Tapestry Q1 revenue and adjusted EPS beat estimates, outlook raised
TPR•Tapestry’s fiscal Q1 revenue rose 11% to $1.89 billion and adjusted EPS increased 32% to $1.82, beating estimates. The company raised its FY27 revenue outlook to $8.5 billion-$8.6 billion and EPS guidance to $8.25-$8.35.
1. Quarterly results
Fiscal Q1 revenue rose 11% to $1.89 billion, above the $1.86 billion consensus estimate. Adjusted EPS rose 32% year over year to $1.82, beating the $1.57 estimate; net income was $360 million.
2. Raised outlook
Tapestry raised its FY27 revenue outlook to $8.5 billion-$8.6 billion from $8.4 billion-$8.5 billion and its EPS guidance to $8.25-$8.35 from $7.80-$7.90. For Q2, it expects revenue growth of 5%-6% and EPS of about $3.05.
3. Drivers of growth
Coach revenue rose 16%, driven by increased handbag sales and higher average unit prices. Greater China revenue grew 39%, Europe revenue rose 22%, and direct-to-consumer revenue grew 9%.
