WASHINGTON (dpa-AFX) - While reporting financial results for the second quarter on Thursday, Tapestry, Inc. (TPR) raised its earnings and revenue guidance for the full year 2026.
'By harnessing our proven strategies and structural advantages, we are raising our outlook for the fiscal year, reinforcing our commitment to driving durable growth and long-term value creation,' said Joanne Crevoiserat, CEO.
For fiscal 2026, the company now projects earnings in a range of $6.40 to $6.45 per share on revenues of over $7.75 billion. Previously, the company expects earnings in a range of $5.45 to $5.60 per share on revenues of over $7.3 billion.
On average, analysts polled expect the company to report earnings of $5.68 per share on revenue of $7.40 billion for the year. Analysts' estimates typically exclude special items.
Given Tapestry's strong operational results, robust balance sheet, significant free cash flow generation, and outlook for growth, the Company now expects to return $1.5 billion, which is approximately 100 percent of its anticipated adjusted free cash flow, to shareholders through dividends and share repurchases in Fiscal 2026. This represents an increase from its previous outlook of $1.3 billion.
The Company's Board of Directors also declared a quarterly cash dividend of $0.40 per common share, payable on March 23, 2026 to shareholders of record as of the close of business on March 6, 2026.
In Thursday's pre-market trading, TPR is trading on the NYSE at $139.96, up $10.02 or 7.71 percent.
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