Tapestry第一季度营收增11%至18.9亿美元：Coach增长16%，集团上调全年展望
总部位于 New York 的奢侈品集团 Tapestry, Inc.（NYSE: TPR）11月5日公布2027财年第一季度（截至2026年9月26日）业绩：净销售额同比增长11%至18.94亿美元，按备考口径（剔除已出售的 Stuart Weitzman 业务）增长12%；公司同时上调全年展望。
盈利方面，毛利润14.88亿美元、毛利率78.6%，同比提升230个基点；营业利润4.24亿美元、同比增长29%，营业利润率22.4%。报告口径每股收益1.76美元、同比增长38%；调整后每股收益1.82美元、同比增长32%，高于公司自身预期。
分品牌看，Coach 是主要增长引擎：营收增长16%至16.61亿美元，国际市场增长30%，手袋业务带动明显；Kate Spade 营收则下降10%至2.33亿美元，公司称该品牌主动减少促销以维护品牌价值。分地区看，大中华区营收3.85亿美元、按报告汇率增长43%，北美营收11.10亿美元、增长4%，欧洲营收1.51亿美元、增长20%。本季度集团在全球新增消费者260万人，其中约35%为 Z 世代。
首席执行官 Joanne Crevoiserat 表示，第一季度是「强劲的开局」，营收、利润率与盈利增长均超预期，公司据此上调全年展望，反映对增长持续性的信心。
展望方面，Tapestry 把2027财年营收指引上调至约85亿至86亿美元（此前为84亿至85亿美元），营业利润率改善幅度指引由约50个基点上调至约100个基点，调整后每股收益指引由7.80至7.90美元上调至8.25至8.35美元。公司还把全年回购计划提高3.5亿美元至17亿美元，预计全年向股东返还约20亿美元；第一季度已返还约7亿美元，并宣布季度股息每股0.4625美元，12月21日派发。
（来源：Tapestry, Inc）
Tapestry First-Quarter Sales Rise 11% to $1.89 Billion as Coach Grows 16%; Full-Year Outlook Raised
Tapestry, Inc. (NYSE: TPR), the New York-based house of the Coach and Kate Spade New York brands, reported results on November 5 for the fiscal first quarter ended September 26, 2026: net sales rose 11% year over year to $1.894 billion, up 12% on a pro forma basis excluding the divested Stuart Weitzman business, and the company raised its full-year outlook.
Gross profit was $1.488 billion with a gross margin of 78.6%, up 230 basis points, while operating income rose 29% to $424 million for a 22.4% operating margin. Diluted earnings per share were $1.76 on a reported basis, up 38%, and $1.82 on an adjusted basis, up 32% and ahead of the company's own expectations.
By brand, Coach supplied most of the growth, with revenue up 16% to $1.661 billion, including 30% growth internationally and handbag-led gains. Kate Spade revenue fell 10% to $233 million as the brand deliberately reduced promotional activity. By region, Greater China revenue reached $385 million, up 43% on a reported basis, North America rose 4% to $1.11 billion, and Europe rose 20% to $151 million. The company added 2.6 million new customers in the quarter, about 35% of them Gen Z.
Chief Executive Officer Joanne Crevoiserat said the first quarter marked a powerful start to the year, with revenue, margin and earnings growth ahead of expectations and strength around the world, and that the raised outlook reflects confidence in the durability of the growth.
For fiscal 2027, Tapestry now expects revenue of approximately $8.5 billion to $8.6 billion, up from $8.4 billion to $8.5 billion previously, operating margin expansion of about 100 basis points, and adjusted diluted earnings per share of $8.25 to $8.35, up from $7.80 to $7.90. The company also raised its planned share repurchases by $350 million to $1.7 billion and expects to return about $2.0 billion to shareholders this fiscal year; roughly $700 million was returned in the first quarter, and a quarterly dividend of $0.4625 per share was declared, payable December 21.
(Source: Tapestry, Inc)
来源：Tapestry, Inc
发布：GSM·美国（发布链接）
图片来源：图：Tapestry 旗下品牌 Kate Spade New York 的门店（资料图）。照片：Paul Keleher，CC BY 2.0，经 Wikimedia Commons。 / Photo: A Kate Spade New York store, a Tapestry brand (file photo). Photo by Paul Keleher, CC BY 2.0, via Wikimedia Commons.
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