NYSE$TPR
Tapestry, Inc · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Tapestry achieved record revenue and profit growth, reflecting brand vibrancy and successful execution of the Acceleration Program.
Tapestry, Inc. reported a strong fourth quarter and full-year fiscal 2022, with record annual sales of $6.7 billion and significant digital revenue growth. The company's focus on the consumer and successful execution of its Acceleration Program drove accelerated revenue and profit growth across its portfolio.
- Fueled a fourth quarter record $1.6 billion in revenue, representing 7% growth over FY19 pre-pandemic levels.
- Achieved non-GAAP EPS growth of 20% versus prior year on a comparable 13-week basis and 29% ahead of FY19 pre-pandemic levels.
- Delivered $2.0 billion in Digital sales, more than tripling versus FY19 pre-pandemic and accounting for 30% of total revenue.
- Recruited approximately 7.7 million new customers across channels in North America, representing a 10% increase versus prior year with growth in both stores and online.
Headline financials
Revenue & EPS history
Tapestry · Revenue · Quarterly
$1.63B
Revenue by segment
Tapestry · $1.62B total across 3 segments · Q4 2022
- Total Coach$1.21B+1.7%74.4%
- Total Kate Spade$344M+0.7%21.2%
- Stuart Weitzman$71.8M-15.4%4.4%
Forward guidance
Tapestry expects revenue in the area of $6.9 billion for Fiscal Year 2023. Earnings per diluted share of $3.80 to $3.90, representing double-digit growth compared to the prior year.
Tailwinds
- Revenue growth is expected to be approximately 6% to 7% on a constant currency basis.
- Net interest expense of approximately $35 million.
- Tax rate of approximately 21.0%.
- Weighted average diluted share count of approximately 242 million shares, incorporating approximately $700 million of expected share repurchases.
- Earnings per diluted share of $3.80 to $3.90, representing double-digit growth compared to the prior year.
Headwinds
- No further appreciation of the USD; information provided based on spot rates at the time of forecast.
- Continued gradual recovery in Greater China from Covid-related disruption; no further significant lockdowns or incremental supply chain pressures from the Covid-19 pandemic.
- No material worsening of inflationary pressures or consumer confidence.
- No benefit from the potential reinstatement of the Generalized System of Preferences (GSP).
- Revenue in the area of $6.9 billion. This represents an increase of 3% to 4% on a reported basis, which includes roughly 300 basis points of FX pressure.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2022
+0.2%
Avg return
Earnings day
+2.2%
Avg return
5 days after
+2.7%
Avg return
30 days after
56%
40 / 71 earnings
Positive
+18.8%
Q3 2022
Best reaction
-20.2%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | +1.7% | -12.0% | -6.0% | |
| Q2 2026 | +10.2% | +17.9% | +11.0% | |
| Q1 2026 | -9.5% | -6.7% | +6.4% | |
| Q3 2025 | +3.6% | +11.8% | +5.6% | |
| Q2 2025 | +12.0% | +10.9% | +2.1% | |
| Q1 2025 | +4.9% | +2.8% | +25.1% | |
| Q4 2024 | +6.4% | +6.4% | +12.6% | |
| Q3 2024 | +2.8% | +8.0% | +11.3% | |
| Q2 2024 | +4.1% | +5.8% | +16.7% | |
| Q1 2024 | +2.4% | +11.1% | +22.1% | |
| Q4 2023 | +0.8% | -14.2% | -22.7% | |
| Q3 2023 | +10.9% | +12.8% | +14.9% | |
| Q2 2023 | +2.8% | +4.4% | -4.3% | |
| Q1 2023 | +13.3% | +12.0% | +16.6% | |
| Q4 2022 | -0.8% | -1.6% | +2.1% | |
| Q3 2022 | +18.8% | +24.5% | +23.3% | |
| Q2 2022 | -3.8% | +0.0% | -15.6% | |
| Q1 2022 | +6.9% | +7.0% | +1.5% | |
| Q4 2021 | -2.1% | +4.5% | -2.6% | |
| Q3 2021 | +1.5% | -3.9% | -11.7% | |
| Q2 2021 | +8.5% | +10.8% | +21.1% | |
| Q1 2021 | +4.3% | +12.9% | +36.1% | |
| Q4 2020 | +2.1% | -1.7% | +3.5% | |
| Q3 2020 | -11.1% | -13.4% | -20.2% | |
| Q2 2020 | -1.5% | +0.7% | -23.6% | |
| Q1 2020 | -2.2% | +2.7% | -4.0% | |
| Q4 2019 | -20.2% | -15.8% | +0.7% | |
| Q3 2019 | +4.9% | +0.1% | -1.6% | |
| Q2 2019 | -13.9% | -10.1% | -14.7% | |
| Q1 2019 | +3.7% | +4.9% | -6.8% | |
| Q4 2018 | +9.7% | +8.3% | +5.3% | |
| Q3 2018 | -13.8% | -14.2% | -18.7% | |
| Q2 2018 | +11.4% | +9.1% | +15.5% | |
| Q1 2018 | -3.4% | -1.6% | +1.2% | |
| Q4 2017 | -15.0% | -15.7% | -13.1% | |
| Q3 2017 | +10.1% | +10.1% | +19.2% | |
| Q2 2017 | +5.1% | +2.2% | +6.8% | |
| Q1 2017 | -1.2% | -1.5% | +1.1% | |
| Q4 2016 | -4.5% | -5.1% | -9.7% | |
| Q3 2016 | +4.5% | — | — | |
| Q2 2016 | +12.7% | — | — | |
| Q1 2016 | +2.2% | — | — | |
| Q4 2015 | +4.3% | — | — | |
| Q3 2015 | -9.0% | — | — | |
| Q2 2015 | +2.0% | — | — | |
| Q1 2015 | -6.5% | — | — | |
| Q4 2014 | +2.3% | — | — | |
| Q3 2014 | -11.4% | — | — | |
| Q2 2014 | -6.1% | — | — | |
| Q1 2014 | -10.4% | — | — | |
| Q4 2013 | -8.2% | — | — | |
| Q3 2013 | +11.2% | — | — | |
| Q2 2013 | -16.1% | — | — | |
| Q1 2013 | +6.0% | — | — | |
| Q4 2012 | -17.7% | — | — | |
| Q3 2012 | -4.0% | — | — | |
| Q2 2012 | +7.9% | — | — | |
| Q1 2012 | -0.4% | — | — | |
| Q4 2011 | +1.2% | — | — | |
| Q3 2011 | +0.9% | — | — | |
| Q2 2011 | +0.7% | — | — | |
| Q1 2011 | -0.5% | — | — | |
| Q4 2008 | -1.7% | — | — | |
| Q4 2010 | -1.7% | — | — | |
| Q3 2010 | -6.5% | — | — | |
| Q3 2009 | -6.5% | — | — | |
| Q2 2010 | -3.5% | — | — | |
| Q2 2009 | -3.5% | — | — | |
| Q1 2009 | +3.5% | — | — | |
| Q4 2009 | +3.5% | — | — | |
| Q1 2010 | +3.5% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro