Earnings Call
Aug 13, 2026
Q2 FY2026
EPS Estimate
1.26
EPS Actual
2.69
Post-Earnings Close
$128.39
Earnings Reaction
-16.5%
Tapestry's fiscal second quarter, the critical holiday period, produced results that were exceptional by almost any measure. Pro forma revenue grew 18% year over year, adjusted operating margin expanded 390 basis points, and EPS of $2.69 rose 34%, each materially ahead of guidance. The company responded by raising its full-year EPS outlook to $6.40, $6.45, a range that is roughly $0.80 or 15% above the prior guide issued just three months earlier, and that puts Tapestry approximately two years ahead of the earnings trajectory it laid out at its September Investor Day. The magnitude of the raise, and management's framing of fiscal 2026 as a 'rebaseline' rather than a peak, is the central message investors should take from this call.
Report generated on May 8, 2026
AI-generated earnings analysis. Not investment advice.
Chief Executive Officer
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
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