Tapestry (TPR) Q2 FY2026 earnings: revenue $2.5 billion, up 14.0% on the year
Tapestry, Inc. (TPR) reported revenue of $2.5 billion for Q2 FY2026, the quarter ended 27 December 2025, up 14.0% on the same quarter a year earlier. Net income was $561 million, up 80.8% on the year, and diluted earnings per share $2.68. The figures are the company's own, from the 10-Q it filed with the SEC on 5 February 2026.
Revenue
$2.5 billion
+14.0% on the year · +46.8% on the quarter
Q3 FY2024Q2 FY2026
Operating margin
28.6%
22.4% a year earlier
Q3 FY2024Q2 FY2026
Net income
$561 million
+80.8% on the year · +104.3% on the quarter
Q3 FY2024Q2 FY2026
Diluted EPS
$2.68
+94.2% on the year · +109.4% on the quarter
Q3 FY2024Q2 FY2026
this quarterthe same quarter a year earlierHover a bar for its figure.
What management said
Guidance figures: 7 raised, 3 lowered, 3 kept.
Net sales rose 14% to $2.50 billion: Net sales were $2,502.4 million against $2,195.4 million a year earlier. Pro forma growth excluding Stuart Weitzman was 18%. Foreign currency added about 10 basis points.
Operating income rose 45% on GAAP basis: GAAP operating income was $716.4 million, up from $492.8 million, with a 28.6% margin against 22.4%. Non-GAAP operating income was $719.8 million, up 31%, at a 28.8% margin.
Coach revenue rose 25%: Coach revenue was $2,142.4 million against $1,709.3 million, up 25% both reported and in constant currency. Pro forma total growth was 18%.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.
Cash flow
$ million
Q2 FY2026
Q1 FY2026
Q2 FY2025
On the quarter
On the year
Last 8 quarters
Operating cash flow
1,081
113
506
+856.7%
+113.7%
Capital expenditure
43.6
32.0
30.9
+36.2%
+41.1%
Free cash flow
1,038
81.0
475
+1,180.9%
+118.4%
Free cash flow margin
41.5%
4.8%
21.6%
Cash from investing
-43.4
69.0
789
Cash from financing
-706
-551
-6,701
Depreciation and amortisation
41.0
37.0
40.9
+10.8%
+0.2%
Share-based compensation
29.6
22.0
21.8
+34.5%
+35.8%
Buybacks
404
698
1,613
-42.2%
-75.0%
Dividends paid
81.3
83.0
72.4
-2.0%
+12.3%
Dividend per share
$0.40
$0.40
$0.35
0.0%
+14.3%
Diluted shares, weighted
210m
216m
225m
-2.6%
-6.7%
Shares outstanding at period end
203m
206m
207m
-1.5%
-2.0%
Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.
Balance sheet
$ million
Q2 FY2026
Q1 FY2026
Q2 FY2025
On the quarter
On the year
Last 8 quarters
Shareholders' equity
551
400
1,336
+38.0%
-58.8%
Debt
2,396
2,635
2,681
-9.1%
-10.6%
Operating lease liabilities
1,233
1,255
1,142
-1.7%
+8.0%
Other liabilities
2,350
2,073
2,093
+13.4%
+12.3%
Total liabilities and equity
6,531
6,363
7,252
+2.6%
-9.9%
Goodwill
967
975
1,205
-0.9%
-19.8%
Intangible assets
718
719
1,350
-0.1%
-46.8%
Investments
24.4
23.7
20.9
+3.0%
+16.7%
Cash and equivalents
1,053
720
983
+46.4%
+7.1%
Receivables
338
290
297
+16.8%
+13.7%
Inventory
896
1,019
937
-12.0%
-4.4%
Other assets
2,534
2,618
2,458
-3.2%
+3.1%
Total assets
6,531
6,363
7,252
+2.6%
-9.9%
Questions
What was Tapestry's revenue in Q2 FY2026?
Tapestry (TPR) reported revenue of $2.5 billion for Q2 FY2026, the quarter ended 27 December 2025, up 14.0% on the same quarter a year earlier.
How much did Tapestry earn in Q2 FY2026?
Net income for Q2 FY2026 was $561 million, up 80.8% on the year, and diluted earnings per share $2.68.
When did Tapestry report Q2 FY2026 results?
Tapestry filed its 10-Q for the quarter ended 27 December 2025 with the SEC on 5 February 2026.
Each quarter as filed, linked to its filing. Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.
10-Q for the period ended 27 December 2025, filed 5 February 2026: the filing.