Slide 1: Tapestry: Coach | Kate Spade
tapestry COACH | kate spade ll {
Slide 2: Forward-looking statements
This presentation contains certain “forward -looking statements” based on management’s current expectations. Forward -looking stat ements include, but are not limited to, the statements under “Financial Outlook,” statements regarding long term performance, statements regarding the Company’s capital
Slide 3: Purpose: Stretch What's Possible
Purpose Stretch What’s Possible [breaking boundaries] [continuous innovation] Purpose 3
Slide 4: Values
Values DEDICATED TO THE HOLD TO HIGH EMBRACE DIFFERENCE BREAK THROUGH STAND TALLER DREAM STANDARDS BY DESIGN WITH MAGIC & LOGIC TOGETHER Built by go -getters who saw From how we source, to how The kind of ingenuity that Art and science. Design and At Tapestry, we create the unseen needs and took we
Slide 5: Vision
Vision Give more people the power to bring their own style and story into the world. STRETCH speaks to how tensions challenge and pull us in new directions. These tensions compel us to look beyond ourselves and embrace new perspectives, experiences and ideas. WHAT’S POSSIBLE refers to what happens w
Slide 6: Tapestry at a glance
~$7B 1,291 ~60 ~18,000 NET SALES DIRECTLY COUNTRIES EMPLOYEES OPERATED STORES Figures as of FY25, excluding Stuart Weitzman 6
Slide 7: Our Amplify Growth Strategies
Our Amplify Growth Strategies Deliver Build Fuel Fashion COMPELLING Ignite the EMOTIONAL INNOVATION EXPERIENCES POWER OF OUR CONNECTIONS & Product to Drive Global PEOPLE With Consumers EXCELLENCE Growth GROW IN KEY MARKETS FUTURE - PROOF DRIVE NEW LEAD WITH OF NORTH AMERICA, OUR GROWTH CUSTOMER LEAT
Slide 8: Our Competitive Advantages
Our Competitive Advantages CONSUMER - ATTRACTIVE GLOBAL, AGILE ICONIC LED & DATA - TALENTED & TAM & CORE FLEXIBLE SUPPLY BRANDS DRIVEN PROVEN TEAM CATEGORIES DTC MODEL CHAIN CAPABILITIES 8
Slide 9: Iconic Brands
kate spade NEW YORK
Slide 10: Expressive & Uplifting Luxury to Very Large Audiences
Attractive TAM FY25 ADDRESSABLE POPULATION WE BRING 8.2B GLOBAL POPULATION Expressive & Uplifting 1.9B GLOBAL ADDRESSABLE POPULATION Luxury to Very Large 275M POINT OF MARKET ENTRY (AGED 18 -27) Audiences Note: Total addressable population sourced from Euromonitor and reflects 18 –64-year-old qualif
Slide 11: Attractive Core Categories
Attractive Core Categories GLOBAL PREMIUM MARKET $B Handbags, SLGs & FTW FOOTWEAR BAGS/SLGS 5% CAGR 98 103 105 32 105 32 83 31 80 79 30 75 71 67 26 62 64 27 59 30 55 29 52 28 50 48 27 46 47 27 26 40 43 26 37 38 22 24 33 34 35 24 21 20 73 73 23 68 72 23 57 23 23 52 22 22 23 46 50 22 40 43 33 35 38 27
Slide 12: Global, Flexible DTC Model
Global, Flexible DTC Model Other Greater 11% China Footwear 15% Digital 6% Europe 30% 6% North Category Other Geography America Channel Handbags Asia 64% Stores Accessories 56% 13% 57% 27% Wholesale & Other Rest of 13% World 2% ▪ Attractive and high -margin categories ▪ Growing and increasingly youn
Slide 13: Consumer-led & Data-driven Capabilities
Consumer-led & Data -driven Capabilities Embedding Consumer Insights, Data, and AI ACROSS THE VALUE CHAIN ASSORTMENT CUSTOMER DESIGN PRICING OPERATIONS MARKETING PLANNING EXPERIENCE 13
Slide 14: Agile Supply Chain
Agile Supply Chain Consistently Delivering Craftsmanship at Scale Best-in-class Global Diversified Agility Technology Talent & Strategic Scale Footprint & Speed & AI Relationships Global sourcing, Regional supplier Flexible operations Supply chain with Deep supply chain manufacturing, and logistics
Slide 15: Talented & Proven Team
Talented & Proven Team Joanne Scott Todd Eva Sandeep Crevoiserat Roe Kahn Erdmann Seth CHIEF EXECUTIVE CHIEF FINANCIAL OFFICER CHIEF EXECUTIVE OFFICER & CHIEF EXECUTIVE OFFICER & CHIEF GROWTH OFFICER & OFFICER & CHIEF OPERATING OFFICER BRAND PRESIDENT, COACH BRAND PRESIDENT, KATE SPADE PRESIDENT, TA
Slide 16: Our Investment Thesis is Compelling
Our Investment Thesis is Compelling FIX – similar to brand page? Differentiated company with scaled competitive advantages and strong momentum in an attractive category Proven strategies and consistent execution to drive durable, organic growth Powerful brands and data-driven, direct -to consumer bu
Slide 17: Results Overview & Financial Outlook
Results Overview & Financial Outlook
Slide 18: Q1 Highlights
Q1 Highlights Outperformed expectations, marking a powerful start to the next chapter of growth DELIVERED RECORD REVENUE OF DROVE GLOBAL SALES (1) GROWTH OF ACQUIRED MORE THAN $1.7 billion 16% 2.2 million WITH DOUBLE -DIGIT GROWTH IN NORTH VERSUS PRIOR YEAR, FUELED BY NEW CUSTOMERS GLOBALLY, DRIVEN
Slide 19: Revenue Trends by Geography: FY26 Q1
Revenue Trends by Geography:FY26 Q1 Japan Europe Q1 -10% VS. LY Q1 +32% VS. LY Sales declined, as Growth continued with expected, amid a North America strength across all challenging consumer Q1 +18% VS. LY channels, driven by backdrop increased local Revenue accelerated led consumer spend and by 26
Slide 20: CEO quote on Amplify plan and raised outlook
“At our investor day in September, we introduced our Amplify plan – a bold vision to bring Tapestry’s iconic brands to new generations of consumers and drive durable growth . Our first quarter outperformance marked a powerful start to this next chapter. From this position of strength, we are raising
Slide 21: P&L Overview by Brand: FY26 Q1
P&L Overview by Brand: FY26 Q1 TAPESTRY COACH KATE SPADE PRO FORMA NET SALES (1) $1.69B $1.43B $260M +16% vs. LY +21% vs. LY -9% vs. LY GROSS PROFIT $1.29B $1.13B $167M 76.5% margin 78.8% margin 64.1% margin SG&A EXPENSES $939M $637M $161M 55.6% of sales 44.6% of sales 61.9% of sales OPERATING INCOM
Slide 22: Coach Highlights: FY26 Q1
Coach Highlights: FY26 Q1 Delivered revenue growth of 21% at constant currency, with double -digit gains in North America (+26%), Greater China (+21%), and Europe (+39%), highlighting the growing desire for the brand and its distinctive Expressive Luxury positioning Welcomed over 1.7 million new cus
Slide 23: Kate Spade Highlights: FY26 Q1
Kate Spade Highlights: FY26 Q1 Achieved sequential improvement in topline trends ; revenue decline d 9% as actions to reset the brand for durable and profitable growth are underway Drove progress against key KPIs and areas of strategic focus, with a lift in consideration and improvement in Gen Z acq
Slide 24: Raised Fiscal 2026 Revenue and Earnings Outlook
Raised Fiscal 2026 Revenue and Earnings Outlook CURRENT FY26 OUTLOOK FY26 Q2 EXPECTATIONS REVENUE In the area of $7.3 billion n/a Pro forma growth in the area of 7%, including an FX tailwind REVENUE GROWTH (1) Pro forma growth of 7% to 8%, including a 70 bps FX tailwind of nearly 50 bps Decline in t
Slide 25: Capital Allocation Priorities
Capital Allocation Priorities Focused on Driving Growth, Profitability, and Shareholder Value CASH FLOW GENERATION & BALANCE SHEET FOUNDATIONAL COMMITMENTS FLEXIBILITY FOR VALUE CREATION 01 REINVEST IN 02 RETURN 03 SHARE 04 STRATEGIC BRANDS CAPITAL VIA REPURCHASE PORTFOLIO & BUSINESS DIVIDEND PROGRA
Slide 26: Committed to Creating Value for Shareholders
Committed to Creating Value for Shareholders SHARE REPURCHASES ▪ Expect to buy back approximately $1.0 billion in common stock in Fiscal 2026, an increase from original outlook of $800 million Expect to return ▪ Spent $500 million in the first quarter to repurchase over 4.7 million $1.3 billionor 10
Slide 27: Overview by Brand
Overview by Brand
Slide 28: Coach
Slide 29: Courage to Be Real
COACH’S BRAND PURPOSE IS TO INSPIRE PEOPLE TO EXPRESS THEIR MANY SELVES AND HAVE THE COURAGE TO BE REAL . THIS PURPOSE IS GROUNDED IN CURRENT CONSUMER TRUTHS —THE MANY POSSIBILITIES OF SELF AND THE CHANGING NATURE OF “REAL.” WITH EVERY PRODUCT AND EXPERIENCE COACH CREATES, WE AIM TO INSPIRE OUR CONS
Slide 30: Coach at a glance
$5.6B 930 ~50 12,300 DIRECTLY NET SALES OPERATED STORES COUNTRIES EMPLOYEES As of FY25. 30
Slide 31: Coach Revenue Breakdown
Coach Revenue Breakdown Other Greater Wholesale 9% China & Other Footwear 17% 13% 6% Europe 6% Accessories Category Geography Channel 27% Handbags Other Asia 58% North 14% America 61% Direct to Consumer Rest of 87% World 2% As of FY25. 31
Slide 32: Coach Growth Strategies
Coach Growth Strategies CREATE EMOTIONAL LEAD WITH INNOVATE CONNECTIONS INNOVATION THAT OMNICHANNEL THROUGH BRAND ENCOURAGES EXPERIENCES BUILDING SELF - EXPRESSION 32
Slide 33: Kate Spade
Slide 34: Kate Spade brand purpose
S I N C E O U R B E G I N N I N G I N 1 9 9 3 , W E ’ V E B E L I E V E D T H AT S T Y L E I S A LANGUAGE OF OPTIMISM – WELCOMING, THOUGHTFUL, AND D E L I G H T F U L LY U N E X P E C T E D . W E D E S I G N N O T O N LY W H AT ’ S B E A U T I F U L T O S E E , B U T W H AT F E E L S G O O D T O L I
Slide 35: Kate Spade at a glance
$1.2B 360 ~40 4,000 NET SALES DIRECTLY COUNTRIES EMPLOYEES OPERATED STORES As of FY25. 35
Slide 36: Kate Spade Revenue Breakdown
Kate Spade Revenue Breakdown Greater Europe China Wholesale Other 5% 4% Other & Other 21% Asia 16% 10% Rest of Footwear World 3% 5% Category Handbags Geography Channel 52% North America Accessories 78% 22% Direct to Consumer 84% As of FY25. 36
Slide 37: Kate Spade Growth Strategies
Kate Spade Growth Strategies FUEL BRAND MAXIMIZE HEAT & DRIVE BUILD HANDBAG OMNICHANNEL CUSTOMER BLOCKBUSTERS COHESIVENESS ACQUISITION 37
Slide 38: Corporate Responsibility
Corporate Responsibility
Slide 39: Ambition: To Make Every Beautiful Choice a Responsible Choice
The Fabric of Change CREATE PRODUCTS UPLIFT OUR SUSTAIN POWER OF WITH CARE COMMUNITIES THE PLANET OUR PEOPLE Ambition: To Make Every Beautiful Choice a Responsible Choice 39
Slide 40: Appendix
Appendix
Slide 41: Non-GAAP and constant currency measures
Management utilizes non-GAAP and constant currency measures to conduct and evaluate its business during its regular review of operating results for the periods affected and to make decisions about Company resources and performance. The Company believes presenting these non-GAAP measures, which exclu
Slide 42: Selected Financial Results (unaudited)
Selected Financial Results (unaudited) For the quarter ended September 27, 2025 and September 28, 2024 Quarter Ended in USD millions, except per share data, unaudited Constant Currency % September 27, 2025 September 28, 2024 % Change Change Net sales 1,704.6 1,507.5 13% 12% Pro Forma Net sales (1) 1
Slide 43: Detail to Net Sales
Detail to Net Sales For the quarter ended September 27, 2025 and September 28, 2024 Quarter Ended in millions, unaudited Constant Currency % September 27, 2025 September 28, 2024 % Change Change Coach $1,429.8 $1,170.6 22 % 21 % Kate Spade 260.2 283.2 (8)% (9)% Stuart Weitzman 14.6 53.7 (73)% (73)%
Slide 44: Consolidated Segment Data and GAAP to Non-GAAP Reconciliation
Consolidated Segment Data and GAAP to Non-GAAP Reconciliation For the quarter ended September 27, 2025 GAAP BASIS ACQUISITION AND ORGANIZATIONAL NON-GAAP BASIS in millions, except per share data; unaudited (AS REPORTED) DIVESTITURE COSTS (*) EFFICIENCY COSTS (**) (EXCLUDING ITEMS) Coach $1,126.0 $-
Slide 45: Consolidated Segment Data and GAAP to Non-GAAP Reconciliation
Consolidated Segment Data and GAAP to Non-GAAP Reconciliation For the quarter ended September 28, 2024 GAAP BASIS NON-GAAP BASIS in millions, except per share data; unaudited (AS REPORTED) ACQUISITION COSTS (*) (EXCLUDING ITEMS) Coach $916.1 $- $916.1 Kate Spade 189.6 - 189.6 Stuart Weitzman 29.2 -
Slide 46: Adjusted Free Cash Flow GAAP to Non-GAAP Reconciliation
Adjusted Free Cash Flow GAAP to Non -GAAP Reconciliation For the quarter ended September 27, 2025 and September 28, 2024 Quarter Ended in millions, unaudited September 27, 2025 September 28, 2024 Net cash provided by (used in) operating activities (GAAP) $112.6 $119.5 Purchases of property and equip
Slide 47: © 2025 Tapestry, Inc.
tapestry COACH | kate spade ll {