Filing Flows › Tapestry (TPR) › Q1 FY27 › vs Q4 FY26
Tapestry (TPR) Q1 FY27 vs Q4 FY26 (quarter over quarter)
Tapestry's revenue rose $17.4M (+0.9%) from $1.9B in Q4 FY26 to $1.9B in Q1 FY27. The biggest changes: Coach +$19.5M (+1%); Kate Spade −$2.1M (-0.9%). Gross margin 78.6% against 83.3% (-4.8 pts).
Tapestry, Q1 FY27: revenue $1.9B (+11% year over year), operating margin 22.4%, net earnings $360M, operating cash flow $197M. The chart draws each line against Q4 FY26, the increases inside each band.
Margins
| Q1 FY27 | Q4 FY26 | Change | |
|---|---|---|---|
| Gross margin | 78.6% | 83.3% | -4.8 pts |
| Operating margin | 22.4% | 23.6% | -1.2 pts |
| Net margin | 19.0% | 18.5% | +0.5 pts |
| Free cash flow margin | 7.9% | 25.0% | -17.1 pts |
Every line
| Line | Q1 FY27 | Q4 FY26 | Change | % |
|---|---|---|---|---|
| Coach | $1.7B | $1.6B | $19.5M | +1% |
| Kate Spade | $233M | $235M | −$2.1M | -0.9% |
| Revenue | $1.9B | $1.9B | $17.4M | +0.9% |
| Gross profit | $1.5B | $1.6B | −$75.6M | -5% |
| Cost of revenue | $406M | $313M | $93.0M | +30% |
| Operating profit | $424M | $442M | −$18.3M | -4% |
| Operating expenses | $1.1B | $1.1B | −$57.3M | -5% |
| Pre-tax earnings | $411M | $429M | −$17.8M | -4% |
| Other expense, net | $13.0M | $13.5M | −$500K | -4% |
| Net earnings | $360M | $348M | $12.2M | +4% |
| Income tax | $51.0M | $81.0M | −$30.0M | -37% |
| Depreciation & amortization | $40.0M | $45.2M | −$5.2M | -12% |
| Share-based compensation | $31.0M | $25.5M | $5.5M | +22% |
| Working capital & other | $234M | −$104M | $338M | — |
| Operating cash flow | $197M | $522M | −$325M | -62% |
| Free cash flow (OCF − capex) | $149M | $469M | −$320M | -68% |
| Capital expenditures | $48.0M | $53.2M | −$5.2M | -10% |
Questions
How much did Tapestry's revenue grow quarter over quarter in Q1 FY27?
Tapestry's revenue rose $17.4M (+0.9%) from $1.9B in Q4 FY26 to $1.9B in Q1 FY27.
What drove Tapestry's revenue change in Q1 FY27?
Coach +$19.5M (+1%); Kate Spade −$2.1M (-0.9%).