Stuart Weitzman news and archive

Tapestry raises profit guidance on strong Q2

Tapestry’s net sales in the second quarter totaled 2.08 billion dollars, representing growth of 3 percent on both a reported and constant currency basis. Gross profit totaled 1.49 billion dollars, while gross margin was 71.6 percent, net income was 322 million dollars and earnings per diluted share were 1.39 dollars. On a non-GAAP basis, net...

Fashion |Interview Featured

Mercado Global founder discusses 20 years of bringing artisan skills to fashion industry

For nearly 20 years Ruth Álvarez-DeGolia, founder and executive director of Mercado Global, has helped indigenous women in rural central American build their own community businesses, using their heritage weaving traditions to create accessories for the international fashion market. Mercado Global products can be found in Shopbop, Bloomingdales,...

ManagementFeatured

Coach owner Tapestry posts marginal sales growth

First quarter net sales at Tapestry totalled 1.51 billion dollars, slightly above the prior year. Excluding a 130 basis point headwind from currency due to the appreciation of the U.S. dollar revenue increased approximately 2 percent versus last year. Gross profit for the quarter was 1.10 billion dollars, while gross margin was 72.5 percent,...

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Stuart Weitzman signs eyewear agreement with Safilo

Safilo Group and luxury footwear brand Stuart Weitzman have entered into an exclusive global licensing agreement, that runs through June 2029, for the design, manufacturing and distribution of Stuart Weitzman branded sunglasses and optical eyewear collections. “Building on our long history and successful collaboration with Tapestry, Inc. we are...

ManagementFeatured

Coach parent Tapestry posts increase in Q4 profit, sales remain flat

Coach owner Tapestry has reported widening profit in the fourth quarter despite its sales remaining flat. The group, which last week announced plans to acquire rival US fashion giant Capri Holdings, made a net profit of 224 million dollars in the three months ended July 1, up from 189 million dollars a year earlier. Sales in the fourth quarter...

ManagementFeatured

Coach parent Tapestry raises FY outlook on strong Q3

Luxury fashion group Tapestry has upped its full-year guidance after outperforming its own expectations in the third quarter of the year. The New York-based group, which owns brands Coach, Kate Spade, and Stuart Weitzman, reported a 5 percent increase in net sales to 1.51 billion dollars in the three months to April 1. The company saw strong...

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Tapestry appoints Alan Lau to its board of directors

Tapestry, Inc. has appointed Alan Lau to its board of directors. The appointment of Lau to the board brings the membership to eleven. Alan Lau is the chief business officer for Animoca Brands since July 2022. In this role, Lau oversees and provides support to the company’s more than 340 portfolio companies and leads M&A and business development....

ManagementFeatured

Coach owner Tapestry ups FY profit outlook

Luxury fashion group Tapestry has upped its full-year profit guidance after reporting record earnings in the second quarter. The New York-based group, which owns brands Coach, Kate Spade, and Stuart Weitzman, said it now expects earnings per diluted share (EPS) of between 3.70 dollars and 3.75 dollars, up from previous guidance of between 3.60...

ManagementFeatured

Coach parent Tapestry expects currency headwinds to impact FY23 results

For its first quarter Tapestry, Inc., parent to Coach, Kate Spade, and Stuart Weitzman, reported net sales of 1.51 billion dollars, an increase of approximately 2 percent. The company said, excluding a 370 basis point headwind from currency due to the appreciation of the U.S. dollar revenue rose over 5 percent versus last year. Gross profit...

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Tapestry sets 8 billion dollars revenue goal by 2025

Tapestry, parent company of Coach, Kate Spade and Stuart Weitzman plans to achieve revenue of 8 billion dollars by fiscal year 2025, representing a three-year CAGR of 6 percent to 7 percent. The company expects to reach earnings per diluted share of over 5 dollars, for a low-to-mid-teens three-year CAGR. Commenting on the plan, Joanne...

Fashion

Stuart Weitzman launches capsule collection with Disney

Luxury footwear brand Stuart Weitzman is launching a collaboration with Disney, consisting of a capsule shoe collection. The Tapestry-owned company said its first global partnership with the animator platform will merge both brands’ most iconic silhouettes — the world-renowned characters, Disney’s Mickey Mouse and Minnie Mouse, and the designer’...

ManagementFeatured

Tapestry's FY22 revenues grow 15 percent, digital sales cross 2 billion dollars

Tapestry, Inc. reported fourth quarter revenue of 1.6 billion dollars, representing 7 percent growth over FY19 pre-pandemic levels. Compared to last year, net sales increased approximately 1 percent on a reported basis. For the fiscal year 2022, Tapestry achieved 6.7 billion dollars in revenue, representing an increase of over 15 percent...