Tapestry (NYSE:TPR) shareholders elected all 11 director nominees and approved an advisory proposal concerning shareholder action by less than unanimous written consent, according to preliminary results announced at the company’s 2026 annual meeting.
Shareholders also ratified Deloitte & Touche LLP as the company’s independent auditor and approved executive compensation in a nonbinding advisory vote. Chief Legal Officer and Secretary David Howard said the preliminary results were subject to further checking but were unlikely to change.
Chief Executive Officer Joanne Crevoiserat told shareholders that Tapestry exceeded its expectations in fiscal 2026, reaching revenue, operating margin and earnings-per-share commitments established at its September 2025 investor day two years ahead of plan.
Fiscal 2026 results and outlook
Crevoiserat said fiscal 2026 revenue rose 17% on a pro forma constant-currency basis to $8 billion. Tapestry welcomed approximately 11 million new customers globally, led by Gen Z, she said.
Operating margin expanded by 340 basis points to more than 23%, while earnings per share increased 38% to $7.05. The company generated $1.9 billion in free cash flow and returned $1.7 billion to shareholders through dividends and share repurchases, Crevoiserat said. She reported a one-year total shareholder return of approximately 70%.
For the first quarter of fiscal 2027, Crevoiserat said revenue grew 12% on a pro forma basis to $1.9 billion, operating margin expanded by 230 basis points and earnings per share rose 32%. The company also welcomed 2.6 million new customers during the quarter.
Crevoiserat said the first-quarter performance enabled Tapestry to raise its outlook for the fiscal year. The company expects to return approximately $2 billion to shareholders through dividends and share repurchases in fiscal 2027.
She also outlined Tapestry’s Amplify strategy, introduced in September 2025, which focuses on consumer connections, fashion innovation and product excellence, customer experiences, and the company’s people.
Shareholders approve four proposals
Howard said each director nominee received at least a majority of votes cast and was elected to serve until the 2027 annual meeting. Shareholders also approved Deloitte’s appointment for the fiscal year ending July 3, 2027, and the advisory vote on executive compensation.
The shareholder proposal concerning action by less than unanimous written consent was submitted by The Accountability Board Inc. Tapestry’s board made no voting recommendation on the proposal. Matt Prescott, president and chief operating officer of The Accountability Board, said ISS and Glass, Lewis & Co. supported its adoption.
Howard said a more detailed voting report would be filed with the Securities and Exchange Commission on Form 8-K within four business days. The company received no shareholder questions on the proposals or during the subsequent general question period, according to Howard and Christina Colone, global head of investor relations.
About Tapestry (NYSE:TPR)
Tapestry, Inc. is a global fashion company whose portfolio includes Coach and Kate Spade New York. The company designs and sells handbags, accessories, footwear, apparel, jewelry and other lifestyle products through retail stores, e-commerce and wholesale partners. Based in New York, Tapestry serves customers in North America and international markets, including Asia and Europe. Its brands reach consumers through company-operated stores and digital channels as well as select department stores and other retail partners.
