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How Tapestry (TPR) makes money
Tapestry (TPR) made $1.9B of revenue in the first quarter fiscal 2027 (Q1 FY27), +12% from a year earlier. Coach brought in $1.7B (88%); Kate Spade brought in $233M (12%). Of every dollar of revenue, 79¢ was left as gross profit, 22¢ was left as operating profit, 19¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q1 FY27
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Coach | $1.7B | 87.7% | +1% | +16% |
| Kate Spade | $233M | 12.3% | -0.9% | -10% |
Where each dollar of revenue goes
| Line | Q1 FY27 | % of revenue |
|---|---|---|
| Revenue | $1.9B | 100.0% |
| Cost of revenue | $406M | 21.4% |
| Gross profit | $1.5B | 78.6% |
| Operating expenses | $1.1B | 56.2% |
| Operating profit | $424M | 22.4% |
| Income tax | $51.0M | 2.7% |
| Net earnings | $360M | 19.0% |
| Operating cash flow | $197M | 10.4% |
| Free cash flow | $149M | 7.9% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q1 FY27 | $1.9B | +11% |
| Q4 FY26 | $1.9B | +9% |
| Q3 FY26 | $1.9B | +21% |
| Q2 FY26 | $2.5B | +14% |
| Q1 FY26 | $1.7B | +13% |
| Q4 FY25 | $1.7B | +8% |
| Q3 FY25 | $1.6B | +7% |
From Tapestry's 10-Q filed Nov 5, 2026 (on EDGAR).
Questions
How does Tapestry make money?
Tapestry (TPR) made $1.9B of revenue in the first quarter fiscal 2027 (Q1 FY27), +12% from a year earlier. Coach brought in $1.7B (88%); Kate Spade brought in $233M (12%). Of every dollar of revenue, 79¢ was left as gross profit, 22¢ was left as operating profit, 19¢ was left as net earnings.
What is Tapestry's biggest business?
Coach: $1.7B in the first quarter fiscal 2027, 88% of revenue, +16% from a year earlier.
What is Tapestry's profit margin?
Net earnings were $360M, 19.0% of revenue, in the first quarter fiscal 2027; the operating margin was 22.4%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.