Tapestry revenues increased 14% year-on-year in the second quarter of 2026, ended December 27, to $2.5 billion. The uplift was driven by strong growth at Coach, which has excelled in recent quarters.
On a pro forma basis — excluding the impact of the Stuart Weitzman business — Tapestry’s group sales grew 18% in Q2. Gross profit increased 16%, while gross margin increased from 74.4% to 75.5%. The company has raised its outlook for the 2026 full year, expecting revenues of over $7.75 billion and 15% growth on a pro forma nominal basis (compared to prior guidance of a 7% to 8% increase to $7.3 billion).
“We’ve been known for operational discipline for quite a while, but what you see in the Q2 results and in the outlook for the year is a new gear of growth,” said CFO and COO Scott Roe on the earnings call. “When you add growth on top of this operational discipline, what you have is a really powerful machine.”
Coach outshone as sales reached $2.14 billion in the second quarter, up 25% year-on-year. “I’m very confident in our growth momentum in North America and all over the world,” said Coach CEO Todd Kahn. “I appreciate there was some concern about our ability to [deliver] double-digit growth in the quarter [on top of last year’s results], but not only did we [match a tough prior-year comparison], we did it the right and sustainable way — with lower promotions, exceptional margins, and a 40% increase in marketing.” The CEO added that he is particularly confident in the brand’s ability to continue recruiting Gen Z and Gen Alpha consumers.
Sales at Kate Spade declined 14% in Q2 to $360 million, partially due to a deliberate pullback in promotional activity. “We made incremental investments to advance the turnaround underway, remaining focused on strengthening the brand’s foundation for long-term growth,” Tapestry CEO Joanne Crevoiserat said on the call. The priority for Kate Spade is to fuel brand heat by engaging with Gen Z. The brand has also reduced handbag styles by 40% to focus on a more intentional and aligned assortment.
North America, its largest market, saw a sales uplift of 17% to $1.71 billion, led by North Star Coach. Greater China sales grew 34% to $343.1 million, driven by digital sales, while Japan declined 6% to $128.3 million. In “other Asia”, sales increased 12% to $125.8 million, driven by Australia and South Korea. Tapestry’s “other” region — which primarily represents royalties from licensing partners and sales in the Middle East — saw sales growth of 23% to $30.7 million.
The company sees opportunities to grow in Europe, particularly with Coach. In Q2, sales grew 22% to $159.1 million, driven by new customer acquisition. “Given our market positioning and low penetration, we see significant opportunities for further growth in this large and attractive market,” said Roe. “When we talk about Europe, realistically, we’re in England and a little bit elsewhere, so the opportunity to expand in France is going to be our next big push.”
Crevoiserat credited the group’s employees for exceeding expectations. “Our outperformance reflects the power of Tapestry, the result of deliberate strategies, and the disciplined execution over time driving our growth and positioning us for the future,” Crevoiserat concluded. “With strong fundamentals and momentum, we’re moving forward with confidence, and we’re focused on delivering sustainable growth and long-term shareholder value.”
