TAPESTRY Reports Fourth Quarter FY2023 Earnings Results on August 17 2023
August 18, 2023
🌥️Earnings Overview
On August 17 2023, TAPESTRY ($NYSE:TPR) reported their fourth quarter FY2023 earnings results, with total revenue of USD 1619.5 million, representing a slight 0.3% decrease year over year. Despite this decrease, net income showed an 18.7% increase from the same period in the prior year, reaching USD 224.1 million.
Price History
The stock opened at $34.1 and closed at $34.6, up by 0.8% from their last closing price of 34.3. This positive result demonstrates the company’s continued success in delivering strong quarterly results and indicates investors’ growing confidence in the organization’s future outlook. The company also reported positive results from their strategic initiatives.
Overall, TAPESTRY’s fourth quarter results are indicative of the company’s continued focus on innovation and efficiency, as well as their commitment to delivering value for shareholders. Going forward, investors should continue to watch the company’s progress in both their strategic initiatives and execution of their long-term plans. 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 | 9.76 |
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% | 32.3% | 10.3% |
Analysis
At GoodWhale, we have been running an analysis on TAPESTRY‘s fundamentals. We found that its Star Chart shows a high health score of 8/10, which indicates that TAPESTRY is capable to ride out any crisis without the risk of bankruptcy. After analyzing TAPESTRY’s dividend payments and other metrics, we conclude that the company is classified as a ‘cow’, meaning that it has the track record of paying out consistent and sustainable dividends. This analysis of TAPESTRY’s fundamentals makes it a very attractive investment opportunity for investors. Investors looking for dividends and consistent profitability should find TAPESTRY to be a valuable asset. TAPESTRY is strong in dividend and profitability, medium in growth and weak in asset, making it an ideal option for those looking for an income-generating investment. 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 recently reported its Financial Year 2023 fourth quarter results, with total revenue for the period recorded at USD 1619.5 million, representing a slight dip of 0.3% year-on-year. Nonetheless, net income increased by 18.7% to USD 224.1 million, indicating a strong performance in the market. For investors, the company’s record profits are an encouraging sign of potential future growth and profitability. Moreover, the company’s dedication to cost control and strategic investments is likely to drive further shareholder value in the future.
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