Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

5K characters. Original on sec.gov · Markdown

Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

Market and Dividend Information

Tapestry, Inc.’s common stock is listed on the New York Stock Exchange and is traded under the symbol “TPR.” The following table sets forth, for the fiscal periods indicated, the high, low and closing prices per share of the Company's common stock as reported on the New York Stock Exchange Composite Index.

HighLowClosingDividends Declared per Common Share
Fiscal 2018 Quarter ended:
September 30, 2017$48.85$39.11$0.3375
December 30, 201745.2838.700.3375
March 31, 201853.5744.230.3375
June 30, 201855.5043.5446.710.3375
Fiscal 2017 Quarter ended:
October 1, 2016$43.71$34.55$0.3375
December 31, 201638.8634.070.3375
April 1, 201741.7034.330.3375
July 1, 201747.7638.47$47.340.3375

As of August 3, 2018, there were 2,325 holders of record of Tapestry’s common stock.

Any future determination to pay cash dividends will be at the discretion of Tapestry’s Board and will be dependent upon Tapestry’s financial condition, operating results, capital requirements and such other factors as the Board deems relevant.

The information under the principal heading “Securities Authorized For Issuance Under Equity Compensation Plans” in the Company’s definitive Proxy Statement for the Annual Meeting of Stockholders to be held on November 8, 2018, to be filed with the Securities and Exchange Commission (The “Proxy Statement”), is incorporated herein by reference.

Performance Graph

The following graph compares the cumulative total stockholder return (assuming reinvestment of dividends) of the Company's common stock with the cumulative total return of the S&P 500 Stock Index and the “peer set" companies listed below over the five-fiscal-year period ending June 30, 2018, the last day of Tapestry’s most recent fiscal year. The graph assumes that $100 was invested on June 29, 2013 at the per share closing price in each of Tapestry’s common stock, the S&P 500 Stock Index and a peer set index tracking the peer group companies listed below, and that all dividends were reinvested. The stock performance shown in the graph is not intended to forecast or be indicative of future performance.

During fiscal 2018, the Company established a new peer group consisting of:

•L Brands, Inc.,
•PVH Corp.,
•Ralph Lauren Corporation,
•Tiffany & Co.,
•V.F. Corporation,
•Estee Lauder, Inc.,
•Michael Kors Holdings Limited

The Company's old peer group consisted of:

•L Brands, Inc.,
•PVH Corp.,
•Ralph Lauren Corporation,
•Tiffany & Co.,
•V.F. Corporation,
•Estee Lauder, Inc.,
•Kate Spade & Company,
•Abercrombie & Fitch Co., and
•Michael Kors Holdings Limited

The Company removed Kate Spade & Company from the peer set due to our acquisition. Furthermore, Tapestry management selected the "revised peer set" on an industry/line-of-business basis and believes this updated set of companies represent good faith comparables based on their history, size, and business models in relation to Tapestry, Inc.

performancegraph19.jpg

Fiscal 2013Fiscal 2014Fiscal 2015Fiscal 2016Fiscal 2017Fiscal 2018
TPR$100.00$62.10$67.47$79.15$95.17$96.80
Revised Peer Set$100.00$126.45$146.61$136.88$136.80$190.10
Former Set$100.00$127.88$146.25$137.03$136.15$189.61
S&P 500$100.00$124.65$136.33$139.50$164.11$187.70

Previous: Item 4. MINE SAFETY DISCLOSURES · Next: Item 6. SELECTED FINANCIAL DATA