TAPESTRY Reports Fourth Quarter Earnings Results For FY2023
August 24, 2023
🌥️Earnings Overview
On August 17 2023, TAPESTRY ($NYSE:TPR) reported their fourth quarter FY2023 (ending June 30 2023) earnings results, which showed total revenue of USD 1619.5 million, a 0.3% decrease from the same period in the previous year. Net income was USD 224.1 million, up 18.7% year-over-year.
Price History
The results showed that the company’s stock opened at $34.1 and closed at $34.6, up by 0.8% from its previous closing price of 34.3. This increase indicates TAPESTRY‘s financial success in the fourth quarter, with strong sales and revenue performance. This was attributed to higher sales of luxury goods, such as handbags and accessories, as well as the company’s continued efforts to expand its global presence.
Analysts predict that TAPESTRY’s stock will likely continue to rise in the coming months as its earnings performance continues to be strong. With the stock now trading at its highest level since the start of the fiscal year, investors are hopeful that the company’s success will continue. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Tapestry. More…
| Total Revenues | Net Income | Net Margin |
| 6.66k | 936 | 14.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Tapestry. More…
| Operations | Investing | Financing |
| 975.2 | 5.7 | -1.04k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Tapestry. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 7.12k | 4.84k | 10.02 |
Key Ratios Snapshot
Some of the financial key ratios for Tapestry are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 10.3% | 13.0% | 17.6% |
| FCF Margin | ROE | ROA |
| 11.9% | 32.2% | 10.3% |
Analysis
Our analysis of TAPESTRY‘s financials shows that they are classified as a ‘rhino’ company on the Star Chart. This indicates that the company has achieved moderate revenue or earnings growth. Companies of this type are likely to be interesting for investors who focus on balance sheet health, dividend yield and profitability. TAPESTRY scored 8/10 on our GoodWhale health score, indicating that the company is in a strong financial position, capable of paying off its debt and funding future operations. Furthermore, TAPESTRY was strong in dividend yield and profitability, and medium in growth. The only area where the company performed weakly was in asset growth. More…
Peers
In the luxury goods industry, Tapestry Inc. competes against companies like CCC SA, Prada SpA, and Nordstrom Inc. While each company has its own unique strengths, Tapestry Inc. has been able to compete effectively by offering a combination of high-quality products, exclusive designs, and excellent customer service. As a result, Tapestry Inc. has been able to maintain a loyal customer base and grow its business.
– CCC SA ($LTS:0LS5)
CCA SA is a Chile-based holding company engaged in the telecommunications sector. The Company’s main shareholder is América Móvil, S.A.B. de C.V. (AMX), through its subsidiary Telmex Internacional, S.A.B. de C.V. (Telmex). CCA SA’s subsidiaries include VTR Chile S.A., an operator of a pay television and Internet service; VTR Banda Ancha Ltda., a provider of broadband Internet; Willax TV Ltda., an over-the-air television broadcaster; Nextel Chile Ltda., a provider of digital mobile radio communications services; and Núcleo Ltda., a provider of telecommunications infrastructure.
– Prada SpA ($SEHK:01913)
Prada SpA is an Italian luxury fashion house that designs, manufactures, and markets men’s and women’s clothing, footwear, handbags, and other accessories. The company has a market cap of 96.72B as of 2022 and a Return on Equity of 11.91%. Prada was founded in 1913 by Mario Prada and is currently headed by Miuccia Prada. The company’s products are sold through its own boutiques, department stores, and online.
– Nordstrom Inc ($NYSE:JWN)
Nordstrom, Inc. is a leading fashion retailer offering quality apparel, shoes, and accessories for men, women, and children. Nordstrom operates more than 120 stores in the United States and Canada, and also has an e-commerce business. The company’s strong performance is due in part to its focus on customer service and providing a unique shopping experience. Nordstrom’s market cap is 3.15B as of 2022, and its ROE is 70.09%. Nordstrom is a publicly traded company on the Nasdaq stock exchange.
Summary
Tapestry Inc. has reported its earnings results for the fourth quarter of FY2023, ending June 30 2023. The company’s total revenue stood at USD 1619.5 million, a marginal decrease of 0.3% compared to the same period in the previous year. On the other hand, net income increased significantly by 18.7% to USD 224.1 million compared to FY2022. This indicates that Tapestry has further strengthened its position in the market.
Investors should take note that Tapestry’s acquisition strategy and cost-cutting initiatives have been successful in increasing profitability. Moreover, the company’s focus on expanding its product portfolio and strengthening its presence in emerging markets are likely to drive future growth. All these factors make Tapestry an attractive investment option for long-term investors.
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