Tapestry shares fell 14.8% in morning trading after the luxury fashion conglomerate issued a fiscal 2027 revenue forecast that fell slightly short of analyst expectations, overshadowing a strong fourth-quarter earnings beat. The company reported revenue of $1.88 billion, up 9% year over year, and non-GAAP EPS of $1.32, beating the $1.28 consensus, driven by 15% growth at its Coach brand. The board also approved a 16% increase to the quarterly dividend. However, the fiscal 2027 revenue outlook of $8.4 billion to $8.5 billion, with a midpoint of $8.45 billion, came in just below the $8.47 billion analyst consensus, prompting profit-taking given the stock's recent rally and ongoing sales declines at Kate Spade.
Tapestry IncFiscal 2027 revenue forecast below consensus, despite Q4 beat and dividend hike.
