All Tapestry articles – Page 2
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News briefs
Tapestry’s CFO takes on the extra role of COO
Tapestry, the New York-based fashion house which owns Coach, Kate Spade and Stuart Weitzman, announced that its chief operations officer (COO), Tom Glaser, 61, has decided to retire. He will remain with the company until Oct. 1. Scott Roe, who has been chief financial officer since June 2021, has taken ...
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ArticleStuart Weitzman is profitable again despite a weak Q4
Stuart Weitzman, the footwear brand of the U.S. fashion group Tapestry, posted higher sales and returned to an operating profit in the full year ended on July 2 despite a weak fourth quarter. Revenues for the full year increased by 12 percent to $317.7 million, or by 11 percent on ...
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ArticleFootwear stocks track global markets lower in Q2
In the second quarter of 2022, footwear stocks declined significantly in line with global markets, which suffered their strongest pullback in decades. In the U.S., the S&P 500 index posted its worst performance in the first half of the year since 1970. Global markets were hit by raising inflation, a ...
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ArticleStuart Weitzman sales continue to recover
Stuart Weitzman, the footwear brand of the U.S. fashion group Tapestry, posted in the third quarter ended April 2 sales of $63.9 million, up by 11 percent on a reported basis and 10 percent at constant currency rates. Digital sales represented 20 percent of quarterly revenues. The group pointed out ...
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ArticleBrazilian, Indian footwear stocks outperform in a weak environment
In the first quarter of 2022, the share prices of footwear companies fell sharply, tracking global equity markets lower. But, the Indian and Brazilian companies that we monitor for our stock performance survey outperformed their peers over the period.
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ArticleStuart Weitzman sales return to pre-Covid levels
Stuart Weitzman, the footwear brand of the U.S. fashion group Tapestry, returned to pre-Covid sales levels in the second quarter ended Jan.1, and posted an operating profit. In the quarter, Stuart Weitzman increased sales to $115.8 million from $84.5 million. At constant currency rates, sales were up by 37 percent ...
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ArticleStuart Weitzman improves profitability in Q1
Stuart Weitzman, the footwear brand of the U.S. fashion group Tapestry, enjoyed an improved operating margin in the first quarter ended Oct. 2, boosting its confidence of returning to profitability in the current fiscal year. In the quarter, Stuart Weitzman increased sales by 18 percent year-over-year to $66.5 million. At ...
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ArticleFormer Coach head to become Capri’s CEO
On Aug. 24, Capri Holdings, the luxury goods group that owns the brands Jimmy Choo, Versace and Michael Kors, appointed Joshua Schulman as CEO of Michael Kors. In September 2022, he is due to succeed John Idol as CEO of Capri, when Idol will become executive chairman. Idol is currently ...
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ArticleStuart Weitzman plans to be profitable this fiscal year
Tapestry, the American group which owns Stuart Weitzman, expects the footwear company to become profitable again in the fiscal year that just started after undergoing a significant restructuring. In the fiscal fourth quarter ended on July 31, Stuart Weitzman managed to significantly cut its operating losses thanks to higher revenues ...
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ArticleTapestry creates foundation, boosts ESG targets
Tapestry , the New York-based owner of Coach , Kate Spade and Stuart Weitzman , has formed the Tapestry Foundation to advance access and equity initiatives and to combat climate change. In addition, the American group is accelerating and amplifying its environmental, social and governance (ESG) targets and ...
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News briefs
Tapestry releases 2020 corporate responsibility report
Tapestry , the New York-based owner of Coach , Kate Spade and Stuart Weitzman , released its 2020 Corporate Responsibility Report, which highlights social and environmental progress made in the fiscal year ending June 27, 2020. It marks the eighth year of reporting for the group, but the ...
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ArticleStuart Weitzman significantly reduces its losses
In the fiscal third quarter ended on March 27, Stuart Weitzman managed to significantly cut its operating losses thanks to higher revenues and a reduction in expenses. The brand, which is owned by the American group Tapestry , posted net sales of $57 million for the quarter compared ...
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News briefs
Former VF CFO joins Tapestry
Tapestry , the New York-based owner of Coach , Kate Spade and Stuart Weitzman , has appointed Scott Roe as chief financial officer (CFO), effective June 1. Roe will have responsibility for all finance functions as well as leading the company’s strategy and consumer insights teams. He ...
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News briefsTodd Kahn confirmed as CEO of Coach
On April 15, Tapestry appointed Todd Kahn as chief executive officer and brand president of Coach , following a comprehensive search. Kahn is responsible for all aspects of the brand globally and reports to Joanne Crevoiserat , the CEO of Tapestry. Kahn joined the company in January ...
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News briefsTapestry joins Black in Fashion Council Active Allyship Pledge
The New York-based fashion group Tapestry announced its participation in the Black in Fashion Council Active Allyship Pledge . Members of the program commit to joining together to secure the advancement of Black individuals in the fashion and beauty industry. “We have committed to expanding diversity in our ...
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ArticleStuart Weitzman cuts expenses as sales fall
In the fiscal second quarter ended on Dec. 26, Stuart Weitzman managed to lift its operating profit despite a decline in revenues thanks to aggressive cost savings. The brand, which is owned by the American group Tapestry , posted net sales of $85 million, down by 27 percent ...
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ArticleStocks of footwear companies fell by 16.3% in 2020
Well functioning financial markets are providers of information and signals. We are analyzing last year’s performance of footwear companies, but also of luxury goods and e-commerce companies with a strong footwear component, to see how markets perceived some of the key players of our industry.
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ArticleStuart Weitzman’s Q4 sales plummet to $33 million
In the fiscal fourth quarter ended on June 27, Stuart Weitzman posted net sales of $33 million, down from $85 million in the same period of the prior year, largely due to the impact of the Covid-19 pandemic. The brand, which is owned by the American group Tapestry ...
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Article
Tapestry’s CEO resigns less than a year in the job
Jide Zeitlin , the chairman and chief executive of Tapestry , has resigned with immediate effect for personal reasons, less than one year after becoming CEO. Tapestry, a New York-based luxury goods house, owns the brands Coach , Kate Spade and Stuart Weitzman. In September 2019, Zeitlin replaced ...
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Article
Stuart Weitzman parent company reopens over 300 stores in North America
Tapestry and Columbia Sportswear , like many other retailers, are reopening stores in North America, after U.S. sales of clothing and footwear fell by over 89 percent year-on-year in April due to the lockdown imposed to combat the Covid-19 pandemic.
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