Tapestry (TPR) Q1 FY2027 revenue $1.9 billion vs $1.88 billion est.; GAAP EPS $1.76; raises full-year guidance

Tapestry reported fiscal first-quarter revenue of $1.9 billion, up 11% year over year and ahead of the $1.88 billion consensus, with GAAP diluted EPS of $1.76 (up 38%) and non-GAAP EPS of $1.82 (up 32%). Coach brand sales grew 16%, gross margin expanded 230 basis points on a GAAP basis, and operating margin rose to 22.4% from 19.3%. CEO Joanne Crevoiserat attributed the beat to the company's Amplify strategy and said Tapestry is raising its full-year outlook on revenue, operating margin and earnings. The company returned roughly $700 million to shareholders through dividends and buybacks and lifted its fiscal 2027 capital return target to $2.0 billion, citing incremental repurchases. Investors will watch whether the raised guidance holds through the holiday season and whether Coach's momentum persists amid broader luxury demand uncertainty.