Tapestry reports results for Q4 and full 2021 fiscal year

United States
Published:  19 August, 2021
Credit: Tapestry

The New York based luxury fashion group reported revenue in Q4-2021 of US$1.62 billion, a growth of 126% year-on-year, and announced the reinstatement of its dividend and share repurchase programs. 

For the full 2021 fiscal year, the company outperformed all of its internal expectations for every brand and metric, realising its “peak operating income and margin as Tapestry Inc.”. Tapestry saw US$1.6 billion in digital sales across the full fiscal period, an increase of $1 billion since the 2019 financial year.

Outlook for 2022

Although the company recognises an amount of uncertainty due to Covid-19, it has forecasted an optimistic outlook for the 2022 financial year, budgeting US$6.4 billion in revenue, which would mark a record level of sales.

Tapestry owns leading fashion brands Coach, Kate Spade and Stuart Weitzman.