Filing Flows › Tapestry (TPR) › Q1 FY26
Tapestry (TPR) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Nov 6, 2025
Tapestry (TPR) reported revenue of $1.7B for the first quarter fiscal 2026 (Q1 FY26), +13% from a year earlier and -1% from the quarter before. Operating margin was 19.2%, net earnings $275M (16.1% of revenue).
Tapestry, Q1 FY26: revenue $1.7B (+13% year over year), operating margin 19.2%, net earnings $275M, operating cash flow $113M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.7B | -1% | +13% |
| Gross profit | $1.3B | -1% | +15% |
| Operating profit | $328M | — | +30% |
| Net earnings | $275M | — | +47% |
| Operating cash flow | $113M | -75% | -5% |
| Free cash flow | $81.0M | -80% | -14% |
What changed
Revenue was $1.7B in Q1 FY26, up 13% year over year and down 1% from the previous quarter. Coach was the largest line at 84% of revenue. Coach added $0.26B year over year (up 22%), 131% of the total change. Stuart Weitzman declined 73%.
Gross margin was 76.3%, up 1.0 points from a year earlier. Operating profit was $0.33B, a 19.2% margin (up 2.5 points year over year). Of the extra revenue versus a year earlier, 38% reached operating profit, above the 17% margin then. Operating expenses grew 10% against revenue growth of 13%. Net earnings were $0.28B, up 47% year over year. The effective tax rate was 13.8%.
Operating cash flow was $0.11B (down 5% year over year), 41% of net earnings. Non-cash charges added back $0.04B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.22B. Capital expenditures of $0.03B left free cash flow of $0.08B.
Questions
What was Tapestry's revenue in the first quarter fiscal 2026?
Tapestry (TPR) reported revenue of $1.7B for the first quarter fiscal 2026 (Q1 FY26), +13% from a year earlier and -1% from the quarter before.
Was Tapestry profitable in the first quarter fiscal 2026?
Operating profit was $328M (19.2% of revenue) and net earnings $275M.
Source: Tapestry 10-Q on SEC EDGAR.