Slide 1: Tapestry
tapestry COACH | kate spade | STUART WEITZMAN © 2025 Tapestry, Inc.
Slide 2: Forward-looking statements
This presentation contains certain “forward-looking statements” based on management's current expectations. Forward-looking statements include, but are not limited to, the statements under “Financial Outlook,” statements regarding long term performance, statements regarding the Company's capital dep
Slide 3: Purpose
Purpose STRETCH WHAT'S POSSIBLE 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 when we embrace the creative tensions within each othe
Slide 4: Values
Values Built by go-getters who saw unseen needs and took daring leaps, we channel that same passion today, doing what it takes to make the dream happen and refusing to settle for anything less. From how we source, to how we sew, to how we sell, we insist on the highest integrity at each step, doing
Slide 5: Competitive Advantages
Competitive Advantages 01 02 O38 OL O05 tapestry 5
Slide 6: Kate Spade, Stuart Weitzman
kate spade NEW YORK STUART WEITZMAN tapestry
Slide 7: Attractive Categories
02 Attractive Categories RESILIENT CATEGORIES WITH CONTINUED. GROWTH EXPECTED IN COMPETITIVE MARKET WE PLAY IN Growing & High-margin Categories PERSONAL PREMIUM GOODS") HANDBAGS, SLGS, FTW & APPAREL‘) HANDBAGS, SLGS & FTW!) TAPESTRY FY24 J (1) Global market; Source: Euromonitor 2024 update, translat
Slide 8: Diversified Model with Omni-Channel Leadership
03 Diversified Model with Omni-Channel Leadership Women’s Accessories 21% Category Attractive and high-margin categories Resilient & durable demand given emotional & functional needs these categories fulfill Global leader in core categories with permission to play in lifestyle coum Geography China 1
Slide 9: Global Platform
04 Global Platform Modern, Data-driven & Agile Platform DESIGNED TO DRIVE CONSUMER ENGAGEMENT tapestry ’
Slide 10: Talented Team
05 Talented Team ad Joanne Crevoiserat CHIEF EXECUTIVE OFFICER Howard GENERAL COUNSEL AND SECRETARY Scott Roe CHIEF FINANCIAL, OFFICER & CHIEF OPERATING OFFICER Todd Kahn CEO & BRAND PRESIDENT, COACH ] Peter Charles Kulikowsky CHIEF PEOPLE CHIEF SUPPLY CHAIN OFFICER 4 vy asi Eva Erdmann Sandeep Seth
Slide 11: We're Powering Iconic Brands to Move at the Speed of the Consumer
WE'RE POWERING ICONIC BRANDS TO MOVE AT THE SPEED OF THE CONSUMER futurespeed
Slide 12: tapestry
tapestry
Slide 13: Second Quarter Highlights
Second Quarter Highlights Achieved record second quarter revenue, gross margin, and earnings per share‘), ahead of expectations; Raised full year outlook DELIVERED REVENUE OF WITH GROWTH IN NORTH AMERICA, EUROPE, AND GREATER CHINA EXPANDED GROSS MARGIN BY DRIVEN BY SIGNIFICANT OPERATIONAL OUTPERFORM
Slide 14: Revenue Trends by Geography: FY25 Q2
Revenue Trends by Geography: FY25 Q2 Growth rates shown on a constant currency basis. =~ tapestry 4
Slide 15: CEO quote on second quarter results
“Our strong second quarter results outperformed expectations, showcasing our commitment to disciplined brand building. Our exceptional teams brought innovation and craftsmanship to consumers around the world this holiday season, driving accelerated top and bottom-line growth to achieve record quarte
Slide 16: P&L Overview by Brand: FY25 Q2
P&L Overview by Brand: FY25 Q2 TAPESTRY, COACH KATE SPADE STUART WEITZMAN NET REVENUE” $2.20B $1.71B $416M $70M +5% vs. LY +10% vs. LY -10% vs. LY -16% vs. LY GROSS PROFIT $1.63B $1.32B $274M $41M 74.4% margin 77.1% margin 65.7% margin 59.1% margin SG&A EXPENSES $1.08B $697M $206M $42M 49.4% of sale
Slide 17: Coach Highlights: FY25 Q2
Coach Highlights: FY25 Q2 Delivered standout results, highlighting the enduring power and relevance of the brand and its distinctive Expressive Luxury positioning, with 10% constant currency revenue gains at exceptional margins, including double-digit revenue growth in North America Fueled broad-bas
Slide 18: Kate Spade Highlights: FY25 Q2
Kate Spade Highlights: FY25 Q2 Delivered profit results in-line with expectations, highlighted by continued margin gains, while revenue declined 10% Took decisive action under the leadership of new brand CEO, Eva Erdmann, laying the groundwork to rebuild the brand and reignite growth Sharpened strat
Slide 19: Stuart Weitzman Highlights: FY25 Q2
Stuart Weitzman Highlights: FY25 Q2 Remained focused on fueling brand relevancy, driving customer engagement and delivering improved financial results long-term Global net sales decreased in the quarter, primarily reflecting pressure in Greater China and in the North America Direct channels; global
Slide 20: Raised Fiscal 2025 Revenue and Earnings Outlook
Raised Fiscal 2025 Revenue and Earnings Outlook ———___GURRENTFY25 OUTLOOK = PRIORFY25 OUTLOOK REVENUE GROSS MARGIN SG&A EXPENSE OPERATING MARGIN NET INTEREST EXPENSE TAX RATE SHARE COUNT DILUTED ADJUSTED EPS FREE CASH FLOW CAPEX & CLOUD COMPUTING Over $6.85 billion, up approximately 3% versus prior
Slide 21: Building Blocks of Fiscal 2025 EPS Guidance Increase
Building Blocks of Fiscal 2025 EPS Guidance Increase $4.85 - $4.90 $4.50 - $4.55 PRIOR FY25E Q2 OPERATIONAL SHARE REPURCHASE NET BENEFIT FROM CURRENT FY25E EPS OUTLOOK OUTPERFORMANCE ACTIVITY LOWER TAX & FX HEADWIND EPS OUTLOOK This outlook assumes no revenue, net interest, or earnings impact relate
Slide 22: Capital allocation priorities focused on driving growth, profitability, and shareholder value
Capital allocation priorities focused on driving growth, profitability, and shareholder value CASH FLOW GENERATION & BALANCE SHEET FLEXIBILITY FOR VALUE CREATION UNDERPINNING THESE PRIORITIES IS A FIRM COMMITMENT TO A SOLID INVESTMENT GRADE RATING AND LONG-TERM GROSS LEVERAGE TARGET OF BELOW 2.5X FO
Slide 23: Committed to creating value for shareholders
Committed to creating value for shareholders =~ tapestry SHARE REPURCHASES = Executed a $2 billion Accelerated Share Repurchase ("ASR") program = Received initial delivery of 28.4 million shares of common stock on November 26, 2024 under the ASR program = Total of $800 million remaining under previo
Slide 24: tapestry
tapestry
Slide 25: tapestry
tapestry
Slide 26: Coach's brand purpose
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 CONSUM
Slide 27: Coach key facts
$5.1B NET SALES As of FY24. mm COACH 930 DIRECTLY OPERATED STORES -60 COUNTRIES 11,600 EMPLOYEES 27
Slide 28: Coach Revenue Breakdown
Coach Revenue Breakdown Women's: Accessories 21% Other Asia 15% Women's ies Geography Channel North America 60% Direct to Consumer 88% COACH
Slide 29: Coach FY25 Growth
e ‘Coach FY25 Growth we DEEPEN GROW FUEL GAINS LEAD WITH EXPAND CONNECTIONS LEATHER- ACROSS PURPOSE-LED |) RETAIL WITH GOODS LIFESTYLE STORYTELLING “EXPERIENCES CONSUMERS COACH
Slide 30: Kate Spade
a | kate spade NEW YORK tapestry
Slide 31: Kate Spade New York overview
SINCE ITS LAUNCH IN 1993 WITH A COLLECTION OF SIX ESSENTIAL HANDBAGS, KATE SPADE NEW YORK HAS ALWAYS BEEN COLORFUL, BOLD AND OPTIMISTIC. TODAY IT IS A GLOBAL LIFESTYLE BRAND THAT DESIGNS EXTRAORDINARY THINGS FOR THE EVERYDAY, DELIVERING SEASONAL COLLECTIONS OF HANDBAGS, READY- TO-WEAR, JEWELRY, FOOT
Slide 32: Kate Spade key facts
$13B+ 378 NET SALES DIRECTLY OPERATED STORES As of FY24, — & -40 COUNTRIES 4,200 EMPLOYEES 32
Slide 33: Kate Spade Revenue Breakdown
Kate Spade Revenue Breakdown Rest of Other, World Asia 6% 10% Greater China Category Geography Channel North Other America Lifestyle 81% 22% Direct to Consumer 86% As of FY24. a
Slide 34: Kate Spade Growth Strategies
, | Kat ade rowth Strategies FUEL BRAND HEAT & RELEVANCE DRIVE GEN Z CONSUMER ACQUISITION DEVELOP & GROW HANDBAG ICONS MAXIMIZE OMNICHANNEL COHESIVENESS 34
Slide 35: Stuart Weitzman
> STUART WEITZMAN tapestry
Slide 36: Stand Strong
STAND STRONG SINCE 1986, NEW YORK CITY-BASED GLOBAL LUXURY FOOTWEAR BRAND STUART WEITZMAN HAS COMBINED ITS SIGNATURE ARTISANAL CRAFTSMANSHIP AND PRECISE ENGINEERING TO EMPOWER WOMEN TO STAND STRONG. HAVING PERFECTED THE ART OF SHOEMAKING FOR OVER 35 YEARS, THE BRAND CONTINUES TO EXPAND ITS ASSORTMEN
Slide 37: Stuart Weitzman key facts
NET SALES DIRECTLY COUNTRIES EMPLOYEES OPERATED STORES As of FY24, — § .
Slide 38: Stuart Weitzman Revenue Breakdown
Stuart Weitzman Revenue Breakdown Category Footwear 100% As of FY24. — Ww Greater China 27% Geography North America 67% Direct to 38
Slide 39: Stuart Weitzman FY25 Growth Strategies
Stuart Weitzman FY25 Growth Strategies FUEL BRAND GROW ICONS & EXPAND CASUAL ACCELERATE RELEVANCY WITH KEY ITEMS & NEW WHOLESALE EMOTIONAL CATEGORIES STORYTELLING
Slide 40: Corporate Responsibility
‘Gorporate esponsibility tapestry
Slide 41: The Fabric of Change
The Fabric of Change AMBITION: MAKE EVERY BEAUTIFUL CHOICE A RESPONSIBLE CHOICE A. 4 Wal POWER SUSTAIN UPLIFT CREATE OF OUR PEOPLE THE PLANET OUR COMMUNITIES PRODUCTS WITH CARE SS Pe |“ 4 tapestry a
Slide 42: Power of Our People
Power of Our People 2025 Goals Build diversity in Tapestry and brand leadership teams in North America by increasing the number of racial & ethnic minority leaders to better reflect the company's general corporate population. Reduce differences in our Employee Inclusion Index scores based on gender
Slide 43: Sustain the Planet
Sustain the Planet 2025 & Beyond Goals Reduce absolute Scope 1 and 2 greenhouse gas (GHG) emissions 64%, Scope 3 emissions 42%, and Scope 3 FLAG emissions 30% by 2030 from a 2021 baseline. Reach net-zero GHG emissions across the value chain by 2050. Procure 100% renewable energy in Tapestry-operated
Slide 44: Uplift Our Communities
Uplift Our Communities 2025 & Beyond Goals 500,000 volunteer service hours completed by our employees around the world by 2030. $75 million in financial and product donations to nonprofit organizations globally by 2025. 100,000 people working in the factories crafting our products will have access t
Slide 45: Create Products with Care
Create Products with Care 2025 & Beyond Goals 95% traceability and mapping of our raw materials by 2025. 90% of leather used in our products comes from Silver- and Gold-rated LWG tanneries by 2025. 95% of polyamide (nylon) will be from pre- or post-consumer recycled sources by 2025. 90% of cotton wi
Slide 46: tapestry
tapestry
Slide 47: 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 48: Consolidated Segment Data and GAAP to Non-GAAP Reconciliation
Consolidated Segment Data and GAAP to Non-GAAP Reconciliation For the quarter ended December 28, 2024. in millions, except per share data; unaudited GAAP BASIS (AS REPORTED! ACQUISITION COSTS NON-GAAP BASIS (EXCLUDING ITEMS) Coach $1,318.3 $- $1,318.3 Kate Spade 273.6 : 273.6 Stuart Weitzman 41.2 :
Slide 49: Consolidated Segment Data and GAAP to Non-GAAP Reconciliation
Consolidated Segment Data and GAAP to Non-GAAP Reconciliation For the quarter ended December 30, 2023. in millions, except per share data; unaudited GAAP BASIS (AS REPORTED] ACQUISITION COSTS NON-GAAP BASIS (EXCLUDING ITEMS) Coach $1,147.5 $- $1,147.5 Kate Spade 294.4 - 294.4 Stuart Weitzman. 51.3 >
Slide 50: Adjusted Free Cash Flow GAAP to Non-GAAP Reconciliation
Adjusted Free Cash Flow GAAP to Non-GAAP Reconciliation in millions, unaudited December 28, 2024 December 30, 2023 Net cash provided by (used in) operating activities (GAAP) $506.0 $826.5 Purchases of property and equipment (30.9) (22.8) Items affecting comparability - Acquisition Costs 197.6 72.4 C
Slide 51: Tapestry
tapestry | COACH | kate spade | STUART WEITZMAN © 2025 Tapestry, Inc