Tapestry, Inc., a New York-based house of iconic accessories and lifestyle brands consisting of Coach, Kate Spade, and Stuart Weitzman, is hosting its 2022 Investor Day at its headquarters in New York City today. In conjunction with the event, the Company is introducing its 2025 growth strategy and financial targets, building on the success of its Acceleration Program.
Joanne Crevoiserat, Chief Executive Officer of Tapestry, Inc., said “Over the last two years, we radically transformed our company, with a sharpened focus on the consumer and commitment to brand building, delivering standout results. From this strong foundation, we have tremendous runway and are poised to drive continued growth across each of our iconic brands. The environment is ever-changing, and we are ready to move at the speed of the consumer with agility and intention. Importantly, we are confident in our ability to fuel sustainable top and bottom-line gains and generate significant cash flow, creating meaningful value for all our stakeholders in the years to come.”
2025 Growth Strategy
At its Investor Day, Tapestry’s senior leadership team will present a detailed overview of the Company’s 2025 growth strategy, designed to amplify and extend the competitive advantages of its brands, with a focus on four strategic priorities:
Long-term Financial Targets
Scott Roe, Chief Financial Officer and Chief Operating Officer of Tapestry, Inc., said, “We have powerful brands that participate in attractive and durable categories with a business model that is both proven and profitable. We will remain balanced in our approach to fuelling revenue gains, operating margin expansion and earnings increases. At the same time, we will continue to be disciplined allocators of capital, with a plan to return $3 billion to shareholders through FY25, supported by our strong free cash flow. Together, we believe this will drive significant total shareholder returns over our planning horizon.”
Tapestry is introducing its Fiscal 2025 financial targets, including:
These targets incorporate the Company’s previously announced Fiscal 2023 outlook, which was provided with its fourth quarter earnings results in mid-August. As previously noted, this outlook assumed:
Given the dynamic nature of these and other external factors, financial results could differ materially from the outlook provided.
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