Q3 25 EPS
$1.03
BEAT +17.06%
Est. $0.88
Q3 25 Revenue
$1.58B
BEAT +3.71%
Est. $1.53B
vs S&P Since Q3 25
+67.8%
BEATING MARKET
TPR +97.6% vs S&P +29.8%
Market Reaction
Did TPR Beat Earnings? Q3 2025 Results
Tapestry delivered a record fiscal third quarter, posting revenue of $1.58 billion, up 6.9% year-over-year, and non-GAAP diluted EPS of $1.03, beating the $0.88 Wall Street consensus by 17.06% and clearing the $1.53 billion revenue estimate by 3.71%.… Read more Tapestry delivered a record fiscal third quarter, posting revenue of $1.58 billion, up 6.9% year-over-year, and non-GAAP diluted EPS of $1.03, beating the $0.88 Wall Street consensus by 17.06% and clearing the $1.53 billion revenue estimate by 3.71%. The standout driver was Coach, whose $1.29 billion in quarterly revenue surged 13% on a reported basis, powered by handbag innovation, a mid-teens average unit retail gain, and strong traction among Gen Z and millennial shoppers, who accounted for roughly two-thirds of the more than 1.2 million new North American customers acquired in the period. Gross margin expanded 140 basis points to 76.1%, while non-GAAP operating margin improved to 17.5% from 16.1% a year ago. On the strength of the beat, management raised its full-year fiscal 2025 outlook for the third time this year, lifting revenue guidance to approximately $6.95 billion and EPS to approximately $5.00, even as it absorbed the impact of 145% tariffs on Chinese imports, an effect it characterized as immaterial to fiscal 2025 results.
Key Takeaways
- • Coach brand revenue growth of 13% (15% constant currency) driven by strong handbag innovation and mid-teens AUR gains
- • 140 basis points of gross margin expansion reflecting operational improvements
- • Acquired over 1.2 million new customers in North America, with approximately two-thirds being Gen Z and Millennials
- • Direct-to-consumer revenue increased 9% on a constant currency basis with mid-teens digital revenue growth
- • Strong constant currency growth in Europe (+35%) and North America (+9%)
- • Agile and globally scaled supply chain enabling innovation, margin expansion, and diligent inventory management
TPR YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
TPR Revenue by Segment
With YoY comparisons, source: SEC Filings
TPR Revenue by Geography
With YoY comparisons, source: SEC Filings
“Our third quarter outperformance reinforces our position of strength. We accelerated top and bottom-line growth and raised our outlook for the fiscal year, demonstrating the power of brand building and our connections with consumers around the world. Importantly, while the external backdrop is complex, our vision remains clear. We maintain a bias for action and will harness our competitive advantages, including our global scale, compelling value, and strong fundamentals, to adapt and win in any environment. We are confident in our future and the meaningful opportunity to deliver durable growth and shareholder value.”
— Joanne Crevoiserat, Q3 2025 Earnings Press Release
TPR Earnings Trends
TPR vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
TPR EPS Trend
Earnings per share: estimate vs actual
TPR Revenue Trend
Quarterly revenue: estimate vs actual
TPR Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q3 26 BEAT | $1.30 | $1.66 | +27.77% | $1.92B | +7.59% |
| Q2 26 BEAT | $2.23 | $2.69 | +20.67% | $2.50B | +7.68% |
| Q1 26 BEAT | $1.26 | $1.38 | +9.45% | $1.70B | +4.09% |
| Q4 25 MISS FY | $1.24 | $1.04 | -16.25% | $1.72B | +5.91% |
| FY Full Year | $5.46 | $5.10 | -6.55% | $7.01B | +0.79% |
| Q3 25 BEAT | $0.88 | $1.03 | +17.06% | $1.58B | +3.71% |