retail Stocks With Upside for 2025 as Sales Continue to Grow Retail stocks like AMZN, GAP, WSM, TPR and URBN are poised to gain from the surge in retail sales. zacks.com - 1 month ago
8. Profile Summary

Tapestry, Inc. TPR

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COUNTRY US
INDUSTRY Luxury Goods
MARKET CAP $ 17.2 B
Dividend Yield 0.73%
Description Tapestry, Inc. provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women's accessories, including handbags, such as wallets, money pieces, wristlets, and cosmetic cases; novelty accessories comprising address books, time management and travel accessories, sketchbooks, and portfolios; and key rings and charms. The company also provides bag collections, including business cases, computer bags, messenger-style bags, backpacks, and totes; small leather goods, such as wallets, card cases, travel organizers, and belts; and footwear, watches, fragrances, sunglasses, novelty accessories, and ready-to-wear for men. In addition, it offers women's footwear; sunglasses; bracelets, necklaces, rings, and earrings; fragrances and watches; women's seasonal lifestyle apparel collections, including outerwear and ready-to-wear, and cold weather accessories, which comprise gloves, scarves, and hats. Further, the company provides footwear items; and housewares and home accessories for kids, such as fashion bedding and tableware; and stationery and gifts. Additionally, it licenses rights to market and distribute its tech and soft accessories, jewelry, watches, eyewear, and fragrances under the Coach brand; and tableware and housewares, fashion beddings, tech accessories, watches, sleepwear, eyewear, stationery and gifts, and fragrances under the Kate Spade brand. As of July 2, 2022, the company operated through a network of 945 Coach stores, 398 Kate Spade stores, and 100 Stuart Weitzman stores. It sells its products through e-commerce sites and concession shop-in-shops, and wholesale customers, as well as through independent third-party distributors. The company was formerly known as Coach, Inc. and changed its name to Tapestry, Inc. in October 2017. Tapestry, Inc. was founded in 1941 and is headquartered in New York, New York.
Contact 10 Hudson Yards, New York, NY, 10001 https://www.tapestry.com
IPO Date Oct. 6, 2000
Employees 12500
Officers Yang Lu Chief Information Officer Mr. Manesh B. Dadlani Vice President, Principal Accounting Officer & Controller Mr. Peter Charles Chief Supply Chain Officer Mr. Todd Kahn J.D. Chief Executive Officer & Brand President of Coach Ms. Denise M. Kulikowsky Chief People Officer Ms. Joanne C. Crevoiserat President, Chief Executive Officer & Director Ms. Christina Colone Global Head of Investor Relations Mr. Yann Bozec President of Tapestry Asia Pacific and President & Chief Executive Officer of Coach Asia Pacific Mr. Scott A. Roe CPA Chief Financial Officer & Chief Operating Officer Mr. David E. Howard CPA General Counsel & Secretary