Tapestry Ends Merger, Focuses on Growth and Buybacks

Tapestry ( (TPR) ) just unveiled an announcement.

Tapestry, Inc. announced the termination of its merger agreement with Capri Holdings Limited, focusing instead on accelerating organic growth and enhancing shareholder value. With a robust financial position, Tapestry plans to implement a $2 billion share repurchase program, partly through an accelerated share repurchase plan, while redeeming acquisition-related debt. The company emphasizes its commitment to a solid investment-grade rating and returning capital to shareholders through dividends and share buybacks.

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