Tapestry Tumbles 15% as Soft FY27 Guidance Overshadows Q4 Beat
TPR sits 42% above its 52-week low of $92.62 on elevated volume (1.9× avg).
Summary
Tapestry shares fell 15% to $130.05 on Thursday, making it the worst performer in the S&P 500, after the company issued fiscal 2027 guidance below Wall Street expectations. The company guided EPS of $7.80-$7.90 on revenue of $8.4B-$8.5B, versus consensus of $7.87 and $8.47B. This follows a strong Q4 report earlier in the day that beat on both top and bottom lines, but the weak outlook triggered profit-taking after the stock hit a record high of $164.78 on Monday. The company also announced a 16% dividend increase to 46.25 cents per share, which failed to stem the selling. The stock is now up only about 2% year-to-date, down from a 29% gain as of Monday's close.
At the time of this announcement, TPR was trading at $131.61 on NYSE in the Trade & Services sector, with a market capitalization of approximately $26.6B. The 52-week trading range was $92.62 to $164.80. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.