Tapestry Inc (NYSE:TPR) on Thursday reported better than expected fiscal first quarter 2026 revenue and earnings, boosted by sales growth from its Coach fashion brand.
The company, which also owns the Kate Spade line, generated revenue of $1.70 billion in the quarter, up 13% year over year and better than the $1.64 billion analyst consensus estimate, according to a survey by LSEG.
Its Coach brands’s pro forma revenue increased 22% to $1.43 billion in Q1.
Tapestry also posted earnings per share for the period of $1.38, surpassing the $1.26 Wall Street forecast.
The company acquired more than 2.2 million new customers during Q1, of which about 35% were from the Gen Z demographic that ranges in age from 13 to 29 years.
Tapestry also boosted its full-year outlook for both sales and profits, saying it now expects revenue of $7.3 billion for the year, compared with $7.2 billion previously, along with earnings per share in a range of $5.45 to $5.60, higher than its prior guidance of $5.30 to $5.45.
Tapestry stock dropped nearly 11% to $97.86 in late-morning trading on Thursday.