Shares fell nearly 15%, the parent company of Coach and Kate Spade.
Let’s lay out the numbers first: Q4 revenue was $1.88 billion, up 9% year over year, in line with expectations; EPS was $1.32, beating expectations by 3.4%; and the dividend was increased by 16%. Every earnings metric either beat expectations or met them.
Then came the FY2027 guidance: revenue of $8.4–8.5 billion, with a midpoint of $8.45 billion. Wall Street expected $8.47 billion—only a $20 million shortfall, a difference of less than 0.03%.
The stock price dropped 15%.
Understanding this requires some context: Tapestry’s stock had already surged significantly before the earnings release, and the market had priced in very high expectations. When the guidance was only "just" met and not topped, profit-taking at the high immediately kicked in. Kate Spade revenue declined 7% year over year—another drag. Coach is winning, while Kate Spade is still struggling, and the divergence between the two brands is widening.
This is the third time this year we’ve seen a "good earnings, bad reaction"—after Intel and Alphabet; now it’s Tapestry.
When a stock has already bounced a lot, what the market buys is "how much better than expected" it is, not whether things are simply good. The $20 million guidance gap wiped out 15% of market value—this is the most direct punishment the market applies to "good, but not good enough."
$BTC
#tapestry财报后股价跌近15%
Let’s lay out the numbers first: Q4 revenue was $1.88 billion, up 9% year over year, in line with expectations; EPS was $1.32, beating expectations by 3.4%; and the dividend was increased by 16%. Every earnings metric either beat expectations or met them.
Then came the FY2027 guidance: revenue of $8.4–8.5 billion, with a midpoint of $8.45 billion. Wall Street expected $8.47 billion—only a $20 million shortfall, a difference of less than 0.03%.
The stock price dropped 15%.
Understanding this requires some context: Tapestry’s stock had already surged significantly before the earnings release, and the market had priced in very high expectations. When the guidance was only "just" met and not topped, profit-taking at the high immediately kicked in. Kate Spade revenue declined 7% year over year—another drag. Coach is winning, while Kate Spade is still struggling, and the divergence between the two brands is widening.
This is the third time this year we’ve seen a "good earnings, bad reaction"—after Intel and Alphabet; now it’s Tapestry.
When a stock has already bounced a lot, what the market buys is "how much better than expected" it is, not whether things are simply good. The $20 million guidance gap wiped out 15% of market value—this is the most direct punishment the market applies to "good, but not good enough."
$BTC
#tapestry财报后股价跌近15%