Short answer
Tapestry, Inc. (TPR) filed its fiscal 2025 10-K annual report with the SEC on Aug 14, 2025. It reported revenue of $7.0B (+5.1% year over year) and net income of $183M.
- Top risk flagged: Regulatory risk: Impact of U.S. tariffs on imports from select countries, projecting ~230 basis point operating margin hit in fiscal 2026 despite mitigating actions
FY2025 key financial metrics · XBRL
- Revenue
- $7.0B
- +5.1% YoY
- Net income
- $183M
- −77.5% YoY
- Operating margin
- 5.9%
- −11.2 pp YoY
- Gross margin
- 75.4%
- +2.1 pp YoY
- EPS (diluted)
- $0.82
- −76.6% YoY
- ROE
- 21.4%
- −6.8 pp YoY
- Operating cash flow
- $1.2B
- −3.1% YoY
Source: XBRL data from the Tapestry, Inc. (TPR) FY2025 10-K on SEC EDGAR. USD.
Tapestry, Inc. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Global house of iconic lifestyle and accessories brands including Coach and kate spade with multi-channel sales (DTC, wholesale, licensing)
- Strategic shift: Divestiture of Stuart Weitzman brand completed August 2025, refocusing portfolio and resources on Coach and kate spade brands
- Quantitative metric: Direct-to-consumer (DTC) sales approx. 86% of total net sales in fiscal 2025; retail store count declined to 1,371 from 1,402 in prior year
- Marketing spend: Increased marketing expenses to $744.5 million (11% of net sales) in FY 2025, up from $616.8 million (9% of net sales) in FY 2024
- Noteworthy: Continued digital and AI investments to enhance e-commerce and omni-channel customer personalization for growth and competitive advantage
Management Discussion & Analysis
- Capital expenditures and cloud costs $153M in fiscal 2025; inventory purchase obligations $353M including $24.6M Stuart Weitzman
- Cash and equivalents $1.1B, down $5B YoY; short-term investments $19.6M, down $1B YoY; long-term debt $2.38B, down $4.56B YoY
- $2B paid in accelerated share repurchase program completed Nov 2024; $800M remaining share repurchase authorization from 2022 program
- Kate Spade reported $244.1M goodwill and $610.7M brand impairment charges; Coach brand shows no impairment
- Management sees cash flows, credit, and liquidity sufficient for fiscal 2026; risks from economic volatility, profitability trends, macro factors noted
Risk Factors
- Regulatory risk: Impact of U.S. tariffs on imports from select countries, projecting ~230 basis point operating margin hit in fiscal 2026 despite mitigating actions
- Geopolitical risk: $13.4 million net sales decrease and 20 basis point operating margin negative impact in fiscal 2025 from U.S. Dollar fluctuations in key international markets
- Operational risk: $854.8 million impairment charges on Kate Spade goodwill and indefinite-lived brand assets due to reduced cash flow expectations partly from tariff cost increases
- Competitive risk: 10.3% net sales decline in Kate Spade segment in fiscal 2025 driven by lower Direct-To-Consumer sales in stores and online despite wholesale gains
- Financial risk: $120.1 million loss on extinguishment of debt in fiscal 2025 mainly from redemption premiums related to terminated Capri Acquisition senior notes
Generated from the filing text; verify against the original. How to read a 10-K
Other Tapestry, Inc. annual reports
Ask about this 10-K
Compare years, dig into a risk factor or check the numbers against insider trades and fund holders.