filings.toolsItem 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.”
As of August 4, 2023, there were 1,899 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.
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 Standard & Poor's ("S&P") 500 Stock Index and the S&P 1500 Apparel, Accessories & Luxury Goods Index over the five-fiscal-year period ending July 1, 2023, the last day of Tapestry’s most recent fiscal year. The graph assumes that $100 was invested on June 30, 2018 at the per share closing price in each of Tapestry’s common stock, the S&P 500 Stock Index and the S&P 1500 Apparel, Accessories & Luxury Goods Index, 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 2023, the Company moved to using the S&P 1500 Apparel, Accessories & Luxury Goods Index from the S&P 500 Apparel, Accessories & Luxury Groups Index.
Tapestry management selected the S&P 1500 Apparel, Accessories & Luxury Goods Index on an industry/line-of-business basis and believes this updated index represents good faith comparables based on their history, size, and business models in relation to Tapestry, Inc.
| Fiscal 2018 | Fiscal 2019 | Fiscal 2020 | Fiscal 2021 | Fiscal 2022 | Fiscal 2023 | |||||||||||||||||||||||||||||||||
| TPR | $100.00 | $70.48 | $29.10 | $98.91 | $73.31 | $105.00 | ||||||||||||||||||||||||||||||||
| S&P 500 Apparel, Accessories & Luxury Goods | $100.00 | $88.35 | $48.75 | $93.49 | $54.47 | $48.10 | ||||||||||||||||||||||||||||||||
| S&P 1500 Apparel, Accessories & Luxury Goods | $100.00 | $86.78 | $49.34 | $98.73 | $60.46 | $56.95 | ||||||||||||||||||||||||||||||||
| S&P 500 | $100.00 | $110.42 | $115.19 | $169.29 | $150.97 | $178.66 |
Stock Repurchase Program
The Company's share repurchases during the fourth quarter of fiscal 2023 were as follows:
| Fiscal Period | Total Number of Shares Repurchased | Average Price per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs**(1)** | Approximate Dollar Value of Shares that May Yet be Purchased Under the Plans or Programs**(1)** | ||||||||||||||||||||||
| (in millions, except share data and per share data) | ||||||||||||||||||||||||||
| April 2, 2023 - May 6, 2023 | — | $ | — | — | $ | 1,000 | ||||||||||||||||||||
| May 7, 2023 - June 3, 2023 | 2,092,052 | 41.78 | 2,092,052 | 913.0 | ||||||||||||||||||||||
| June 4, 2023 - July 1, 2023 | 2,614,466 | 43.03 | 2,614,466 | 800.0 | ||||||||||||||||||||||
| Total | 4,706,518 | 4,706,518 |
(1) On May 12, 2022, the Company announced that its Board of Directors authorized a common stock repurchase program to repurchase up to $1.50 billion of its outstanding common stock (the "2022 Share Repurchase Program"). Purchases of the Company's common stock were executed through open market purchases, including through purchase agreements under Rule 10b5-1. The authorized value of shares available to be repurchased under this program excludes the cost of commissions and excise taxes.
Previous: Item 4. MINE SAFETY DISCLOSURES · Next: Item 6. RESERVED