While reporting financial results for the third quarter on Thursday, Tapestry, Inc. (TPR) raised its earnings and revenue guidance for the full year 2026, based on the third-quarter outperformance as well as an increased outlook for the fiscal fourth quarter.
For fiscal 2026, the company now projects earnings of about $6.95 per share on revenues of about $7.95 billion. Previously, the company expects earnings in a range of $6.40 to $6.45 per share on revenues of over $7.75 billion.
Tapestry now expects to buy back approximately $1.3 billion in common stock in Fiscal 2026 under the Company's existing stock repurchase authorization, an increase from its prior outlook of $1.2 billion.
The Company's Board of Directors also declared a quarterly cash dividend of $0.40 per common share, payable on June 22, 2026 to shareholders of record as of the close of business on June 5, 2026.
Given Tapestry's strong operational results, robust balance sheet, significant free cash flow generation, and outlook for growth, the Company now expects to return $1.6 billion to shareholders through dividends and share repurchases in Fiscal 2026.
In Thursday's pre-market trading, TPR is trading on the NYSE at $154.94, up $6.11 or 4.11 percent.
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.