Tapestry — Feb 5, 2026 release

On a year-to-date basis, CapEx and implementation costs related to Cloud Computing were $92 million versus $69 million a year ago. Financial Outlook Tapestry is raising its Fiscal 2026 outlook, which is provided on a non-GAAP basis: • Revenue of over $7.75 billion, representing approximately 11% growth versus prior year on a reported basis; excluding Stuart Weitzman, pro forma revenue is expected to grow approximately 15% on a nominal basis and increase 14% in constant currency. Foreign currency is expected to be a 70-basis point tailwind to topline results in the fiscal year. This is ahead of prior guidance for revenue to be in the area of $7.3 billion and increase 7% to 8% on a pro forma, nominal basis; • Operating margin expansion of approximately 180 basis points versus prior year, compared to previous guidance for an increase in the area of 50 basis points versus prior year. Based on the strength of the underlying business, the Company expects to more than offset a negative tariff and duty headwind of nearly 200 basis points, resulting in both gross margin expansion and SG&A leverage anticipated for Fiscal 2026; 7 • Net interest expense of approximately $65 million, unchanged from prior guidance; • Tax rate of approximately 17% compared to prior guidance of approximately 18%; • Weighted average diluted share count of approximately 211 million shares v