Tapestry sees FY26 operating margin above prior year

Sees FY26: Operating margin above prior year, which reflects more than 250 basis points of underlying margin expansion, offset by a negative tariff and duty impact of approximately 230 basis points. The projected negative tariff and duty headwind of approximately 230 basis points or $160 million incorporated in this outlook reflects the timing of policy implementation, product sell-through, and mitigating actions underway. The company expects to offset the impact of these incremental tariffs and duties over time; Net interest expense of approximately $65 million; Tax rate of approximately 18%.