Tapestry reports Q3 non-GAAP EPS 93c, consensus 90c

Reports Q3 revenue $1.51B, consensus $1.54B. CEO Joanne Crevoiserat said, “We achieved record Q1 revenue and EPS as we continued to successfully advance our strategic growth agenda against a dynamic external backdrop. Our strong and consistent results demonstrate the power of brand building and customer centricity, underpinned by the creativity of our talented global teams and disciplined execution. During the quarter, we drove revenue gains at constant currency, significant gross margin expansion, and high-teens adjusted EPS growth. Importantly, we continued to invest in our brands and consumer engagement platform, reinforcing our commitment to driving innovation and cultivating lasting relationships with customers around the world. As we move forward, we are in a position of strength with meaningful runway for sustainable growth. Through a relentless drive to fuel brand magic and deliver for our customers, we are confident in our ability to achieve organic top and bottom-line gains, supported by our data-driven, direct-to-consumer operating model that enables speed and agility. These advantages have powered Tapestry’s successful transformation and will unlock enhanced value for our stakeholders for years to come.”