•	Delivered Fourth Quarter Revenue of $1.9 Billion, an Increase of 9% Versus Prior Year or 11% on a Pro Forma Constant Currency Basis, led by a 15% (+14% Constant Currency) Growth at Coach Brand

•	Achieved Annual Revenue of $8.0 Billion in Fiscal 2026, an Increase of 14% Versus Prior Year or 17% on a Pro Forma Constant Currency Basis, Driven by 24% (+23% Constant Currency) Growth at Coach Brand

•	Expanded Gross Margin and Operating Margin Versus Prior Year in Both Q4 and Fiscal 2026, Exceeding Guidance

•	Achieved Q4 GAAP Diluted EPS of $1.68 and Non-GAAP Diluted EPS of $1.32; Delivered Full Year GAAP Diluted EPS of $7.27 and Non-GAAP Diluted EPS of $7.05, Outperforming Guidance

•	Returned $1.7 Billion to Shareholders in Fiscal 2026 Through Dividends and Share Repurchases

•	Board of Directors Approves 16% Dividend Increase

•	Initiates Fiscal 2027 Outlook for Mid-Single Digit Revenue Growth, Continued Operating Margin Expansion, and Low-Double-Digit EPS Growth, Consistent with Long-Term Commitments

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Build Emotional Connection with Consumers

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Fuel Fashion Innovation and Product Excellence

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Deliver Compelling Experiences to Drive Global Growth

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Ignite the Power of our People

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Drove strong new customer acquisition globally, welcoming over 2.5 million new consumers in Q4 and approximately 11.0 million in FY26, with approximately 35% of new customers Gen Z; at the same time, increased engagement among existing customers, reflecting broad consumer appeal and enduring customer relationships;

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Achieved growth in the core leathergoods offering, led by strong handbag revenue gains at Coach, where handbag AUR increased at a mid-teens percentage rate in both Q4 and FY26; for the full year, leathergoods outperformance was driven by a combination of AUR and unit growth, underscoring the brand’s desirability, innovation, and value proposition while demonstrating diversified drivers of growth;

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Delivered broad-based growth across key regions, gaining market share, and expanding the overall category. On a pro forma constant currency basis, North America revenue grew 7% in the fourth quarter and 15% for the full year. Europe revenue grew 19% in the fourth quarter and 23% for the full year. Total APAC revenue grew 19% in both the fourth quarter and the full year. Within APAC, Greater China revenue grew 28% in the fourth quarter and 35% for the full year. Coach delivered double-digit revenue growth in every quarter of FY26, including 14% in the fourth quarter and 23% for the full year;

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Drove double-digit Direct-to-Consumer revenue growth on a pro forma constant currency basis, with Direct-to-Consumer revenue increasing 11% in the fourth quarter and 16% for the full year. Digital revenue grew at a mid-single-digit rate in the fourth quarter and at a high-teens rate for the full year, while store revenue increased at a mid-teens rate in both the quarter and the full year. Profitability increased across all channels, reflecting the strength of Tapestry's data-driven, agile operating model.

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Dividend: The Company returned $326 million to shareholders at an annual dividend of $1.60 per share in Fiscal 2026.

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Share Repurchases: Tapestry bought back $1.35 billion in common stock in Fiscal 2026, repurchasing approximately 11.5 million shares at an average share price of approximately $118.

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Dividend: The Board of Directors approved a 16% increase to the Company’s dividend, with a quarterly cash dividend of $0.4625 per common share payable on September 21, 2026 to shareholders of record as of close of business on September 4, 2026 for an anticipated annual dividend rate of $1.85 per share.

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Share Repurchases: Tapestry expects to buy back $1.35 billion in common stock in the fiscal year under its existing share repurchase authorization.

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Net sales totaled $1.88 billion, increasing 9% on a reported basis and 8% on a constant currency basis. Excluding Stuart Weitzman, pro forma net sales increased 12% on a reported basis and 11% on a constant currency basis.

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Gross profit totaled $1.56 billion on a GAAP basis compared to $1.32 billion in the prior year. On a non-GAAP basis, gross profit totaled $1.47 billion, while gross margin was 78.1%, representing an expansion of 180 basis points versus prior year, driven by operational improvements of approximately 170 basis points as well as a favorable impact from the divestiture of Stuart Weitzman of 60 basis points, partially offset by a negative tariff and duty impact of 60 basis points.

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SG&A expenses totaled $1.12 billion on a GAAP basis compared to $1.90 billion in the prior year. On a non-GAAP basis, SG&A expenses totaled $1.10 billion, representing 58.8% of sales or leverage of 80 basis points versus the prior year, including a 130-basis point increase in marketing investment.

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Operating income was $442 million on a GAAP basis, compared to the prior year operating loss of $583 million. On a non-GAAP basis, operating income was $362 million, an increase of 25% versus the prior year, while operating margin was 19.3%, representing an expansion of 250 basis points versus the prior year, including a 50-basis point favorable impact from the divestiture of Stuart Weitzman.

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Net interest expense was $12 million versus prior year net interest expense of $15 million.

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Other expense was $2 million versus other income of $4 million in the prior year.

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Tax rate was 18.9% on a GAAP basis and 21.3% on a non-GAAP basis versus the prior year tax rate of 12.9% on a GAAP basis and 19.9% on a non-GAAP basis.

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Earnings per diluted share was $1.68 on a GAAP basis compared to $(2.49) in the prior year.  Non-GAAP EPS was $1.32, an increase of 28% versus the prior year.

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Net sales totaled $8.00 billion, increasing 14% on a reported basis and 13% on a constant currency basis. Excluding Stuart Weitzman, pro forma net sales increased 18% on a reported basis and 17% on a constant currency basis.

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Gross profit totaled $6.23 billion on a GAAP basis compared to $5.29 billion in the prior year. On a non-GAAP basis, gross profit totaled $6.12 billion, while gross margin was 76.6%, representing expansion of 120 basis points versus the prior year, driven by operational improvements of approximately 200 basis points as well as a favorable impact from the divestiture of Stuart Weitzman of 60 basis points, partially offset by a negative tariff and duty impact of 130 basis points.

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SG&A expenses totaled $4.31 billion on a GAAP basis compared to $4.87 billion in the prior year. On a non-GAAP basis, SG&A expenses totaled $4.26 billion, representing 53.3% of sales, or leverage of approximately 210 basis points versus the prior year, including a 140-basis point increase in marketing investment.

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Operating income was $1.91 billion on a GAAP basis compared to $415 million in the prior year.  On a non-GAAP basis, operating income was $1.87 billion, an increase of 33% versus the prior year, while operating margin was 23.4%, representing expansion of approximately 340 basis points versus the prior year, including an 80-basis point favorable impact from the divestiture of Stuart Weitzman.

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Net interest expense was $55 million, compared to prior year net interest expense of $85 million on a GAAP basis and $25 million on a non-GAAP basis.

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Other income was $1 million versus $7 million in the prior year.

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Tax rate was 17.9% on a GAAP basis and 18.2% on a non-GAAP basis versus the prior year tax rate of 15.2% on a GAAP basis and 17.8% on a non-GAAP basis.

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Earnings per diluted share was $7.27 on a GAAP basis compared to $0.82 in the prior year.  Non-GAAP EPS was $7.05, up 38% versus the prior year.

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Cash, cash equivalents and short-term investments totaled $1.15 billion and total borrowings outstanding were $2.38 billion.  The Company’s leverage ratio, based on gross debt to adjusted EBITDA, was 1.1x as of the end of the fiscal year.

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Inventory was $826 million versus prior year ending inventory of $861 million.

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Cash flow from operating activities for the fiscal year was an inflow of $1.98 billion compared to an inflow of $1.22 billion in the prior year. Adjusted free cash flow for the fiscal year was an inflow of $1.86 billion compared to an inflow of $1.35 billion in the prior year.

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CapEx and implementation costs related to Cloud Computing for the fiscal year were $217 million versus $153 million a year ago.

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Revenue of $8.4 billion to $8.5 billion, representing mid-single digit growth on a nominal and constant currency basis versus the prior year.  Foreign currency is expected to be a 40 basis point benefit to revenue growth in the fiscal year;

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Operating margin expansion of approximately 50 basis points versus prior year;

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Net interest expense of approximately $55 million;

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Tax rate of approximately 18.5%;

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Weighted average diluted share count of approximately 203 million;

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Earnings per diluted share of $7.80 to $7.90, representing low-double-digit growth versus prior year;

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Adjusted free cash flow approaching $1.7 billion, including CapEx and Cloud Computing costs of $300 million or approximately 3% to 4% of revenue.

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Revenue growth of high-single-digits on a nominal and constant currency basis versus prior year pro forma revenue.  Foreign currency is expected to be a 30 basis point benefit to revenue growth in the fiscal quarter;

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Earnings per diluted share of approximately $1.55, representing low-teens growth versus prior year.

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Excludes the impact of the 53rd week in Fiscal 2027, which is expected to contribute an additional percentage point to annual revenue growth and have a neutral impact on operating margin for the full fiscal year;

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Embeds a mid-20% tariff rate on U.S. inventory receipts in Fiscal 2027, resulting in a neutral net impact from tariffs year-over-year;

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Embeds current global tax policies, including the impact of OECD Pillar Two guidance;

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Includes foreign currency exchange rates using spot rates at the time of forecast;

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Assumes no material worsening of inflationary pressures or consumer confidence.

Schedule 1: Consolidated Statements of Operations

Schedule 6:  Condensed Consolidated Statement of Cash Flows

Schedule 7:  Adjusted Free Cash Flow GAAP to Non-GAAP Reconciliation

Schedule 8: Adjusted EBITDA and Leverage Ratio GAAP to Non-GAAP Reconciliation