Tapestry, Inc. (TPR) SEC Filings & Earnings Calls

Tariff and Trade Policy Risk

“the impact of international trade disputes and the risks associated with potential changes to international trade and policy agreements, including the imposition or threat of imposition of new or increased tariffs” · word for word

Kate Spade Turnaround Risk

“Kate Spade $1,074.9 ... (11)% ... Our work to reignite Kate Spade has been deliberate and phased”

Consumer Demand Slowdown Risk

“the impact of economic conditions, recession and inflationary measures” · word for word

Kate Spade brand continues to decline (-7% in Q4).

“Kate Spade revenue -7% in Q4 and -10% for FY2026.”

Japan revenue decline (-11% reported) may indicate regional weakness.

“Japan revenue -11% reported in Q4.”

Tariff and trade policy uncertainty

“Changing tariff rates and shifting trade policies have created significant uncertainty for suppliers, consumers, and us.” · word for word

Kate Spade brand impairment risk

“the fair values of our Kate Spade brand reporting unit and brand intangibles exceeded their respective carrying values by approximately 30%.” · word for word

Consumer discretionary spending sensitivity

“Consumer purchases of discretionary items, such as the Company's products, tend to decline during recessionary periods or periods of sustained high unemployment when disposable income is lower.” · word for word

Kate Spade brand revenue declined 10% YoY; potential brand weakness

“Kate Spade 219.6... (10)%” · word for word

Tariff cost pressure on gross margin

“Gross margin was negatively impacted by approximately 180 basis points.” · word for word

Kate Spade segment deterioration

“Kate Spade net sales declined 10.3% YoY and segment turned to operating loss.”

Kate Spade brand underperformance

“Kate Spade net sales -14% in the quarter.”

Kate Spade goodwill and intangible impairment risk

“During the fourth quarter of fiscal year 2025, the Company recorded $244.1 million of impairment charges related to goodwill for the Kate Spade reporting unit and $610.7 million of impairment charges related to the Kate Spade indefinite-lived brand intangible.” · word for word

Litigation risk from terminated Capri acquisition

“Two separate putative securities class actions were filed on December 23, 2024 and January 28, 2025, by plaintiff shareholders... alleging that during the respective class periods... Capri and Tapestry misrepresented and failed to disclose adverse facts about Capri’s business, operations, market dynamics, and the prospects for approval of the Capri Acquisiti” · word for word

Kate Spade brand underperformance (-8% revenue decline) may require strategic attention.

“Kate Spade revenue -8% reported, -9% constant currency.”

Exposure to Greater China (20% growth) and Europe (32% growth) may be subject to geopolitical and macroeconomic risks.

“Greater China +20%; Europe +32%.”

Kate Spade brand impairment risk

“During the fourth quarter of fiscal year 2025, the Company recorded $244.1 million of impairment charges related to goodwill for the Kate Spade reporting unit and $610.7 million of impairment charges related to the Kate Spade indefinite-lived brand intangible.” · word for word

Tariff cost pressure

“Accrued liabilities were a use of cash of $71.1 million... primarily driven by... an increase in accrued duty driven by higher tariffs.” · word for word

Litigation risk from terminated Capri merger

“Two separate putative securities class actions were filed... alleging that during the respective class periods... Capri and Tapestry misrepresented and failed to disclose adverse facts about Capri’s business.” · word for word