Professional
Added to YB: 2024-03-05
Pitch date: 2024-03-04
TPR [bullish]
Tapestry, Inc.
+168.76%
current return
Author Info
No bio for this author
Company Info
Tapestry, Inc. provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally.
Market Cap
$10.2B
Pitch Price
$44.56
Price Target
60.00 (-50%)
Dividend
3.16%
EV/EBITDA
6.06
P/E
11.75
EV/Sales
1.80
Sector
Textiles, Apparel and Luxury Goods
Category
growth
The New Tapestry Will Continue to Be Led by Coach, but Capri Will Bolster Position in Global Luxury
TPR: Coach drives 74.5% FY23 rev, 70%+ gross margins. Aims China luxury growth to 38-40% by 2030. $8.5B Capri deal doubles sales to $12.4B, 15% op margin in FY25. Adds Kors, Versace, Choo brands. 10%+ historical ROIC, 18% next decade. $60 PT on store closures & cuts. Risks: high debt, margin dilution, Kors overexposure.
Read full article (14 min)