Filing Flows › Tapestry (TPR) › Q4 FY26 › vs Q3 FY26
Tapestry (TPR) Q4 FY26 vs Q3 FY26 (quarter over quarter)
Tapestry's revenue fell $44.0M (-2%) from $1.9B in Q3 FY26 to $1.9B in Q4 FY26. The biggest changes: Coach −$59.5M (-3%); Kate Spade +$15.5M (+7%). Gross margin 83.3% against 76.9% (+6.4 pts).
Tapestry, Q4 FY26: revenue $1.9B (+9% year over year), operating margin 23.6%, net earnings $348M, operating cash flow $522M. The chart draws each line against Q3 FY26, the increases inside each band.
Margins
| Q4 FY26 | Q3 FY26 | Change | |
|---|---|---|---|
| Gross margin | 83.3% | 76.9% | +6.4 pts |
| Operating margin | 23.6% | 22.3% | +1.3 pts |
| Net margin | 18.5% | 17.9% | +0.6 pts |
| Free cash flow margin | 25.0% | 11.8% | +13.2 pts |
Every line
| Line | Q4 FY26 | Q3 FY26 | Change | % |
|---|---|---|---|---|
| Coach | $1.6B | $1.7B | −$59.5M | -3% |
| Kate Spade | $235M | $220M | $15.5M | +7% |
| Revenue | $1.9B | $1.9B | −$44.0M | -2% |
| Gross profit | $1.6B | $1.5B | $87.1M | +6% |
| Cost of revenue | $313M | $444M | −$131M | -30% |
| Operating profit | $442M | $428M | $14.8M | +3% |
| Operating expenses | $1.1B | $1.0B | $72.3M | +7% |
| Pre-tax earnings | $429M | $416M | $12.8M | +3% |
| Other expense, net | $13.5M | $11.5M | $2.0M | +17% |
| Net earnings | $348M | $344M | $4.0M | +1% |
| Income tax | $81.0M | $72.2M | $8.8M | +12% |
| Depreciation & amortization | $45.2M | $39.4M | $5.8M | +15% |
| Share-based compensation | $25.5M | $27.6M | −$2.1M | -8% |
| Working capital & other | $104M | −$148M | $252M | — |
| Operating cash flow | $522M | $263M | $260M | +99% |
| Free cash flow (OCF − capex) | $469M | $226M | $243M | +108% |
| Capital expenditures | $53.2M | $36.8M | $16.4M | +45% |
Questions
How much did Tapestry's revenue grow quarter over quarter in Q4 FY26?
Tapestry's revenue fell $44.0M (-2%) from $1.9B in Q3 FY26 to $1.9B in Q4 FY26.
What drove Tapestry's revenue change in Q4 FY26?
Coach −$59.5M (-3%); Kate Spade +$15.5M (+7%).