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Tapestry (TPR) guidance and outlook

Tapestry (TPR) raised some and lowered other parts of its guidance on Nov 5, 2026: Gross margin +230 bps for Q1 2027; Revenue +11% for Q1 2027; Gross profit +14% for Q1 2027; Gross margin 78.6% for Q1 2027. Tapestry's 10-Q filed Nov 5, 2026 makes 9 forward-looking statements.

Guidance and outlook

Met or beat 2 of 2 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.

9 statements; tone +0.22 (−1 all cautious, +1 all confident); 1 hedged.

Latest guidance

Metric	Period	Range	Change
Gross margin	Q1 2027	+230 bps	new
Revenue	Q1 2027	+11%	new
Gross profit	Q1 2027	+14%	new
Gross margin	Q1 2027	78.6%	new
Gross margin	Q1 2027	+230 bps	new
Revenue	Q1 2027	$8.5B–$8.6B	new
Operating margin	Q1 2027	+100 bps	new
Interest expense	Q1 2027	$60.0M	raised
Tax rate	Q1 2027	18%	lowered
EPS	Q1 2027	$8.25–$8.35	new
EPS	Q1 2027	+17% to +18%	new
Free cash flow	Q1 2027	$1.7B	new

From the earnings release filed Nov 5, 2026 (8-K on EDGAR).

Forward-looking statements, 10-Q filed Nov 5, 2026

• Build Emotional Connections with Consumers: The Company aims to drive new customer acquisition, with a focus on Gen Z consumers entering the market to build brand love and lifetime value.
• Fuel Fashion Innovation & Product Excellence: The Company aims to lead with handbags and leathergoods with targeted lifestyle expansion in footwear.
• Deliver Compelling Experiences to Drive Global Growth: The Company aims to sustain growth in North America and accelerate momentum in international markets, prioritizing Greater China and Europe.
• Ignite the Power of Our People: The Company aims to future-proof growth by continuing to develop a consumer-obsessed culture that is agile and always looking forward.
We have no reason to believe at this time that the participating institutions will be unable to fulfill their obligations to provide financing in accordance with the terms of the facility in the event we elect to draw funds in the foreseeable future.
Management believes that existing cash balances, cash flows from operations, existing credit facilities, our commercial paper program, and access to capital markets will provide sufficient liquidity to meet our debt obligations, including any repayment of debt or refinancing of debt, working capital needs, planned capital expenditures, other contractual obligations and payment of anticipated quarterly dividends…
The Company expects total fiscal 2027 capital expenditures and cloud computing costs to be approximately $300 million.
While we believe that these accounting policies are based on sound measurement criteria, actual future events can and often do result in outcomes that can be materially different from these estimates or forecasts.
If profitability trends decline during fiscal 2027 from those that are expected, it is possible that an interim test, or our annual impairment test, could result in an impairment of these assets.

Tapestry's latest quarter

Tapestry, Q1 FY27: revenue $1.9B (+11% year over year), operating margin 22.4%, net earnings $360M, operating cash flow $197M. The chart follows the revenue to costs, profit and cash.

Questions

Did Tapestry raise or lower its guidance?

What does Tapestry expect?

• Build Emotional Connections with Consumers: The Company aims to drive new customer acquisition, with a focus on Gen Z consumers entering the market to build brand love and lifetime value. • Fuel Fashion Innovation & Product Excellence: The Company aims to lead with handbags and leathergoods with targeted lifestyle expansion in footwear. • Deliver Compelling Experiences to Drive Global Growth: The Company aims to sustain growth in North America and accelerate momentum in international markets, prioritizing Greater China and Europe.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.