Tapestry (TPR) 10-K risk factor changes: FY2026 vs FY2025

We face risks associated with potential changes to international trade [added: and policy] agreements and the imposition of additional tariffs on importing our products.

The imposition of taxes, duties and quotas, the withdrawal from or material modification to trade agreements, and/or the detention of our goods by CBP [removed: for any reason,] [added: or other customs authorities,] could have a material adverse effect on our business, results of operations and financial condition.

During fiscal [removed: 2025,] [added: 2026,] the primary manufacturers of Coach products were located in Vietnam, Cambodia, the Philippines and India, and the primary manufacturers of Kate Spade products were located in Vietnam, Cambodia, [removed: mainland China, and] the [removed: Philippines.][added: Philippines, and Bangladesh.]

In addition, any negative perception of or [removed: sentiments] [added: sentiment] towards the U.S., whether in response to changes in tariffs, trade policy or otherwise, could impact the perception of our Company.

Our ability to navigate any uncertainty, changes or expansion in tariffs or other trade restrictions could have a material negative impact on our business, financial [removed: conditions] [added: condition] and results of operations.

Our results can be impacted by a number of macroeconomic factors, including but not limited to: consumer confidence and spending levels, tax rates, levels of unemployment, consumer credit availability, [added: tariffs and trade restrictions,] pandemics, natural disasters, raw material costs, fuel and energy costs, bank failures, market volatility, global factory production, supply chain operations, commercial real estate market conditions, credit market conditions and the level of customer traffic in malls, shopping centers and online.

We operate on a global basis, with approximately [removed: 40.0%] [added: 41.3%] of our net sales coming from operations outside of [added: the] United States for fiscal year [removed: 2025.][added: 2026.]

- changes to [removed: the U.S.'s] [added: U.S.] participation in, withdrawal [removed: out of,] [added: from, or] renegotiation of certain international trade agreements or other major [removed: trade related] [added: trade-related] issues, including the non-renewal of expiring favorable tariffs granted to developing countries, tariff quotas and retaliatory tariffs, trade sanctions, new or onerous trade restrictions, embargoes and other stringent government controls;

- disruptions or delays in shipments whether due to port congestion, logistics carrier disruption (including as a result of labor disputes), [removed: militant attacks on commercial shipping vessels in the Red Sea,] other shipping capacity constraints or other factors, which [removed: has] [added: have resulted] and may continue to result in significantly increased inbound freight costs and increased in-transit times;

Each of our brands [removed: are] [added: is] unique and independent, while sharing a commitment to innovation and authenticity defined by unique brand purposes, distinctive products, and differentiated customer experiences across business channels and geographies.

Furthermore, our brands’ communications, product lines and experiences are subject to rapidly changing fashion trends and consumer preferences, [removed: including the increasing shift to digital brand engagement and social media communication.]

The failure to develop and launch successful new products or to rationalize our assortment [removed: appropriately] [added: appropriately, including through our efforts to harmonize select products between our retail and outlet channels,] could hinder the growth of our business.

[removed: Even if] [added: If] our products, marketing campaigns, consumer experiences and environments do [added: not] meet changing customer preferences and/or [added: fail to] stay ahead of changing fashion trends, our brand image could become tarnished or undesirable in the minds of our customers or target markets, which could materially adversely [added: impact the growth of our brands and the Tapestry multi-brand portfolio, and our overall business, financial condition, and results of operations.]

The growth of our business depends on the successful execution of our global omni-channel expansion efforts and our ability to execute our digital and e-commerce [removed: priorities.][added: priorities and our multi-channel strategies.]

Our success and growth depend on the continued development of our omni-channel presence for each of our brands globally, [removed: leaning into] [added: pursuing] global digital opportunities for each brand, along with select bricks and mortar [removed: expansion.][added: expansion, renovation, and modernization efforts.]

See [removed: “*Our] [added: “Our] business is subject to the risks inherent in global sourcing [removed: activities”*] [added: activities”] for additional risks related to our fulfillment networks.

If we are unable to effectively execute our [added: multi-channel strategy, along with our] e-commerce and digital [removed: strategies] [added: strategies,] and provide reliable [added: and unified] experiences for our customers across all business [removed: channels,] [added: channels and touchpoints,] our reputation and ability to compete with other brands could suffer, which could adversely impact our business, results of operations and financial condition.

Furthermore, consumer demand and behavior, as well as tastes and purchasing trends, may differ across countries, and as a result, sales of our [removed: product] [added: products] may not be successful, or the margins on those sales may not be in line with those we currently anticipate.

Further, expanding in certain markets may have upfront investment costs that may not be accompanied by sufficient revenues to achieve typical or expected operational and financial performance and therefore may be dilutive to our brands in the [removed: short-term.][added: short term.]

Consequently, if our global omni-channel expansion [removed: plans] [added: plans, or our product and pricing architecture strategies,] are unsuccessful, or we are unable to retain and/or attract key personnel, our business, financial condition and results of operations could be materially adversely affected.

- identifying and adapting to changes in technology, including the successful utilization of data analytics, artificial [removed: intelligence,] [added: intelligence (“AI”),] and machine [removed: learning;] [added: learning,] and [added: competing with AI-enabled shopping tools to help find products, compare prices, and make purchase decisions;]

Our business and future success [removed: depends] [added: depend] heavily on attracting, developing and retaining qualified employees, including our senior management team.

The loss of one or more of our key personnel or the direct or indirect consequences [removed: of results] thereof, [removed: or] [added: including] any negative public perception with respect to these individuals or [removed: the loss of these individuals,] [added: their departure,] could have a material adverse effect on our business, results of operations and financial condition.

We do not maintain key-person or similar life insurance policies on any of [added: our] senior management team or other key personnel.

Additionally, changes to our office environments, the adoption of new work [removed: models,] [added: models] and [added: AI, and] our requirements and/or expectations about when or how often certain employees work on-site or remotely may not meet the expectations of our employees.

These [added: transactions] involve various inherent risks and as a result, the expected benefits, cost savings and synergies may not be realized.

- failure of the business to perform as [removed: planned] [added: planned,] following the acquisition or achieve anticipated revenue, cash flow or profitability targets;

[removed: Additional unanticipated costs, which could be material,] may also be incurred in the integration of our business and the acquired business.

We continuously evaluate how to best structure our business in an effort to maximize shareholder value, which could include the divestiture of certain of our lines of [removed: business, such as our recently completed sale of the Stuart Weitzman Business.][added: business.]

Our business may be materially impacted if our fulfillment centers face significant interruptions [removed: and] [added: in] operations.

Globally we utilize fulfillment centers in mainland China, the Netherlands, the U.K. and [removed: Spain,] [added: Singapore,] owned and operated by third parties, allowing us to better manage the logistics in these regions while reducing costs.

[added: We also utilize local fulfillment] centers, through third parties, in Japan, parts of Greater China, South Korea, [removed: Singapore, Malaysia, Canada, Australia,] [added: Malaysia] and [removed: Mexico.][added: Australia.]

If we misjudge the market for our products or demand for our products [removed: are] [added: is] impacted by other factors, such as inflationary pressures, political instability or other macroeconomic events, we may be faced with significant excess inventories for some products and missed opportunities for other products.

We have in the past been, and may in the future be, forced to rely on [removed: donation,] [added: donations,] markdowns, promotional sales or other [removed: write-offs,] [added: write-offs] to dispose of excess, slow-moving inventory, which may negatively impact our gross margin, overall profitability and efficacy of our brands.

As part of our long-term strategy, we look for opportunities to [removed: cost effectively] [added: cost-effectively] enhance [removed: capability] [added: the capabilities] of [added: our] business services.

While we believe we conduct appropriate due diligence before entering into agreements with these third parties, the failure of any of these third parties to provide the expected services, provide them on a timely basis or [removed: to] provide them at the prices we expect could disrupt or harm our business.

Any significant interruption in the operations of these service providers, [removed: including as a result of] [added: whether due to] changes in social, [removed: political,] [added: political] and economic conditions, [removed: including those resulting from] military conflicts or other [removed: hostilities,] [added: hostilities] that could [removed: result in the disruption of] [added: disrupt] trade from the countries in which our manufacturers or suppliers are located, [added: or other factors] over which we have no control, could also have an adverse effect on our business.

Our wholesale business comprised approximately [removed: 13%] [added: 12%] of total net sales for fiscal [removed: 2025.][added: 2026.]

[added: In] addition, fluctuations in net sales, operating income and operating cash flows of the Company in any fiscal quarter may be affected by the timing of wholesale shipments and other events affecting retail sales, including adverse weather conditions or other macroeconomic events.

In the future, we may enter [removed: into] additional licensing arrangements.

Further, we have developed strategies to mitigate the impact of additional tariffs; however, these strategies may not be effective, which could adversely affect our business, financial condition and results of operations.

On February 20, 2026, the U.S. Supreme Court ruled that tariffs collected under the International Emergency Economic Powers Act ("IEEPA") were invalid.

The U.S. Court of International Trade subsequently ordered refunds for qualifying customs entries.

CBP has established a phased administrative process for submitting refund claims for certain IEEPA tariffs.

The Company paid approximately $117 million in IEEPA tariffs.

During the fourth quarter of fiscal 2026, we received cash refunds related to the previously paid IEEPA tariffs of $2.1 million.

In addition, as of June 27, 2026, we determined that the receipt of the remaining refunds of the previously paid IEEPA tariffs was probable.

We estimate the amount of the probable refund to be $114.7 million, which was recorded as a receivable.

Although the Company believes collection of the IEEPA tariffs is probable based on currently available information, the timing of cash receipts is dependent upon the execution of the refund process by the CBP and the U.S. Treasury Department.

Following the Supreme Court's decision, the U.S. Administration announced a 10% global tariff under Section 122 of the Trade Act of 1974 which became effective February 24, 2026, for a period of up to 150 days, which expired on July 24, 2026.

On May 7, 2026, the CIT ruled the Section 122 tariffs were invalid.

The government has appealed the ruling and the Company is awaiting a decision from the U.S. Court of Appeals.

On July 23, 2026, the U.S. Administration announced the final remedy in

the Section 301 investigations relating to forced labor practices, imposing new tariff rates ranging from 10% to 12.5% on most imports from certain countries, effective upon the expiration of the temporary Section 122 tariffs.

The U.S. Supreme Court’s ruling did not impact any of the recently imposed tariffs, under either Section 122, Section 301, or Section 338 of the various trade statutes, nor does it prohibit the imposition of future tariffs through alternative trade authorities available to the U.S. administration.

Accordingly, uncertainty with respect to tariffs remains ongoing, and U.S. import tariffs and international trade arrangements will continue to change, potentially without warning and to an extent or duration that is difficult to predict.

Changing tariff rates and shifting trade policies have created significant uncertainty for suppliers, consumers, and us, and our efforts to mitigate the impacts of tariffs are time-consuming and costly and may not be effective.

- the conflict in the Middle East;

including the increasing shift to digital brand engagement and social media communication.

Our bricks and mortar strategies may require upfront investment, may temporarily disrupt store operations and may not generate the expected increases in traffic, sales, productivity or profitability.

We are also engaging in initiatives to harmonize the customer experience between our retail and outlet channels, by bringing select full price products into the outlet channel and enabling a single-cart checkout process for retail and outlet on our Coach brand e-commerce site.

We have also made strategic updates to our global product and pricing architecture, which may change consumer shopping behavior and shift demand across channels and geographies.

The successful implementation of the Company’s 2028 growth strategy, Amplify, is key to the long-term success of our business.

The Company introduced its 2028 growth strategy, Amplify, in the first quarter of fiscal 2026, which focuses on four key pillars: (i) Building Emotional Connections with Consumers; (ii) Fueling Fashion Innovation & Product Excellence; (iii) Delivering Compelling Experiences to Drive Global Growth; and (iv) Igniting the Power of Our People.

There is no assurance that we will be able to sustain such efforts in accordance with our plans, that such efforts will result in the intended or otherwise desirable outcomes or that such efforts, even if successfully sustained, will be effective in achieving long-term growth or increased profitability.

Refer to Part II, Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations" for further information regarding Amplify.

If our incorporation of the initiatives under Amplify falls short, our business, financial condition and results of operations could be materially adversely affected.

Furthermore, customers are increasingly using AI shopping assistant tools to discover products, compare options, and make purchase decisions.

Use of these AI tools could transform commerce, including in ways that we fail to anticipate, and affect our ability to efficiently attract potential customers to our digital platforms and retain our customer base.

Further, any failure to maintain a workforce with the skills and capabilities necessary to support our business and respond to technological change could adversely impact our business, results of operations and financial condition.

Additional unanticipated costs, which could be material,

The Company is in the process of transitioning operations from its Ohio fulfillment center to a third-party facility in Pennsylvania.

This transition involves risks including potential disruptions to order processing and deliveries, increased costs, and reliance on a new third-party operator during and after the transition period.

The Company also has a third-party facility in Canada.

bankruptcy risks, and maintain customer relationships.

As frontier and open-weight AI models advance, they are commoditizing IT vulnerability discovery and exploit development, dramatically increasing the volume of software and IT system risks, including in our critical third-party systems.

We expect these risks to increase significantly over the next year, with the potential for a subset of these risks to materialize into attacks that may negatively affect our business.

The development, use, or misuse of AI technologies, and the failure to effectively adopt such technologies, may not be successful and could negatively impact our business.

We are increasingly integrating AI technologies, including generative AI and machine learning, across various aspects of our business, which presents evolving risks that may be difficult to predict or mitigate.

AI technologies may produce inaccurate, biased, or unreliable outputs, cause or contribute to the violation of intellectual property rights, and may be prone to cybersecurity incidents or service interruptions.

There has been significant reform in U.S. trade policy following the change in U.S. presidential administration in January 2025.

Further, such tariffs or other trade restrictions could require us to absorb costs or try to pass costs onto consumers, which could materially impact our revenue and profitability.

impact the growth of our brands and the Tapestry multi-brand portfolio, and our overall business, financial condition, and results of operations.

As businesses increasingly operate remotely, traditional geographic competition for talent may change in ways that we cannot presently predict.

We also utilize local fulfillment

In

types, including phishing and other attempts to breach or gain unauthorized access to our systems.

(the "Existing Revolving Credit Facility") with a new revolving credit facility (the "Amended Revolving Credit Facility"), dated as of May 22, 2025.

assurance that our stakeholders will agree with our strategy or that we will be successful in achieving our goals.

Based on the countries in which we do business, these changes did not have a material impact in fiscal 2025.

Other countries are also implementing similar legislation with effective dates starting in fiscal 2026, known as Qualifying Domestic Minimum Top-Up Tax ("QDMTT").

Most notably, the agreement includes a full exclusion for U.S. MNEs from the Undertaxed Profits Rule and Income Inclusion Rule, which are two of the three taxing mechanisms under GloBE.

Given that the third mechanism, QDMTT is still in force, it is unclear what impact if any this agreement will have on the Company.

Unless U.S. MNEs are likewise excluded from QDMTT, the Company believes QDMTT would have a negative impact on its effective tax rate in fiscal 2026 and beyond.

On July 4, 2025, the One Big Beautiful Bill Act ("OBBBA") was enacted.

Key income tax-related provisions of the OBBBA include the repeal of mandatory capitalization of research and development expenditures (reinstating full expensing beginning January 2025), permanent extension of 100% bonus depreciation, and revisions to international tax regimes that more closely align with the original application of Tax Cut Jobs Act of 2017.

The Company is evaluating the financial implications of the OBBBA and will begin reflecting its effects in the first quarter of fiscal 2026.

The Company believes this legislation will not have a material impact on its financial statements but will continue to evaluate as guidance becomes available.

On November 24, 2024, the Company announced that it entered into Accelerated Share Repurchase (“ASR”) agreements to repurchase $2.00 billion shares of Tapestry common stock.

In addition to the ASR program, the Company has $800.0 million remaining under its previous share repurchase authorization.

decisions with respect to our securities do so at their own risk.

On November 24, 2024, the Company announced that it entered into ASR agreements to repurchase $2.00 billion shares of Tapestry common stock.

not have jurisdiction, the United States District court for the District of Maryland, Baltimore Division).

References to "Coach," [removed: "Stuart Weitzman,"] "Kate Spade" or "kate spade new york" refer only to the referenced brand.

- *Global Economic Conditions and Industry Trends.* This section includes a discussion on global economic conditions and industry trends that affect comparability that are important in understanding results of operations and financial [removed: conditions,] [added: condition,] and in anticipating future trends.

- *Results of Operations.* An analysis of our results of operations in fiscal [removed: 2025] [added: 2026] compared to fiscal [removed: 2024.][added: 2025.]

Fiscal [removed: 2025,] [added: 2026,] fiscal [removed: 2024] [added: 2025] and fiscal [removed: 2023] [added: 2024] were 52-week periods.

[removed: Our] [added: Tapestry, Inc. is a] global house of [added: iconic accessories and lifestyle] brands [removed: unites] [added: uniting] the magic of Coach and kate spade new york.

The Company has [removed: three] [added: two] reportable segments:

On February 16, 2025, the Company entered into a [removed: Purchase Agreement] [added: sale and purchase agreement (the “Purchase Agreement”)] with [removed: Caleres] [added: Caleres, Inc. (the “Purchaser”)] to sell the Stuart Weitzman Business (as defined below).

The Purchaser acquired certain assets and liabilities of the Company's global business of designing, manufacturing, promotion, marketing, production, distribution, sales and licensing of Stuart Weitzman branded products (the "Stuart Weitzman Business") for [removed: total cash consideration] [added: a final aggregate purchase price] of [removed: $105.0 million (the "Purchase Price"), subject to] [added: $109.1 million, which included] customary adjustments for [removed: cash, indebtedness,] net working capital and [removed: transaction expenses.][added: indebtedness.]

Refer to Note 5, "Acquisitions and [removed: Divestitures," and Note 21, "Subsequent Events,"] [added: Divestitures"] for further information.

In order to finance the Capri Acquisition, on November 27, 2023, the Company issued $4.50 billion of U.S. dollar-denominated senior unsecured notes [removed: (the "Capri Acquisition USD Senior Notes")] and €1.50 billion of Euro-denominated senior unsecured notes (the "Capri Acquisition [removed: EUR] Senior [removed: Notes" and, together with the Capri Acquisition USD Senior Notes, the "Capri Acquisition Senior] Notes") which, together with the $1.40 billion of delayed draw unsecured term loan facilities (the "Capri Acquisition Term Loan Facilities") executed on August 30, 2023, [removed: complete] [added: completed] the expected financing for the Capri Acquisition.

On November 13, 2024, the Parties entered into a Termination Agreement (the “Termination Agreement”), pursuant to which the Parties agreed to terminate the Merger Agreement, including all schedules and exhibits thereto and all ancillary agreements contemplated thereby or entered pursuant [removed: thereto (the “Termination Date”),] [added: thereto,] effective immediately.

Refer to Note 5, "Acquisitions and Divestitures" [removed: and Note 12, "Debt"] for further information.

[removed: 2025] [added: 2028] Growth Strategy

- Fueling Fashion Innovation & Product Excellence: The Company aims to [removed: drive sustained growth in core] [added: lead with] handbags and [removed: small leathergoods, while accelerating gains in footwear and] [added: leathergoods with targeted] lifestyle [removed: products.][added: expansion in footwear.]

We [removed: will] continue to monitor [removed: the below trends] [added: these global economic conditions] and [added: industry trends in order to] evaluate and adjust our operating strategies and cost management opportunities to mitigate the related impact on our results of operations, while remaining focused on the long-term growth of our business and protecting the value of our brands.

Current [removed: Macroeconomic Conditions] [added: Trends] and Outlook

[removed: The] [added: During fiscal 2026, the] macroeconomic environment remained challenging and [removed: volatile during fiscal 2025.][added: volatile.]

[removed: The forecast is below the historical growth average and is reflective of] [added: Recent forecasts reflect] the current volatile environment, including [removed: escalation] [added: the continuation] of trade tensions, [removed: tighter monetary and fiscal policies which have continued to moderate inflation,] financial market [removed: volatility] [added: volatility, inflationary pressure] and the negative economic impacts of geopolitical instability in certain regions of the world.

In fiscal [removed: 2025,] [added: 2026,] the U.S. Dollar [removed: has] continued to fluctuate as compared to foreign currencies in regions where we conduct our business.

During fiscal [removed: 2025,] [added: 2026,] this trend has resulted in impacts to our business including, but not limited to, [removed: decreased] [added: increased] Net sales of [removed: $13.4] [added: $58.7] million, [removed: no] [added: and a negative] impact [added: of approximately 10 basis points] to [added: both] gross margin and [removed: approximately 20 basis point negative impact to] operating margin.

[removed: Fiscal] [added: Fiscal] 2025 [removed: Impairment][added: Items]

[removed: As a result,] [added: Accordingly, during] the [added: fourth quarter of fiscal year 2025, the] Company recorded $244.1 million of impairment charges [added: related] to goodwill for the Kate Spade reporting unit and $610.7 million of impairment charges [added: related] to [added: the Kate Spade] indefinite-lived brand [removed: intangible assets during the fourth quarter of fiscal 2025.][added: intangible.]

On December 12, 2022, the E.U. member states [removed: also] reached an agreement to implement the Organization for Economic Co-operation and Development’s (“OECD”) reform of international taxation known as [added: Pillar Two] Global Anti-Base Erosion Rules (“GloBE”), which broadly mirrors the Inflation Reduction Act by imposing a 15% global minimum tax on multinational [removed: companies, which was effective on January 1, 2025.][added: companies.]

On [removed: June 26, 2025, the U.S. Treasury reached an agreement with] [added: January 5, 2026,] the [removed: other G7 countries] [added: OECD published additional guidance] regarding the application of GloBE rules to U.S. parented multinational enterprises ("U.S. MNEs").

The following table summarizes results of operations for fiscal [removed: 2025] [added: 2026] compared to fiscal [removed: 2024.][added: 2025.]

| | | | June [removed: 28, 2025] [added: 27, 2026] | | | | | | | | | | | | June [removed: 29, 2024] [added: 28, 2025] | | | | | | | | | | | | Variance | | | | | | | | |

| Net sales | | | $ | [removed: 7,010.7] [added: 8,004.2] | | | | | 100.0 | | % | | | | $ | [removed: 6,671.2] [added: 7,010.7] | | | | | 100.0 | | % | | | | $ | [removed: 339.5] [added: 993.5] | | | | | [removed: 5.1] [added: 14.2] | | % |

| Operating income (loss) | | | [removed: 415.0] [added: 1,914.4] | | | | | | [removed: 5.9] [added: 23.9] | | | | | | [removed: 1,140.1] [added: 415.0] | | | | | | [removed: 17.1] [added: 5.9] | | | | | | [removed: (725.1)] [added: 1,499.4] | | | | | | [removed: (63.6)] [added: NM] | | |

| Loss on extinguishment of debt | | | [removed: 120.1] [added: —] | | | | | | [removed: 1.7] [added: —] | | | | | | [removed: —] [added: 120.1] | | | | | | [removed: —] [added: 1.7] | | | | | | [removed: 120.1] [added: (120.1)] | | | | | | NM | | |

| Other expense (income) | | | [removed: (6.6)] [added: (1.4)] | | | | | | [removed: (0.1)] [added: —] | | | | | | [removed: 3.2] [added: (6.6)] | | | | | | [removed: —] [added: (0.1)] | | | | | | [removed: (9.8)] [added: 5.2] | | | | | | [removed: NM] [added: 79.1] | | |

| Income (loss) before provision for income taxes | | | [removed: 216.1] [added: 1,860.6] | | | | | | [removed: 3.1] [added: 23.2] | | | | | | [removed: 1,011.9] [added: 216.1] | | | | | | [removed: 15.2] [added: 3.1] | | | | | | [removed: (795.8)] [added: 1,644.5] | | | | | | [removed: (78.7)] [added: NM] | | |

| Provision [added: (benefit)] for income taxes | | | [removed: 32.9] [added: 332.9] | | | | | | [removed: 0.5] [added: 4.2] | | | | | | [removed: 195.9] [added: 32.9] | | | | | | [removed: 2.9] [added: 0.5] | | | | | | [removed: (163.0)] [added: 300.0] | | | | | | [removed: (83.2)] [added: NM] | | |

| Net income (loss) | | | [removed: 183.2] [added: 1,527.7] | | | | | | [removed: 2.6] [added: 19.1] | | | | | | [removed: 816.0] [added: 183.2] | | | | | | [removed: 12.2] [added: 2.6] | | | | | | [removed: (632.8)] [added: 1,344.5] | | | | | | [removed: (77.6)] [added: NM] | | |

The reported results during fiscal [removed: 2025] [added: 2026] and fiscal [removed: 2024] [added: 2025] reflect certain items which affect the comparability of our results, as noted in the following tables.

Fiscal [removed: 2025] [added: 2026] Items

| | | | [removed: Fiscal] [added: Fiscal] Year Ended June 28, [removed: 2025] [added: 2025] | | | | | | | | | | | | | | | | | | | | | | | | | | |

| | | | Items [removed: affecting comparability] [added: Affecting Comparability] | | | | | | | | | | | | | | | | | | | | | | | | | | | [added: | | | | | | | | | | | |]

| | | | [removed: GAAP] [added: GAAP] Basis (As [removed: Reported)] [added: Reported)] | | | | | | [removed: Acquisition] [added: Acquisition] and Divestiture [removed: Costs] [added: Costs] | | | | | | [removed: Organizational] [added: Organizational] Efficiency [removed: Costs] [added: Costs] | | | | | | [removed: Impairment] [added: Impairment] | | | | | | [removed: Non-GAAP] [added: Non-GAAP] Basis (Excluding [removed: Items)] [added: Items)] | | |

| | | | (millions, except per share data) | | | | | | | | | | | | | | | | | | | | | | | | | | | [added: | | | | | | | | | | | |]

| Coach | | | [removed: $] [added: $] | [removed: 1,875.3] [added: 1,875.3] | | | | | [removed: $] [added: $] | [removed: —] [added: —] | | | | | [removed: $] [added: $] | [removed: (0.8)] [added: (0.8)] | | | | | [removed: $] [added: $] | [removed: —] [added: —] | | | | | [removed: $] [added: $] | [removed: 1,876.1] [added: 1,876.1] | |

Together, we stretch what’s possible – advancing brands further than they could go alone, expanding their reach to new geographies and generations.

Inspired by our consumers, we create experiences and products that build lasting brand love and elevate everyday life.

In the first quarter of fiscal 2026, the Company introduced its 2028 growth strategy (“Amplify”), which focuses on four key pillars:

- Build Emotional Connections with Consumers: The Company aims to drive new customer acquisition, with a focus on Gen Z consumers entering the market to build brand love and lifetime value.

- Delivering Compelling Experiences to Drive Global Growth: The Company aims to sustain growth in North America and accelerate momentum in international markets, prioritizing Greater China and Europe.

- Ignite the Power of Our People: The Company aims to future-proof growth by continuing to develop a consumer-obsessed culture that is agile and always looking forward.

Effective in the first quarter of fiscal 2026, following the Stuart Weitzman Business Divestiture, the Company's reportable segments are Coach and Kate Spade.

While certain organizations that monitor the global economy continue to forecast growth, these projections remain subject to uncertainty and have fluctuated in recent periods.

Import Tariffs

Additionally, during the first quarter of fiscal 2026, the President of the United States issued an executive order removing the de minimis exemption for low value shipments imported into the U.S. for all countries beginning August 29, 2025.

As a result of these changes in the tariff landscape, during fiscal 2026 the Company's gross margin was negatively impacted by approximately 130 basis points on an adjusted basis.

On February 20, 2026, the U.S. Supreme Court ruled that tariffs collected under the International Emergency Economic Powers Act ("IEEPA") were invalid.

The U.S. Court of International Trade ("CIT") subsequently ordered refunds for qualifying customs entries, including applicable interest.

U.S. Customs and Border Protection ("CBP") established a phased administrative process for submitting refund claims for certain IEEPA tariffs.

The Company paid approximately $117 million in IEEPA tariffs.

During the fourth quarter of fiscal 2026, the Company received cash refunds related to the previously paid IEEPA tariffs of $2.1 million, of which $2.0 million was recognized as a reduction to Cost of sales and $0.1 million as a reduction to Selling, general and administrative expenses.

In addition, as of June 27, 2026, the Company applied the loss recovery model and determined that the receipt of the remaining refunds of the previously paid but not received IEEPA tariffs was probable.

The

Company estimates the amount of the probable refund to be $114.7 million, of which $96.2 million was recognized as a reduction to Cost of sales, $9.5 million was recorded as Accrued liabilities and $9.0 million was applied as a reduction to tariffs that remained in Inventory.

Following the Supreme Court's decision, the U.S. Administration announced a 10% global tariff under Section 122 of the Trade Act of 1974 which became effective February 24, 2026, for a period of up to 150 days, which expired on July 24, 2026.

On May 7, 2026, the CIT ruled the Section 122 tariffs were invalid.

The government has appealed the ruling and the Company is awaiting a decision from the U.S. Court of Appeals.

On July 23, 2026, the U.S. Administration announced the final remedy in the Section 301 investigations relating to forced labor practices, imposing new tariff rates ranging from 10% to 12.5% on most imports from certain countries, effective upon the expiration of the temporary Section 122 tariffs.

The outlook for future trade policy remains uncertain.

The Company continues to monitor these developments, assess their potential impact on its business and implement mitigation strategies where possible.

Conflict in the Middle East

The conflict in the Middle East, which began during the third quarter of fiscal 2026, has contributed to heightened geopolitical uncertainty, including impacts to global supply chains and energy prices.

The Company does not have directly operated stores in the Middle East and has a minimal distributor business which represented less than 1% of the Company’s total Net sales for fiscal 2026 and fiscal 2025.

While the Company has not experienced a material impact to its operations or financial results, the Company continues to closely monitor the situation and the potential impact it may have on consumer sentiment in the Middle East and other geographies across the globe.

Foreign Exchange Impact

These rules subject multinational companies to three possible tax mechanisms individually known as the Income Inclusion Rule (“IIR”), the Undertaxed Profits Rule (“UTPR”) and the Qualified Domestic Minimum Top-up Tax (“QDMTT”).

The rules became effective on January 1, 2025.

Based on the countries in which we do business, these rule changes started to negatively impact the Company's effective tax rate beginning in fiscal 2026.

Most notably, the agreement excludes U.S. MNEs from the UTPR and IIR; however, QDMTT is still in force based on current legislation.

Based on the jurisdictions in which we operate and our current assessment of the applicable rules, we do not expect these developments to result in a material increase to the Company's effective tax rate in fiscal 2027 compared to fiscal 2026.

"Risk Factors."

FISCAL 2026 COMPARED TO FISCAL 2025

| Gross profit | | | 6,229.0 | | | | | | 77.8 | | | | | | 5,288.9 | | | | | | 75.4 | | | | | | 940.1 | | | | | | 17.8 | | |

| SG&A expenses | | | 4,314.6 | | | | | | 53.9 | | | | | | 4,873.9 | | | | | | 69.5 | | | | | | (559.3) | | | | | | (11.5) | | |

| Interest expense, net | | | 55.2 | | | | | | 0.7 | | | | | | 85.4 | | | | | | 1.2 | | | | | | (30.2) | | | | | | (35.4) | | |

Tapestry, Inc. is a house of iconic accessories and lifestyle brands.

Each of our brands are unique and independent, while sharing a commitment to innovation and authenticity defined by distinctive products and differentiated customer experiences across channels and geographies.

We use our collective strengths to move our customers and empower our communities, to make the fashion industry more sustainable, and to harness the power of an inclusive culture.

Individually, our brands are iconic.

Together, we can stretch what’s possible.

- *Stuart Weitzman -* Includes global sales of Stuart Weitzman brand products primarily through our DTC, wholesale and licensing businesses.

Each of our brands are unique and independent, while sharing a commitment to innovation and authenticity defined by distinctive products and differentiated customer experiences across business channels and geographies.

Our success does not depend solely on the performance of a single business channel, geographic area or brand.

On October 28, 2024, the Company and Capri filed a Notice of Appeal with respect to the October 24, 2024 Opinion and Order.

On November 6, 2024, the United States Court of Appeals for the Second Circuit entered an order setting an expedited briefing schedule for the appeal of the decision of the United States District Court of the Southern District of New York granting the preliminary injunction of the merger.

The Parties also agreed to release each other from claims, demands, damages, actions, causes of action and liability relating to or arising out of the Merger Agreement and the transactions contemplated therein or thereby.

Following termination of the Merger Agreement, the Parties and the FTC filed a stipulation withdrawing the appeal to the United States Court of Appeals for the Second Circuit on November 19, 2024 and the Second Circuit dismissed the appeal on November 20, 2024.

The Parties and the FTC also filed a Joint Motion to dismiss the complaint in the administrative trial on November 15, 2024 and the FTC dismissed the complaint on December 4, 2024.

In the first quarter of fiscal 2023, the Company introduced the 2025 growth strategy, *future*speed, designed to amplify and extend the competitive advantages of its brands, with a focus on four strategic priorities:

- Building Lasting Customer Relationships: The Company's brands aim to leverage Tapestry’s transformed business model to drive customer lifetime value through a combination of increased customer acquisition, retention and reactivation.

- Delivering Compelling Omni-Channel Experiences: The Company aims to extend its omni-channel leadership to meet the customer wherever they shop, delivering growth online and in stores.

- Powering Global Growth: The Company aims to support balanced growth across regions, prioritizing North America and China, its largest markets, while capitalizing on opportunities in under-penetrated geographies such as Southeast Asia and Europe.

The Company's next investor day will be held in September 2025, during which the Company will present its latest long-term growth strategy.

"Risk Factors".

Currency volatility, geopolitical instability and political uncertainty, such as the impact of policies implemented and that may be implemented by the U.S. Presidential Administration, including, but not limited to, changes to trade agreements, tax legislation or duty rates may also contribute to a worsening of the macroeconomic environment or adversely impact our business.

As a result of the Company's actions to accelerate inventory purchases and based on current trends of the business, we did not experience a meaningful negative impact to our results of operations in fiscal 2025.

At the time of this report, the Company estimates a projected tariff and trade policy impact of approximately 230 basis points to operating margin in fiscal 2026 after consideration of mitigating actions.

In addition, there could be further impact to our results of operations in fiscal 2026 and beyond depending on the outcome of trade negotiations.

The Company is prepared to take actions to mitigate this negative impact as changes in trade relations, economic and monetary policies are made clear.

Several organizations that monitor the world’s economy, including the International Monetary Fund, continue to forecast growth in the global economy.

Some of these organizations have recently revised the forecast slightly upwards since the third quarter of fiscal 2025.

In response to the current environment, the Company is closely monitoring changes and continues to take strategic actions considering near-term exigencies and remains committed to maintaining the health of the brands and business.

During the fourth quarter of fiscal 2025, the Company performed its annual goodwill and indefinite-lived intangible assets impairment analysis.

The assessment concluded that the fair values of the Kate Spade reporting unit and indefinite-lived brand intangible asset did not exceed their respective carrying values due to a reduction in both current and future expected cash flows, which includes an estimated impact of cost increases due to changes in tariff and trade policies.

Refer to "Critical Accounting Policies and Estimates," herein, for further information.

Based on the countries in which we do business, these changes did not have a material impact in fiscal 2025.

Other countries are also implementing similar legislation with effective dates starting in fiscal 2026, known as Qualifying Domestic Minimum Top-Up Tax ("QDMTT").

Most notably, the agreement includes a full exclusion for U.S. MNEs from the Undertaxed Profits Rule and Income Inclusion Rule, which are two of the three taxing mechanisms under GloBE.

Given that the third mechanism, QDMTT is still in force, it is unclear what impact if any this agreement will have on the Company.

Unless U.S. MNEs are likewise excluded from QDMTT, the Company believes QDMTT would have a negative impact on its effective tax rate in fiscal 2026 and beyond.

On July 4, 2025, the One Big Beautiful Bill Act ("OBBBA") was enacted.

Key income tax-related provisions of the OBBBA include the repeal of mandatory capitalization of research and development expenditures (reinstating full expensing beginning January 2025), permanent extension of 100% bonus depreciation, and revisions to international tax regimes that more closely align with the original application of Tax Cut Jobs Act of 2017.

The Company is evaluating the financial implications of the OBBBA and will begin reflecting its effects in the first quarter of fiscal 2026.

The Company believes this legislation will not have a material impact on its financial statements but will continue to evaluate as guidance becomes available.

| Gross profit | | | 5,288.9 | | | | | | 75.4 | | | | | | 4,889.5 | | | | | | 73.3 | | | | | | 399.4 | | | | | | 8.2 | | |

To mitigate such risk, certain subsidiaries enter into forward [added: foreign] currency [added: exchange] contracts.

As of June [removed: 28, 2025] [added: 27, 2026] and June [removed: 29, 2024,] [added: 28, 2025,] the total notional values of outstanding forward [added: foreign] currency [added: exchange] contracts designated as cash flow hedges were [removed: $735.0] [added: $868.8] million and [removed: $764.6] [added: $735.0] million, respectively.

As a result of the above considerations, we do not believe that we are exposed to any undue concentration of counterparty credit risk associated with our derivative contracts as of June [removed: 28, 2025.][added: 27, 2026.]

This primarily includes exposure to exchange rate fluctuations in the [removed: Chinese Renminbi,] [added: British Pound,] the Singapore Dollar and the [removed: New Taiwan Dollar.][added: Chinese Renminbi.]

To manage the exchange rate risk related to these balances, the Company enters into [added: cross-currency swaps and] forward [added: foreign] currency [added: exchange] contracts.

As of June [removed: 28, 2025] [added: 27, 2026] and June [removed: 29, 2024,] [added: 28, 2025,] the total notional values of outstanding [added: cross-currency swaps and] forward foreign currency [added: exchange] contracts related to these loans, payables and receivables were [removed: $157.0] [added: $222.1] million and [removed: $348.2] [added: $157.0] million, respectively.

The fair value of outstanding [added: cross-currency swaps and] forward [added: foreign] currency [added: exchange] contracts included in current assets [added: and long-term assets] at June [removed: 28, 2025] [added: 27, 2026] and June [removed: 29, 2024] [added: 28, 2025] was [removed: $6.8] [added: $31.2] million and [removed: $58.3] [added: $6.8] million, respectively.

The fair value of outstanding [added: cross-currency swaps and forward] foreign currency [added: exchange] contracts included in current liabilities [added: and long-term liabilities] at June [removed: 28, 2025] [added: 27, 2026] and June [removed: 29, 2024] [added: 28, 2025] was [removed: $8.0] [added: $11.3] million and [removed: $4.8] [added: $8.0] million, respectively.

As of June [removed: 28, 2025] [added: 27, 2026] and June [removed: 29, 2024,] [added: 28, 2025,] we have multiple [removed: fixed to fixed cross currency] [added: fixed-to-fixed cross-currency] swap foreign exchange and forward foreign exchange agreements with aggregate notional amounts of [removed: $1.69] [added: $1.82] billion and [removed: $1.45] [added: $1.69] billion, respectively, [removed: predominately] [added: predominantly] to hedge our net investment in Euro-denominated subsidiaries, Japanese Yen-denominated subsidiaries and Chinese Renminbi-denominated subsidiaries against future volatility in the exchange rates between the United States dollar and their local currencies.

The fair values of outstanding derivative contracts related to net investment hedges included in current assets and long-term assets at June [removed: 28, 2025] [added: 27, 2026] and June [removed: 29, 2024 was $15.6] [added: 28, 2025 were $71.1] million and [removed: $32.2] [added: $15.6] million, respectively.

The fair values of outstanding derivative contracts related to net investment hedges included in current [added: liabilities] and long-term liabilities at June [removed: 28, 2025] [added: 27, 2026] and June [removed: 29, 2024 was $263.0] [added: 28, 2025 were $221.1] million and [removed: $139.4] [added: $263.0] million, respectively.

Under the term of the cross currency swap contracts, we will exchange the semi-annual fixed rate payments on United States denominated debt for fixed rate payments of 5.5% to [removed: 6.4%] [added: 7.9%] in Euros, Japanese Yen and Chinese Renminbi for fixed rate payments of 5.5% to 7.9% in [removed: USD.][added: US Dollars and British Pounds.]

As of June [removed: 28, 2025,] [added: 27, 2026,] a 10% appreciation or depreciation of the U.S. Dollar against the foreign currencies under contract would result in a net increase or decrease, respectively, in the fair value of our derivative portfolio of approximately [removed: $294] [added: $162] million.

[removed: This hypothetical net change in fair] value should ultimately be largely offset by the net change in the related underlying hedged items.

A hypothetical 10% change in the Amended Revolving Credit Facility interest rates would have resulted in an immaterial change in interest expense in fiscal [removed: 2025.][added: 2026.]

The following table shows the estimated fair values of the senior unsecured notes at June [removed: 28, 2025] [added: 27, 2026] and June [removed: 29, 2024] [added: 28, 2025] based on external pricing data, including available quoted market prices of the instruments, and consideration of comparable debt instruments with similar interest rates and trading frequency, among other factors, and are classified as Level 2 measurements within the fair value hierarchy:

| | | | June [removed: 28, 2025] [added: 27, 2026] | | | | | | June [removed: 29, 2024] [added: 28, 2025] | | |

| 4.125% Senior Notes due 2027 | | | [removed: 393.0] [added: $] | [added: 394.9] | | | | | [removed: 378.2] [added: $] | [added: 393.0] | |

| 5.100% Senior Notes due 2030 | | | [removed: 756.8] [added: 757.4] | | | | | | [removed: —] [added: 756.8] | | |

| 3.050% Senior Notes due 2032 | | | [removed: 443.2] [added: 454.2] | | | | | | [removed: 402.9] [added: 443.2] | | |

| 5.500% Senior Notes due 2035 | | | [removed: 748.2] [added: 757.7] | | | | | | [removed: —] [added: 748.2] | | |

This hypothetical net change in fair

The Company is exposed to changes in interest rates related to the fair value of the senior unsecured notes and enters into interest rate contracts to reduce exposure to changes in the fair value of certain fixed‑rate debt resulting from fluctuations in benchmark interest rates.

As of June 27, 2026, we have interest rate contracts with an aggregate notional amount of $375.0 million, to hedge the changes to the fair value of our fixed-rate debt.

Refer to Note 10, "Derivative Investments and Hedging Activities," for additional information.

The Company is exposed to changes in interest rates related to the fair value of the senior unsecured notes.

| USD Senior Notes: | | | | | | | | | | | |

| 4.250% Senior Notes due 2025 | | | $ | — | | | | | $ | 300.2 | |

| 7.050% Senior Notes due 2025 | | | — | | | | | | 508.1 | | |

| 7.000% Senior Notes due 2026 | | | — | | | | | | 770.7 | | |

| 7.350% Senior Notes due 2028 | | | — | | | | | | 1,036.5 | | |

| 7.700% Senior Notes due 2030 | | | — | | | | | | 1,042.9 | | |

| 7.850% Senior Notes due 2033 | | | — | | | | | | 1,311.3 | | |

| EUR Senior Notes: | | | | | | | | | | | |

| 5.350% EUR Senior Notes due 2025(1) | | | — | | | | | | 543.8 | | |

| 5.375% EUR Senior Notes due 2027(1) | | | — | | | | | | 550.8 | | |

| 5.875% EUR Senior Notes due 2031(1) | | | — | | | | | | 556.4 | | |

(1)The fair values of the Capri Acquisition EUR Senior Notes include the impact of changes in the exchange rate of the United States Dollar against the Euro.

Tapestry, Inc. (the "Company") is a [added: global] house of iconic accessories and lifestyle [removed: brands.][added: brands uniting the magic of Coach and kate spade new york.]

The Company has [removed: three] [added: two] reportable segments:

This segment represented [removed: 79.9%] [added: 86.4%] of total net sales in fiscal [removed: 2025.][added: 2026.]

- *Kate Spade* \- Since its launch in 1993 with a collection of six essential handbags, kate spade new york has always been [added: feminine,] colorful, [removed: bold] and optimistic.

This segment represented [removed: 17.1%] [added: 13.4%] of total net sales in fiscal [removed: 2025.][added: 2026.]

[removed: The sale was completed on] [added: On] August 4, [removed: 2025 (the "Stuart] [added: 2025, the Company completed the sale of the Stuart] Weitzman [removed: Business Divestiture").][added: business and, as a result, determined it had two reportable segments on a prospective basis.]

Refer to Note 5, "Acquisitions and Divestitures," [removed: and Note 21, "Subsequent Events,"] for further information.

- Fueling Fashion Innovation & Product Excellence: The Company aims to [removed: drive sustained growth in core] [added: lead with] handbags and [removed: small leathergoods, while accelerating gains in footwear and] [added: leathergoods with targeted] lifestyle [removed: products.][added: expansion in footwear.]

DTC revenues were approximately [removed: 86%] [added: 87%] of total net sales in fiscal [removed: 2025.][added: 2026.]

| Store Count | | | | | | [removed: 2025] [added: 2026] | | | | | | [removed: 2024] [added: 2025] | | | | | | [removed: 2023] [added: 2024] | | | | | | | | | | | | | | | | | | | | | | | | | | |

| North America | | | | | | [removed: 324] [added: 336] | | | | | | 324 | | | | | | [removed: 330] [added: 324] | | | | | | | | | | | | | | | | | | | | | | | | | | |

| International | | | | | | [removed: 607] [added: 637] | | | | | | [removed: 606] [added: 607] | | | | | | [removed: 609] [added: 606] | | | | | | | | | | | | | | | | | | | | | | | | | | |

| Total Coach | | | | | | [removed: 931] [added: 973] | | | | | | [removed: 930] [added: 931] | | | | | | [removed: 939] [added: 930] | | | | | | | | | | | | | | | | | | | | | | | | | | |

| North America | | | | | | [removed: 189] [added: 178] | | | | | | [removed: 197] [added: 189] | | | | | | [removed: 205] [added: 197] | | | | | | | | | | | | | | | | | | | | | | | | | | |

| International | | | | | | [removed: 171] [added: 148] | | | | | | [removed: 181] [added: 171] | | | | | | [removed: 192] [added: 181] | | | | | | | | | | | | | | | | | | | | | | | | | | |

| Total Kate Spade | | | | | | [removed: 360] [added: 326] | | | | | | [removed: 378] [added: 360] | | | | | | [removed: 397] [added: 378] | | | | | | | | | | | | | | | | | | | | | | | | | | |

| North America | | | | | | [removed: 28] [added: 4,855] | | | | | | [removed: 34] [added: 4,907] | | | | | | [removed: 36] [added: 4,905] | | | | | | | | | | | | | | | | | | | | | | | | | | |

| Avg. Square Footage | | | | | | [removed: 2025] [added: 2026] | | | | | | [removed: 2024] [added: 2025] | | | | | | [removed: 2023] [added: 2024] | | | | | | | | | | | | | | | | | | | | | | | | | | |

| International | | | | | | [removed: 2,388] [added: 2,391] | | | | | | [removed: 2,342] [added: 2,388] | | | | | | [removed: 2,294] [added: 2,342] | | | | | | | | | | | | | | | | | | | | | | | | | | |

| Total Coach | | | | | | [removed: 3,265] [added: 3,242] | | | | | | [removed: 3,235] [added: 3,265] | | | | | | [removed: 3,211] [added: 3,235] | | | | | | | | | | | | | | | | | | | | | | | | | | |

| North America | | | | | | [removed: 3,023] [added: 3,071] | | | | | | [removed: 2,949] [added: 3,023] | | | | | | [removed: 2,876] [added: 2,949] | | | | | | | | | | | | | | | | | | | | | | | | | | |

| International | | | | | | [removed: 1,502] [added: 1,593] | | | | | | [removed: 1,439] [added: 1,502] | | | | | | [removed: 1,446] [added: 1,439] | | | | | | | | | | | | | | | | | | | | | | | | | | |

| Total Kate Spade | | | | | | [removed: 2,301] [added: 2,400] | | | | | | [removed: 2,226] [added: 2,301] | | | | | | [removed: 2,185] [added: 2,226] | | | | | | | | | | | | | | | | | | | | | | | | | | |

We [removed: have] [added: operate] e-commerce sites [removed: in] [added: across] our major markets [removed: in] [added: including] the U.S., Canada, Japan, Greater China, several [added: countries] throughout Europe, Australia, [removed: and several] [added: as well as in other regions] throughout [removed: the rest of] Asia.

Wholesale represented approximately [removed: 13%] [added: 12%] of our total net sales for fiscal [removed: 2025.][added: 2026.]

As of June [removed: 28, 2025,] [added: 27, 2026,] there were no customers who individually accounted for more than 10% of each segment’s total net sales.

Our key licensing relationships and their fiscal year expirations as of June [removed: 28, 2025] [added: 27, 2026] are as follows:

| Coach | | | | | | Eyewear | | | | | | Luxottica | | | | | | [removed: 2026] [added: 2026(1)] | | |

| | | | June [removed: 28, 2025] [added: 27, 2026] | | | | | | | | | | | | June [removed: 29, 2024] [added: 28, 2025] | | | | | | | | | | | | [removed: July 1, 2023] [added: June 29, 2024] | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

| Handbags | | | $ | [removed: 3,223.3] [added: 4,016.3] | | | | | [removed: 57.6] [added: 58.1] | | % | | | | $ | [removed: 2,889.9] [added: 3,223.3] | | | | | [removed: 56.7] [added: 57.6] | | % | | | | $ | [removed: 2,847.1] [added: 2,889.9] | | | | | [removed: 57.4] [added: 56.7] | | % | | | | | | | | | | | | | | | | | | | | | | | | |

| Accessories | | | [removed: 1,539.5] [added: 1,991.8] | | | | | | [removed: 27.5] [added: 28.8] | | | | | | [removed: 1,407.9] [added: 1,539.5] | | | | | | [removed: 27.6] [added: 27.5] | | | | | | [removed: 1,325.7] [added: 1,407.9] | | | | | | [removed: 26.7] [added: 27.6] | | | | | | | | | | | | | | | | | | | | | | | | | | |

| Footwear | | | [removed: 342.5] [added: 408.5] | | | | | | [removed: 6.1] [added: 5.9] | | | | | | [removed: 326.0] [added: 342.5] | | | | | | [removed: 6.4] [added: 6.1] | | | | | | [removed: 311.5] [added: 326.0] | | | | | | [removed: 6.3] [added: 6.4] | | | | | | | | | | | | | | | | | | | | | | | | | | |

| Other | | | [removed: 493.2] [added: 498.1] | | | | | | [removed: 8.8] [added: 7.2] | | | | | | [removed: 471.5] [added: 493.2] | | | | | | [removed: 9.3] [added: 8.8] | | | | | | [removed: 476.1] [added: 471.5] | | | | | | [removed: 9.6] [added: 9.3] | | | | | | | | | | | | | | | | | | | | | | | | | | |

| Total Coach | | | $ | [removed: 5,598.5] [added: 6,914.7] | | | | | 100.0 | | % | | | | $ | [removed: 5,095.3] [added: 5,598.5] | | | | | 100.0 | | % | | | | $ | [removed: 4,960.4] [added: 5,095.3] | | | | | 100.0 | | % | | | | | | | | | | | | | | | | | | | | | | | | |

| Handbags | | | $ | [removed: 623.0] [added: 594.9] | | | | | [removed: 52.1] [added: 55.3] | | % | | | | $ | [removed: 721.0] [added: 623.0] | | | | | [removed: 54.0] [added: 52.1] | | % | | | | $ | [removed: 779.7] [added: 721.0] | | | | | [removed: 54.9] [added: 54.0] | | % | | | | | | | | | | | | | | | | | | | | | | | | |

| Accessories | | | [removed: 269.8] [added: 241.1] | | | | | | [removed: 22.5] [added: 22.4] | | | | | | [removed: 307.0] [added: 269.8] | | | | | | [removed: 23.0] [added: 22.5] | | | | | | [removed: 324.8] [added: 307.0] | | | | | | [removed: 22.9] [added: 23.0] | | | | | | | | | | | | | | | | | | | | | | | | | | |

| Footwear | | | [removed: 55.2] [added: 48.1] | | | | | | [removed: 4.6] [added: 4.5] | | | | | | [removed: 57.4] [added: 55.2] | | | | | | [removed: 4.3] [added: 4.6] | | | | | | [removed: 57.8] [added: 57.4] | | | | | | [removed: 4.1] [added: 4.3] | | | | | | | | | | | | | | | | | | | | | | | | | | |

| Other | | | [removed: 249.1] [added: 190.8] | | | | | | [removed: 20.8] [added: 17.8] | | | | | | [removed: 249.0] [added: 249.1] | | | | | | [removed: 18.7] [added: 20.8] | | | | | | [removed: 256.6] [added: 249.0] | | | | | | [removed: 18.1] [added: 18.7] | | | | | | | | | | | | | | | | | | | | | | | | | | |

| Total Kate Spade | | | $ | [removed: 1,197.1] [added: 1,074.9] | | | | | 100.0 | | % | | | | $ | [removed: 1,334.4] [added: 1,197.1] | | | | | 100.0 | | % | | | | $ | [removed: 1,418.9] [added: 1,334.4] | | | | | 100.0 | | % | | | | | | | | | | | | | | | | | | | | | | | | |

| Stuart Weitzman(1) | | | $ | [removed: 215.1] [added: 14.6] | | | | | 100.0 | | % | | | | $ | [removed: 241.5] [added: 215.1] | | | | | 100.0 | | % | | | | $ | [removed: 281.6] [added: 241.5] | | | | | 100.0 | | % | | | | | | | | | | | | | | | | | | | | | | | | |

Together, we stretch what’s possible – advancing brands further than they could go alone, expanding their reach to new geographies and generations.

Inspired by our consumers, we create experiences and products that build lasting brand love and elevate everyday life.

Known for its rich heritage and unique brand DNA, kate spade new york's mission is to be the world's most welcoming and uplifting fashion brand.

Where a touch of wit and intentional color can inspire you to find joy in the everyday.

For the year ended June 27, 2026, Stuart Weitzman net sales were $14.6 million, representing 0.2% of total net sales in fiscal 2026.

In the first quarter of fiscal 2026, the Company introduced its 2028 growth strategy (“Amplify”), which focuses on four key pillars:

- Build Emotional Connections with Consumers: The Company aims to drive new customer acquisition, with a focus on Gen Z consumers entering the market to build brand love and lifetime value.

- Delivering Compelling Experiences to Drive Global Growth: The Company aims to sustain growth in North America and accelerate momentum in international markets, prioritizing Greater China and Europe.

- Ignite the Power of Our People: The Company aims to future-proof growth by continuing to develop a consumer-obsessed culture that is agile and always looking forward.

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- *Digital* \- We view our digital platform as a core channel for delivering our products directly to customers, enhancing accessibility beyond the reach of our physical locations.

In addition, we continue to leverage various third-party digital platforms, including marketplaces, to further expand our reach and serve customers globally.

(1) The agreement is expected to renew during fiscal 2027.

For the year ended June 27, 2026, Stuart Weitzman net sales were for the period prior to the sale on August 4, 2025.

Refer to Note 5, "Acquisitions and Divestitures," for further information.

At Tapestry, each brand has a dedicated design and merchandising

We continue to invest in brand-building and consumer engagement initiatives designed to reinforce each brand’s positioning, deepen emotional connections with consumers and support long-term customer acquisition.

As part of our Distribution Network Optimization efforts, we are transitioning from our Ohio fulfillment center to a third-party facility in Pennsylvania which is expected to be completed in the first half of fiscal 2027.

These investments enhanced our ability to capture and segment customer data, enabling more targeted, relevant and effective engagement across the customer journey.

◦We aim to foster a culture of purpose, fulfillment and inclusion at Tapestry, attracting and retaining talent with a compelling and engaging employee experience.

◦We have set goals focused on expanding employee volunteerism globally and strengthening our supply chain by equipping core suppliers with systems and training to detect, prevent and remediate gender-based violence and harassment, and to support workers' mental health.

We deliver on this commitment by expanding our aperture as wide as possible to acquire, retain and grow the best talent.

In addition, during fiscal 2026, the Company launched Brand Building University, which is Tapestry’s enterprise learning experience designed to strengthen how we build iconic brands and drive growth.

We provide employees with a variety of resources to support their well-being, including access to our Employee Assistance Program, Mental Health First Aid training, regular well-being-focused programming and other mental health resources such as Headspace, a mindfulness and meditation application.

Community Engagement

Our global house of brands unites the magic of Coach and kate spade new york.

Each of our brands are unique and independent, while sharing a commitment to innovation and authenticity defined by distinctive products and differentiated customer experiences across channels and geographies.

We use our collective strengths to move our customers and empower our communities, to make the fashion industry more sustainable, and to harness the power of an inclusive culture.

Individually, our brands are iconic.

Together, we can stretch what’s possible.

Known for its rich heritage and unique brand DNA, kate spade new york offers a distinctive point of view and celebrates communities of women around the globe who live their perfectly imperfect lifestyles.

- *Stuart Weitzman* \- Since 1986, New York City based global luxury footwear brand Stuart Weitzman has combined its signature artisanal craftsmanship and precise engineering to empower women to stand strong.

Having perfected the art of shoemaking for nearly 40 years, the brand continues to expand its assortment to feature handbags and men's footwear, all the while staying true to its ethos of inspiring strength and confidence with every step.

Stuart Weitzman includes global sales of primarily Stuart Weitzman brand products to customers through our DTC, wholesale and licensing businesses.

This segment represented 3.0% of total net sales in fiscal 2025.

On February 16, 2025, the Company entered into a sale and purchase agreement (the “Purchase Agreement”) with Caleres, Inc. (the “Purchaser”) to sell the Stuart Weitzman Business (as defined below).

The Purchaser acquired certain assets and liabilities of the Company's global business of designing, manufacturing, promotion, marketing, production, distribution, sales and licensing of Stuart Weitzman branded products (the "Stuart Weitzman Business").

In the first quarter of fiscal 2023, the Company introduced the 2025 growth strategy, *future*speed, designed to amplify and extend the competitive advantages of its brands, with a focus on four strategic priorities:

- Building Lasting Customer Relationships: The Company's brands aim to leverage Tapestry’s transformed business model to drive customer lifetime value through a combination of increased customer acquisition, retention and reactivation.

- Delivering Compelling Omni-Channel Experiences: The Company aims to extend its omni-channel leadership to meet the customer wherever they shop, delivering growth online and in stores.

- Powering Global Growth: The Company aims to support balanced growth across regions, prioritizing North America and China, its largest markets, while capitalizing on opportunities in under-penetrated geographies such as Southeast Asia and Europe.

The Company's next investor day will be held in September 2025, during which the Company will present its latest long-term growth strategy.

| Stuart Weitzman | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

| International | | | | | | 52 | | | | | | 60 | | | | | | 57 | | | | | | | | | | | | | | | | | | | | | | | | | | |

| Total Stuart Weitzman | | | | | | 80 | | | | | | 94 | | | | | | 93 | | | | | | | | | | | | | | | | | | | | | | | | | | |

| Tapestry | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

| North America | | | | | | 541 | | | | | | 555 | | | | | | 571 | | | | | | | | | | | | | | | | | | | | | | | | | | |

| International | | | | | | 830 | | | | | | 847 | | | | | | 858 | | | | | | | | | | | | | | | | | | | | | | | | | | |

| Total Tapestry | | | | | | 1,371 | | | | | | 1,402 | | | | | | 1,429 | | | | | | | | | | | | | | | | | | | | | | | | | | |

| North America | | | | | | 4,907 | | | | | | 4,905 | | | | | | 4,904 | | | | | | | | | | | | | | | | | | | | | | | | | | |

| North America | | | | | | 1,927 | | | | | | 1,938 | | | | | | 1,905 | | | | | | | | | | | | | | | | | | | | | | | | | | |

| International | | | | | | 1,371 | | | | | | 1,338 | | | | | | 1,371 | | | | | | | | | | | | | | | | | | | | | | | | | | |

| Total Stuart Weitzman | | | | | | 1,566 | | | | | | 1,555 | | | | | | 1,578 | | | | | | | | | | | | | | | | | | | | | | | | | | |

| North America | | | | | | 4,095 | | | | | | 4,029 | | | | | | 3,987 | | | | | | | | | | | | | | | | | | | | | | | | | | |

| International | | | | | | 2,142 | | | | | | 2,078 | | | | | | 2,043 | | | | | | | | | | | | | | | | | | | | | | | | | | |

| Total Tapestry | | | | | | 2,912 | | | | | | 2,850 | | | | | | 2,820 | | | | | | | | | | | | | | | | | | | | | | | | | | |

- *Digital* \- We view our digital platform as an instrument to deliver our products to customers directly with the benefit of added accessibility as consumers can purchase our products beyond where our physical locations are based.

Additionally, we continue to leverage various third-party digital platforms to sell our products to customers.

their brand.

As part of our direct marketing strategy, we use databases of consumers to generate personalized communications in direct channels such as email and text messages to drive engagement.

Visitors to our e-commerce sites provide an opportunity to increase the size of these consumer databases, in addition to serving as a point of transactions globally, except where restricted.

Stuart Weitzman products were primarily manufactured in Spain.

During fiscal 2025, Stuart Weitzman had one vendor, located in Spain, who individually provided approximately 11% of the brand's total inventory purchases.

◦As our company name suggests, we believe in the intertwining of a broad mix of people who bring a variety of perspectives, unleashing the power of innovation and self-expression in our products and experiences.

◦We have set goals focused on volunteer service hours completed by our employees around the world, financial and product donations to nonprofit organizations globally, and ensuring people working in the factories crafting our products will have access to empowerment programs during the workday.

For the Fiscal Year Ended June [removed: 28, 2025][added: 27, 2026]

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted [removed: and posted] pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

The aggregate market value of Tapestry, Inc. common stock held by non-affiliates as of December [removed: 27, 2024] [added: 26, 2025] (the last business day of the most recently completed second fiscal quarter) was approximately [removed: $13.59] [added: $26.53] billion.

On [removed: August 1, 2025,] [added: July 31, 2026,] the Registrant had [removed: 208,123,628] [added: 199,391,678] shares of common stock outstanding.

| Proxy Statement for the [removed: 2025] [added: 2026] Annual Meeting of Stockholders | | | | | | Part III, Items 10 – 14 | | |

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| [Item [removed: 14.](#i7ec2d1210adb482a9885ce31be7f31a0_106)] [added: 14.](#ieb174221d75a42d191a29dcd3a3a955e_103)] | | | [Principal Accounting Fees and [removed: Services](#i7ec2d1210adb482a9885ce31be7f31a0_106)] [added: Services](#ieb174221d75a42d191a29dcd3a3a955e_103)] | | | [removed: [53](#i7ec2d1210adb482a9885ce31be7f31a0_106)] [added: [55](#ieb174221d75a42d191a29dcd3a3a955e_103)] | | |

| [Item [removed: 15.](#i7ec2d1210adb482a9885ce31be7f31a0_112)] [added: 15.](#ieb174221d75a42d191a29dcd3a3a955e_109)] | | | [Exhibits and Financial Statement [removed: Schedules](#i7ec2d1210adb482a9885ce31be7f31a0_112)] [added: Schedules](#ieb174221d75a42d191a29dcd3a3a955e_109)] | | | [removed: [54](#i7ec2d1210adb482a9885ce31be7f31a0_112)] [added: [56](#ieb174221d75a42d191a29dcd3a3a955e_109)] | | |

| [Item [removed: 16.](#i7ec2d1210adb482a9885ce31be7f31a0_115)] [added: 16.](#ieb174221d75a42d191a29dcd3a3a955e_112)] | | | [Form 10-K [removed: Summary](#i7ec2d1210adb482a9885ce31be7f31a0_115)] [added: Summary](#ieb174221d75a42d191a29dcd3a3a955e_112)] | | | [removed: [57](#i7ec2d1210adb482a9885ce31be7f31a0_115)] [added: [59](#ieb174221d75a42d191a29dcd3a3a955e_112)] | | |

In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as "may," "can," [added: "could,"] "if," "continue," [removed: "project,"] [added: "projection,"] "assumption," "should," "expect," [removed: "confidence," "goals," "trends,"] [added: "goal," “target,” "trend,"] "anticipate," "intend," "estimate," [removed: "on track,"] "future," [removed: "well positioned to,"] "plan," "potential," "position," [added: "build," "fuel,"] "deliver," [added: "ignite," "aim,"] "believe," "seek," [removed: "see,"] "will," "would," "uncertain," "achieve," [removed: "strategic,"] "growth," [removed: "target," "guidance,"] "forecast," "outlook," "commit," "innovation," "drive," "leverage," "generate," [removed: "enhance," "effort," "progress,"] [added: “lead,” “sustain,” “accelerate,” “future-proof,” "Amplify," “2028 growth strategy,”] "we [removed: can] stretch what’s possible," similar expressions, and variations or negatives of these words.

Tapestry, Inc.’s actual results could differ materially from the results contemplated by these forward-looking statements and are subject to a number of risks, uncertainties, estimates and assumptions that may cause actual results to differ materially from current expectations due to a number of factors, including those discussed in the sections of this Form 10-K filing entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” These factors include, but are not limited to: (i) the impact of [added: economic conditions, recession and inflationary measures; (ii) the impact of] international trade disputes and the risks associated with potential changes to international trade [added: and policy] agreements, including the imposition or threat of imposition of new or increased tariffs or retaliatory tariffs implemented by countries where our manufacturers are located as well as the imposition of additional duties on the products we import; [removed: (ii) the impact of economic conditions, recession and inflationary measures;] (iii) our exposure to international risks, including currency fluctuations and changes in economic or political conditions in the markets where we sell or source our products; (iv) our ability to [added: anticipate consumer preferences,] retain the value of our brands and [removed: to] respond to changing fashion and retail trends in a timely manner, including our ability to execute on our e-commerce and digital strategies; (v) the impact of tax and other legislation; (vi) the [added: ability to successfully implement the initiatives under our Amplify growth strategy; (vii) the] effect of existing and new competition in the marketplace; [removed: (vii)] [added: (viii)] our ability to successfully identify and implement any sales, acquisitions or strategic transactions on attractive terms or at [removed: all, including our recently completed sale of the Stuart Weitzman Business; (viii)] [added: all; (ix)] our ability to achieve intended benefits, cost savings and synergies from acquisitions; [removed: (ix)] [added: (x)] our ability to control costs; [removed: (x)] [added: (xi)] the effect of seasonal and quarterly fluctuations on our sales or operating results; [removed: (xi)] [added: (xii)] the [removed: risk of] [added: risks associated with] cyber security [removed: threats and] [added: threats,] privacy or data security [removed: breaches; (xii)] [added: breaches, and the development, use, governance and regulation of artificial intelligence technologies; (xiii)] our ability to satisfy our outstanding debt obligations or incur additional indebtedness; [removed: (xiii)] [added: (xiv)] the risks associated with climate change and other corporate responsibility issues; [removed: (xiv)] [added: (xv)] our ability to protect against infringement of our trademarks and other proprietary rights; [removed: (xv)] [added: (xvi)] the impact of pending and potential future legal proceedings and [removed: (xvi)] [added: (xvii)] such other risk factors as set forth in Part I, Item 1A.

*In this Form 10-K, references to “we,” “our,” “us,” "Tapestry" and the “Company” refer to Tapestry, Inc., including consolidated subsidiaries as of June [removed: 28, 2025] [added: 27, 2026] ("fiscal [removed: 2025").][added: 2026").]

References to "Coach," "Kate Spade," [added: or] "kate spade new york" [removed: or "Stuart Weitzman"] refer only to the referenced brand.

Fiscal [removed: 2025] [added: 2026] was a 52-week period, [added: the fiscal year ended] June [removed: 29, 2024] [added: 28, 2025] ("fiscal [removed: 2024")] [added: 2025")] was a 52-week period, and [removed: July 1, 2023] [added: the fiscal year ended June 29, 2024] ("fiscal [removed: 2023")] [added: 2024")] was a 52-week period.*

| [Signatures](#ieb174221d75a42d191a29dcd3a3a955e_115) | | | | | | [60](#ieb174221d75a42d191a29dcd3a3a955e_115) | | |

| [Signatures](#i7ec2d1210adb482a9885ce31be7f31a0_118) | | | | | | [58](#i7ec2d1210adb482a9885ce31be7f31a0_118) | | |

Our CISO, who reports directly into the CIO, has over 30 years of experience in [removed: information technology] [added: security studies] and [removed: cybersecurity] [added: cybersecurity,] and holds multiple industry certifications.

- *Attack Surface Management* – actively monitor technology assets to reduce asset exposure or attack efficacy.

- *Attack Surface Management* – actively monitor and prevent external attack attempts.

The following table sets forth the location, use and size of the Company's [removed: key] [added: significant] fulfillment, corporate and product development facilities as of June [removed: 28, 2025.][added: 27, 2026.]

| Westchester, [removed: Ohio] [added: Ohio(1)] | | | | | | Kate Spade [removed: and Stuart Weitzman] North America fulfillment | | | | | | 601,000 | | | | | |

| Shanghai, China | | | | | | Coach Asia regional fulfillment | | | | | | [removed: 96,000] [added: 170,000] | | | | | |

These leases expire at various times through fiscal [removed: 2036.][added: 2037.]

| Ontario, Canada | | | | | | Coach and Kate Spade Canada regional fulfillment | | | | | | 150,000 | | | | | |

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(1) As part of our Distribution Network Optimization efforts, we are transitioning from our Ohio fulfillment center to a third-party facility in Pennsylvania which is expected to be completed in the first half of fiscal 2027.

| Dongguan, China | | | | | | Corporate sourcing, quality control and product development | | | | | | 73,000 | | | | | |

| Shanghai, China | | | | | | Coach Greater China regional management | | | | | | 21,200 | | | | | |

| Shanghai, China | | | | | | Corporate regional management | | | | | | 21,200 | | | | | |

| Elda, Spain | | | | | | Stuart Weitzman regional management, sourcing and quality control | | | | | | 19,000 | | | | | |

| Tokyo, Japan | | | | | | Corporate regional management | | | | | | 17,000 | | | | | |

| London, England | | | | | | Corporate regional management | | | | | | 16,500 | | | | | |

| Ho Chi Minh City, Vietnam | | | | | | Coach sourcing and quality control | | | | | | 12,600 | | | | | |

| Seoul, South Korea | | | | | | Corporate regional management | | | | | | 11,400 | | | | | |

| Singapore | | | | | | Coach Singapore regional management, sourcing and quality control | | | | | | 8,700 | | | | | |

| Hong Kong SAR, China | | | | | | Corporate sourcing and quality control | | | | | | 8,500 | | | | | |

As of [removed: August 1, 2025,] [added: July 31, 2026,] there were [removed: 1,765] [added: 1,664] holders of record of Tapestry’s common stock.

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 [added: Composite] 1500 Apparel, Accessories & Luxury Goods Index over the five-fiscal-year period ending June [removed: 28, 2025,] [added: 27, 2026,] the last day of Tapestry’s most recent fiscal year.

The graph assumes that $100 was invested on [removed: June 27, 2020] [added: July 3, 2021] at the per share closing price in each of Tapestry’s common stock, the S&P 500 Stock Index and the S&P [added: Composite] 1500 Apparel, Accessories & Luxury Goods Index, and that all dividends were reinvested.

][added: Graph FY26.jpg](https://www.sec.gov/Archives/edgar/data/1116132/000111613226000018/tpr-20260627_g1.jpg)]

| | | | | | | Fiscal [removed: 2020] [added: 2021] | | | | | | Fiscal [removed: 2021] [added: 2022] | | | | | | Fiscal [removed: 2022] [added: 2023] | | | | | | Fiscal [removed: 2023] [added: 2024] | | | | | | Fiscal [removed: 2024] [added: 2025] | | | | | | Fiscal [removed: 2025] [added: 2026] | | |

[added: (1)] On [removed: May 12, 2022,] [added: September 10, 2025,] the Company announced that [removed: its] [added: the] Board [removed: of Directors (the "Board")] authorized [removed: a common stock repurchase program] [added: the Company] to repurchase up to [removed: $1.50] [added: $3.00] billion of its outstanding common stock (the [removed: "2022] [added: "2026] Share Repurchase Program").

| TPR | | | | | | $100.00 | | | | | | $74.12 | | | | | | $106.16 | | | | | | $110.13 | | | | | | $229.45 | | | | | | $389.55 | | |

| S&P Composite 1500 Apparel, Accessories & Luxury Goods | | | | | | $100.00 | | | | | | $61.23 | | | | | | $57.68 | | | | | | $50.58 | | | | | | $50.53 | | | | | | $57.50 | | |

| S&P 500 | | | | | | $100.00 | | | | | | $89.17 | | | | | | $105.53 | | | | | | $131.44 | | | | | | $150.59 | | | | | | $181.56 | | |

The Company's share repurchases during the fourth quarter of fiscal 2026 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) | | | | | | | | | | | | | | | | | | | | |

| March 29, 2026 - May 2, 2026 | | | | | | 340,166 | | | | | | $ | 146.99 | | | | | 340,166 | | | | | | $ | 2,138.6 | |

| May 3, 2026 - May 30, 2026 | | | | | | 881,158 | | | | | | 136.18 | | | | | | 881,158 | | | | | | 2,018.6 | | |

| May 31, 2026 - June 27, 2026 | | | | | | 901,855 | | | | | | 144.15 | | | | | | 901,855 | | | | | | 1,888.6 | | |

| Total | | | | | | 2,123,179 | | | | | | | | | | | | 2,123,179 | | | | | | | | |

| TPR | | | | | | $100.00 | | | | | | $339.92 | | | | | | $251.94 | | | | | | $360.87 | | | | | | $374.35 | | | | | | $779.94 | | |

| S&P 1500 Apparel, Accessories & Luxury Goods | | | | | | $100.00 | | | | | | $200.09 | | | | | | $122.52 | | | | | | $115.41 | | | | | | $101.21 | | | | | | $101.11 | | |

| S&P 500 | | | | | | $100.00 | | | | | | $146.97 | | | | | | $131.06 | | | | | | $155.10 | | | | | | $193.19 | | | | | | $221.32 | | |

On November 13, 2024, the Board authorized the Company to repurchase up to $2.00 billion of outstanding shares of its common stock (the "2025 Share Repurchase Program").

Under the 2025 Share Repurchase Program, the Company may repurchase shares on the open market, in privately negotiated transactions or in other transactions, including accelerated share repurchase programs.

On November 21, 2024, the Company entered into accelerated share repurchase agreements (the “ASR Agreements”) with Bank of America, N.A. and Morgan Stanley & Co. LLC (the “Dealers”) to repurchase an aggregate of up to $2.00 billion of the Company’s shares of common stock.

Under the ASR Agreements, the Company paid $2.00 billion to the Dealers and received an initial delivery of 28,363,766 shares of the Company's common stock on November 26, 2024.

The total number of shares purchased by the Company pursuant to the ASR Agreements will be based on the volume-weighted average price ("VWAP") of the Company's common stock on specified dates during the term of each of the ASR Agreements, less a discount, and subject to adjustments pursuant to the terms and conditions of the ASR Agreements.

The difference between the initially delivered shares and the total number of shares purchased will be settled in four tranches, no later than the first quarter of fiscal 2026.

During the quarter ended March 29, 2025, the Company cash settled $3.0 million related to 43,094 shares of common stock owed for the settlement of one tranche as a result of the increase in the VWAP of the Company's common stock.

During the quarter ended June 28, 2025, the Company cash settled $3.6 million related to 49,442 shares of common stock of an additional tranche.

As of June 28, 2025, the Company had $800.0 million of additional shares available to be repurchased as authorized under the 2022 Share Repurchase Program and no remaining availability to repurchase shares under the 2025 Share Repurchase Program.

There were no shares repurchased during the three months ended June 28, 2025 under the 2022 Share Repurchase Program and the 2025 Share Repurchase Program.

Management, under the supervision and with the participation of the Company’s CEO and CFO, assessed the effectiveness of the Company’s internal control over financial reporting as of June [removed: 28, 2025] [added: 27, 2026] and concluded that it was effective at the reasonable assurance level.

The Company’s independent auditors have issued an audit report on the Company's internal control over financial reporting as of June [removed: 28, 2025] [added: 27, 2026] as included elsewhere herein.

[removed: There] [added: Other than the human resources management and payroll accounting system implementation noted above, there] were no changes in the Company’s internal control over financial reporting during the fourth quarter of [removed: 2025] [added: fiscal 2026] that were identified in connection with management’s evaluation required by paragraph (d) of Rules 13a-15 and 15d-15 under the Securities Exchange Act of 1934, as amended, that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

During the fourth quarter of fiscal 2026, the Company implemented a new human resources management and payroll accounting system, which resulted in an update to certain related internal controls.

There was no adoption, modification or termination of any Rule 10b5-1 plan or other trading arrangements by our directors and officers during the quarter ended June [removed: 28, 2025.][added: 27, 2026.]

The information required to be included by Item 10 of Form 10-K will be included in the Proxy Statement for the [removed: 2025] [added: 2026] Annual Meeting of Stockholders (the [removed: "2025] [added: "2026] Proxy Statement") and such information is incorporated by reference herein.

The [removed: 2025] [added: 2026] Proxy Statement will be filed with the Commission within 120 days after the end of the fiscal year covered by this Form 10-K pursuant to Regulation 14A under the Securities Exchange Act of 1934, as amended.

The information required by this Item will be included in the [removed: 2025] [added: 2026] Proxy Statement and is incorporated herein by reference.

The information under the headings “Securities Authorized for Issuance Under Equity Compensation Plans” and “Tapestry Stock Ownership by Certain Beneficial Owners and Management” in the Company’s Proxy Statement for the [removed: 2025] [added: 2026] Annual Meeting of Stockholders is incorporated herein by reference.

The information required by this Item will be included in the [removed: 2025] [added: 2026] Proxy Statement and is incorporated herein by reference.

The information required by this Item will be included in the [removed: 2025] [added: 2026] Proxy Statement and is incorporated herein by reference.

| 3.1 | | | | | | [Articles of Incorporation, dated June 1, 2000, which is incorporated herein by reference from Exhibit [removed: 3.1 of to] [added: 3.1](http://www.sec.gov/Archives/edgar/data/1116132/000091205700028905/ex-3_1.txt) [to] the Registrant's Registration Statement on Form S-1 filed on June 16, 2000](http://www.sec.gov/Archives/edgar/data/1116132/000091205700028905/ex-3_1.txt) | | |

| 3.6 | | | | | | [Articles of Amendment to Charter [removed: of](http://www.sec.gov/Archives/edgar/data/1116132/000115752317002906/a51707847ex3_1.htm) [the Registrant,](http://www.sec.gov/Archives/edgar/data/1116132/000115752317002906/a51707847ex3_1.htm) [effective] [added: of the Registrant, effective] as of October 31, 2017, which is incorporated by reference from Exhibit 3.1 to the Registrant's Current Report on Form 8-K filed on October 31, 2017](http://www.sec.gov/Archives/edgar/data/1116132/000115752317002906/a51707847ex3_1.htm) | | |

| 3.7 | | | | | | [Bylaws [removed: of](https://www.sec.gov/Archives/edgar/data/1116132/000115752323000545/a53380033_ex31.htm) [the Registrant,](https://www.sec.gov/Archives/edgar/data/1116132/000115752323000545/a53380033_ex31.htm) [effective] [added: of the Registrant, effective] as of April 12, 2023, which is incorporated herein by reference from Exhibit 3.1 to the Registrant’s Current Report on Form 8-K filed on April 13, 2023](https://www.sec.gov/Archives/edgar/data/1116132/000115752323000545/a53380033_ex31.htm) | | |

| 4.1 | | | | | | [Specimen Certificate for Common Stock [removed: of](http://www.sec.gov/Archives/edgar/data/1116132/000111613218000021/exhibit41-fy18.htm) [the Registrant](http://www.sec.gov/Archives/edgar/data/1116132/000111613218000021/exhibit41-fy18.htm) [which] [added: of the Registrant which] is incorporated by reference from Exhibit 4.1 to the Registrant's Annual Report on Form 10-K for the fiscal year ended June 30, 2018, filed on August 16, 2018](http://www.sec.gov/Archives/edgar/data/1116132/000111613218000021/exhibit41-fy18.htm) | | |

| 4.5 | | | | | | [Indenture, dated as of December 1, 2021, between [removed: the](https://www.sec.gov/Archives/edgar/data/0001116132/000114036121039993/brhc10031375_ex4-1.htm) [Registrant](https://www.sec.gov/Archives/edgar/data/0001116132/000114036121039993/brhc10031375_ex4-1.htm) [and] [added: the Registrant and] U.S. Bank National Association, as trustee, which is incorporated herein by reference from Exhibit 4.1 to the Registrant’s Current Report on Form 8-K filed on December 1, 2021](https://www.sec.gov/Archives/edgar/data/0001116132/000114036121039993/brhc10031375_ex4-1.htm) | | |

| 4.6 | | | | | | [First Supplemental Indenture, dated as of December 1, 2021, relating to the 3.050% senior unsecured notes due 2032, between [removed: the](https://www.sec.gov/Archives/edgar/data/0001116132/000114036121039993/brhc10031375_ex4-2.htm) [Registrant](https://www.sec.gov/Archives/edgar/data/0001116132/000114036121039993/brhc10031375_ex4-2.htm) [and] [added: the Registrant and] U.S. Bank National Association, as trustee, which is incorporated by reference from Exhibit 4.2 to the Registrant’s Current Report on Form 8-K filed on December 1, 2021](https://www.sec.gov/Archives/edgar/data/0001116132/000114036121039993/brhc10031375_ex4-2.htm) | | |

| 4.8 | | | | | | [Base Indenture, dated as of December 11, 2024, between [removed: the](https://www.sec.gov/Archives/edgar/data/1116132/000114036124049035/ny20039258x4_ex4-1.htm) [Registrant](https://www.sec.gov/Archives/edgar/data/1116132/000114036124049035/ny20039258x4_ex4-1.htm) [and] [added: the Registrant and] U.S. Bank Trust Company, National Association, as trustee, which is incorporated by reference from Exhibit 4.1 to the Registrant’s Current Report on Form 8-K, filed on December 11, 2024](https://www.sec.gov/Archives/edgar/data/1116132/000114036124049035/ny20039258x4_ex4-1.htm) | | |

| 4.9 | | | | | | [First Supplemental Indenture, dated as of December 11, 2024, relating to the 5.100% senior unsecured notes due 2030 and the 5.500% senior unsecured notes due 2035, between [removed: the](https://www.sec.gov/Archives/edgar/data/1116132/000114036124049035/ny20039258x4_ex4-2.htm) [Registrant](https://www.sec.gov/Archives/edgar/data/1116132/000114036124049035/ny20039258x4_ex4-2.htm) [and] [added: the Registrant and] U.S. Bank Trust Company, National Association, as trustee, which is incorporated by reference from Exhibit 4.2 to the Registrant’s Current Report on Form 8-K, filed on December 11, 2024](https://www.sec.gov/Archives/edgar/data/1116132/000114036124049035/ny20039258x4_ex4-2.htm) | | |

| [removed: 10.1†] [added: 10.6†] | | | | | | [removed: [Coach,] [added: [Coach] Inc. [removed: Non-Qualified] [added: Executive] Deferred Compensation [removed: Plan for Outside Directors,] [added: Plan, effective as of January 1, 2016,] which is incorporated [added: herein] by reference from Exhibit [removed: 10.14 to](http://www.sec.gov/Archives/edgar/data/1116132/000095012303010503/y89793exv10w14.txt) [t](http://www.sec.gov/Archives/edgar/data/1116132/000095012303010503/y89793exv10w14.txt)[he] [added: 10.10 to the] Registrant’s Annual Report on Form 10-K for the fiscal year ended June [removed: 28, 2003](http://www.sec.gov/Archives/edgar/data/1116132/000095012303010503/y89793exv10w14.txt)] [added: 29, 2019](https://www.sec.gov/Archives/edgar/data/1116132/000111613219000016/exhibit1010-fy19.htm)] | | |

| [removed: 10.2†] [added: 10.1†] | | | | | | [Amended and Restated Tapestry, Inc. 2001 Employee Stock Purchase Plan, which is incorporated by reference to Appendix C to the Registrant's Definitive Proxy Statement for the 2016 Annual Meeting of Stockholders filed on September 30, 2016](http://www.sec.gov/Archives/edgar/data/1116132/000156761916003029/s001418x1_def14a.htm#pAC) | | |

| [removed: 10.3†] [added: 10.2†] | | | | | | [Coach, Inc. [removed: 2004] [added: 2010] Stock Incentive Plan, which is incorporated by reference from Appendix A to the Registrant’s Definitive Proxy Statement for the [removed: 2004] [added: 2010] Annual Meeting of Stockholders, filed on September [removed: 29, 2004](http://www.sec.gov/Archives/edgar/data/1116132/000095012304011541/y02524def14a.htm#004)] [added: 24, 2010](https://www.sec.gov/Archives/edgar/data/1116132/000114420410050825/v197002_def14a.htm)] | | |

| 10.4† | | | | | | [Coach, Inc. [added: Amended and Restated] 2010 Stock Incentive Plan, which is incorporated [added: herein] by reference from Appendix [removed: A] [added: B] to the Registrant’s Definitive Proxy Statement for the [removed: 2010] [added: 2014] Annual Meeting of Stockholders, filed on September [removed: 24, 2010](http://www.sec.gov/Archives/edgar/data/1116132/000114420410050825/v197002_def14a.htm)] [added: 26, 2014](https://www.sec.gov/Archives/edgar/data/1116132/000120677414002935/coach_def14a.htm)] | | |

| [removed: 10.5†] [added: 10.3†] | | | | | | [Amendment to the Coach, Inc. 2010 Stock Incentive Plan, which is incorporated herein by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed on September 22, [removed: 2014](http://www.sec.gov/Archives/edgar/data/1116132/000115752314003764/a50946726ex10_1.htm)] [added: 2014](https://www.sec.gov/Archives/edgar/data/1116132/000115752314003764/a50946726ex10_1.htm)] | | |

| [removed: 10.6†] [added: 10.5†] | | | | | | [Coach, Inc. Amended and Restated 2010 Stock Incentive [removed: Plan,] [added: Plan (Amended and Restated as of September 18, 2015),] which is incorporated herein by reference from Appendix B to the Registrant’s Definitive Proxy Statement for the [removed: 2014] [added: 2015] Annual Meeting of Stockholders, filed on September [removed: 26, 2014](http://www.sec.gov/Archives/edgar/data/1116132/000120677414002935/coach_def14a.htm)] [added: 25, 2015](https://www.sec.gov/Archives/edgar/data/1116132/000156761915001265/s001023x1_def14a.htm)] | | |

| 10.7† | | | | | | [Coach, Inc. Amended and Restated 2010 Stock Incentive Plan (Amended and Restated as of September [removed: 18, 2015),] [added: 23, 2016),] which is incorporated herein by reference from Appendix B to the [removed: Registrant’s] [added: Registrant's] Definitive Proxy Statement for the [removed: 2015] [added: 2016] Annual Meeting of [added: the] Stockholders, filed on September [removed: 25, 2015](http://www.sec.gov/Archives/edgar/data/1116132/000156761915001265/s001023x1_def14a.htm)] [added: 30, 2016](https://www.sec.gov/Archives/edgar/data/1116132/000156761916003029/s001418x1_def14a.htm#pAB)] | | |

| [removed: 10.8†] [added: 10.21†] | | | | | | [removed: [Coach] [added: [Tapestry,] Inc. [removed: Executive Deferred Compensation] [added: Special Severance] Plan, effective [removed: as of January 1, 2016,] [added: August 12, 2019,] which is incorporated herein by reference from Exhibit [removed: 10.10] [added: 10.40] to the Registrant’s Annual Report on Form 10-K for the fiscal year ended June 29, [removed: 2019](https://www.sec.gov/Archives/edgar/data/1116132/000111613219000016/exhibit1010-fy19.htm)] [added: 2019](https://www.sec.gov/Archives/edgar/data/1116132/000111613219000016/exhibit1040-fy19.htm)] | | |

| [removed: 10.9†] [added: 10.8†] | | | | | | [Coach, Inc. Amended and Restated 2010 Stock Incentive Plan (Amended and Restated as of September [removed: 23, 2016),] [added: 20, 2017),] which is incorporated herein by reference from Appendix B to the Registrant's Definitive Proxy Statement for the [removed: 2016] [added: 2017] Annual Meeting of the Stockholders, filed on September [removed: 30, 2016](http://www.sec.gov/Archives/edgar/data/1116132/000156761916003029/s001418x1_def14a.htm#pAB)] [added: 29, 2017](https://www.sec.gov/Archives/edgar/data/1116132/000156761917002092/s001841x1_def14a.htm#pAB)] | | |

| [removed: 10.10†] [added: 10.23†] | | | | | | [removed: [Coach, Inc.] [added: [Second] Amended and Restated [removed: 2010] [added: Tapestry Inc. 2018] Stock Incentive [removed: Plan (Amended and Restated as of September 20, 2017),] [added: Plan,] which is incorporated [removed: herein] by reference from Appendix B to the Registrant's Definitive Proxy Statement for the [removed: 2017] [added: 2020] Annual Meeting of [removed: the] Stockholders, filed on September [removed: 29, 2017](http://www.sec.gov/Archives/edgar/data/1116132/000156761917002092/s001841x1_def14a.htm#pAB)] [added: 25, 2020](http://www.sec.gov/Archives/edgar/data/1116132/000114036120021572/nc10014780x1_def14a.htm#pAB)] | | |

| [removed: 10.11†] [added: 10.9†] | | | | | | [Tapestry Inc. 2018 Stock Incentive Plan, which is incorporated herein by reference from Appendix B to the Registrant's Definitive Proxy Statement for the 2018 Annual Meeting of Stockholders, filed on September 28, 2018](http://www.sec.gov/Archives/edgar/data/1116132/000114036118039582/s002363x1_def14a.htm#pAB) | | |

| [removed: 10.12†] [added: 10.13†] | | | | | | [Form of Stock Option Grant Notice and Agreement [added: for Outside Directors] under the Tapestry, Inc. 2018 Stock Incentive Plan, which is incorporated [removed: herein] by reference from Exhibit [removed: 10.14] [added: 10.3] to the [removed: Registrant’s Annual] [added: Registrant's Quarterly] Report on [removed: Form 10-K] [added: Form](http://www.sec.gov/Archives/edgar/data/1116132/000111613219000007/exhibit103q22019.htm) [10](http://www.sec.gov/Archives/edgar/data/1116132/000111613219000007/exhibit103q22019.htm)[\-Q] for the [removed: fiscal year] [added: period] ended [removed: June] [added: December] 29, [removed: 2019](https://www.sec.gov/Archives/edgar/data/1116132/000111613219000016/exhibit1014-fy19.htm)] [added: 2018](http://www.sec.gov/Archives/edgar/data/1116132/000111613219000007/exhibit103q22019.htm)] | | |

| [removed: 10.13†] [added: 10.14†] | | | | | | [Form of Restricted Stock Unit [removed: Award] Grant Notice and Agreement [added: for Outside Directors] under the Tapestry, Inc. 2018 Stock Incentive Plan, which is incorporated [removed: herein] by reference from Exhibit [removed: 10.15] [added: 10.4] to the [removed: Registrant’s Annual] [added: Registrant's Quarterly] Report on Form [removed: 10-K] [added: 10-Q] for the [removed: fiscal year] [added: period] ended [removed: June] [added: December] 29, [removed: 2019](https://www.sec.gov/Archives/edgar/data/1116132/000111613219000016/exhibit1015-fy19.htm)] [added: 2018](http://www.sec.gov/Archives/edgar/data/1116132/000111613219000007/exhibit104q22019.htm)] | | |

| [removed: 10.14†] [added: 10.20†] | | | | | | [removed: [Form of Performance Restricted Stock Unit Agreement Grant Notice and Agreement under the Tapestry,] [added: [Tapestry,] Inc. [removed: 2018 Stock Incentive Plan,] [added: Severance Pay Plan for Vice Presidents and Above, Amended and Restated effective May 9, 2019,] which is incorporated herein by reference from Exhibit [removed: 10.16] [added: 10.38] to the Registrant’s Annual Report on Form 10-K for the fiscal year ended June 29, [removed: 2019](https://www.sec.gov/Archives/edgar/data/1116132/000111613219000016/exhibit1016-fy19.htm)] [added: 2019](https://www.sec.gov/Archives/edgar/data/1116132/000111613219000016/exhibit1038-fy19.htm)] | | |

| [removed: 10.15†] [added: 10.10*†] | | | | | | [Form of Stock Option Grant Notice and Agreement [removed: for Outside Directors] under the Tapestry, Inc. 2018 Stock Incentive [removed: Plan, which is incorporated by reference from Exhibit 10.3 to the Registrant's Quarterly Report on Form-Q for the period ended December 29, 2018](http://www.sec.gov/Archives/edgar/data/1116132/000111613219000007/exhibit103q22019.htm)] [added: Plan](https://www.sec.gov/Archives/edgar/data/1116132/000111613226000018/exhibit1010-fy26.htm)] | | |

| [removed: 10.16†] [added: 10.11*†] | | | | | | [Form of Restricted Stock Unit [added: Award] Grant Notice and Agreement [removed: for Outside Directors] under the Tapestry, Inc. 2018 Stock Incentive [removed: Plan, which is incorporated by reference from Exhibit 10.4 to the Registrant's Quarterly Report on Form 10-Q for the period ended December 29, 2018](http://www.sec.gov/Archives/edgar/data/1116132/000111613219000007/exhibit104q22019.htm)] [added: Plan](https://www.sec.gov/Archives/edgar/data/1116132/000111613226000018/exhibit1011-fy26.htm)] | | |

| [removed: 10.17†] [added: 10.15†] | | | | | | [Tapestry, Inc. 2018 Performance-Based Annual Incentive Plan, which is incorporated herein by reference from Exhibit 10.1 to the Registrant's Current Report on Form 8-K, filed on August 10, 2018](http://www.sec.gov/Archives/edgar/data/1116132/000115752318001795/a51851130ex10_1.htm) | | |

| [removed: 10.18] [added: 10.16] | | | | | | [Redemption Agreement and Amendment to Limited Liability Company Agreement, dated as of August 1, 2016, by and between Legacy Yards LLC, Coach Legacy Yards LLC and Podium Fund Tower C SPV LLC, which is incorporated by reference from Exhibit 10.1 to the Registrant's Quarterly Report on Form 10-Q for the period ended October 1, 2016](http://www.sec.gov/Archives/edgar/data/1116132/000111613216000033/exhibit101q12017.htm) | | |

| [removed: 10.19] [added: 10.17] | | | | | | [Lease Agreement, dated as of August 1, 2016, by and between Coach, Inc. and Legacy Yards Tenant LP, which is incorporated by reference from Exhibit 10.1 to the Registrant's Quarterly Report on Form 10-Q for the period ended October 1, 2016](http://www.sec.gov/Archives/edgar/data/1116132/000111613216000033/exhibit102q12017.htm) | | |

| [removed: 10.20] [added: 10.18] | | | | | | [Amended and Restated Development Agreement, dated as of August 1, 2016, by and between ERY Developer LLC and Coach Legacy Yards LLC, which is incorporated by reference from Exhibit 10.3 to the Registrant's Quarterly Report on Form 10-Q for the period ended October 1, 2016](http://www.sec.gov/Archives/edgar/data/1116132/000111613216000033/exhibit103q12017.htm) | | |

| [removed: 10.21] [added: 10.19] | | | | | | [Sublease, dated as of September 13, 2017 between Coach, Inc. and The Guardian Life Insurance Company of America, a New York mutual insurance company, which is incorporated by reference from Exhibit 10.1 to the Registrant's Current Report on Form 8-K, filed on September 14, 2017.](http://www.sec.gov/Archives/edgar/data/1116132/000156761917001961/s001879x1_ex10-1.htm) | | |

| [removed: 10.23†] [added: 10.29†] | | | | | | [removed: [Tapestry, Inc. Special Severance Plan, effective] [added: [Letter Agreement, dated] August [removed: 12, 2019, which is incorporated herein] [added: 11, 2023, between the Registrant and Denise Kulikowsky](https://www.sec.gov/Archives/edgar/data/1116132/000111613225000019/exhibit1035-fy25.htm)[,](https://www.sec.gov/Archives/edgar/data/1116132/000111613225000019/exhibit1035-fy25.htm) [](https://www.sec.gov/Archives/edgar/data/1116132/000111613225000019/exhibit1035-fy25.htm)[incorporated] by reference from Exhibit [removed: 10.40] [added: 10.35] to the Registrant’s Annual Report on Form 10-K for the fiscal year ended June [removed: 29, 2019](https://www.sec.gov/Archives/edgar/data/1116132/000111613219000016/exhibit1040-fy19.htm)] [added: 28, 2025, filed August 14, 2025](https://www.sec.gov/Archives/edgar/data/1116132/000111613225000019/exhibit1035-fy25.htm)] | | |

| [removed: 10.24†] [added: 10.22†] | | | | | | [Amended & Restated Tapestry Inc. 2018 Stock Incentive Plan, which is incorporated herein by reference from Appendix B to the Registrant's Definitive Proxy Statement for the 2019 Annual Meeting of Stockholders, filed on September 27, 2019](https://www.sec.gov/Archives/edgar/data/1116132/000114036119017437/nc10002633x1_def14a.htm#pAB) | | |

| [removed: 10.25] [added: 10.32] | | | | | | [Credit [removed: Agreement,] [added: Agreement] dated as of [removed: October 24, 2019, by] [added: May 22, 2025, among the Registrant, the foreign subsidiary borrowers from time to time party thereto, the lenders party thereto,] and [removed: among](https://www.sec.gov/Archives/edgar/data/1116132/000111613219000021/exhibit104q12020.htm) [the Registr](https://www.sec.gov/Archives/edgar/data/1116132/000111613219000021/exhibit104q12020.htm)[ant](https://www.sec.gov/Archives/edgar/data/1116132/000111613219000021/exhibit104q12020.htm)[,] Bank of America, [removed: N.A. as Administrative Agent, JPMorgan Chase Bank, N.A. and HSBC Bank USA,] N.A., as [removed: Co-Syndication Agents, and the other lenders party thereto,] [added: administrative agent, which is] incorporated [added: herein] by reference from Exhibit [removed: 10.4 to](https://www.sec.gov/Archives/edgar/data/1116132/000111613219000021/exhibit104q12020.htm) [the Registrant](https://www.sec.gov/Archives/edgar/data/1116132/000111613219000021/exhibit104q12020.htm)['s](https://www.sec.gov/Archives/edgar/data/1116132/000111613219000021/exhibit104q12020.htm) [Quarterly] [added: 10.1 to the Registrant’s Current] Report on Form [removed: 10-Q] [added: 8-K,] filed on [removed: November 7, 2019](https://www.sec.gov/Archives/edgar/data/1116132/000111613219000021/exhibit104q12020.htm)] [added: May 23, 2025](https://www.sec.gov/Archives/edgar/data/1116132/000114036125020276/ef20049426_8k.htm)] | | |

| [removed: 10.28†] [added: 10.24†] | | | | | | [Letter Agreement, dated October 24, 2020 between the Registrant and Joanne Crevoiserat, incorporated by reference from Exhibit 10.5 to the Registrant’s Quarterly Report on Form 10-Q for the fiscal quarter ended September 26, 2020](http://www.sec.gov/Archives/edgar/data/0001116132/000111613220000029/exhibit105q12021.htm) | | |

| [removed: 10.29] [added: 10.25] | | | | | | [First Amendment to Lease, dated as of March 12, 2021, between Legacy Yards Tenant LP, a Delaware limited partnership [removed: and](http://www.sec.gov/Archives/edgar/data/0001116132/000111613221000013/exhibit101q32021.htm) [the Registrant](http://www.sec.gov/Archives/edgar/data/0001116132/000111613221000013/exhibit101q32021.htm)[,] [added: and the Registrant,] incorporated by reference from Exhibit 10.1 to the Registrant’s Quarterly Report on Form 10-Q](http://www.sec.gov/Archives/edgar/data/0001116132/000111613221000013/exhibit101q32021.htm) | | |

| [removed: 10.30†] [added: 10.26†] | | | | | | [Letter Agreement, dated April 12, 2021, between the Registrant and Todd Kahn, incorporated by reference from Exhibit 10.2 to the Registrant’s Quarterly Report on Form 10-Q](http://www.sec.gov/Archives/edgar/data/0001116132/000111613221000013/exhibit102q32021.htm) | | |

| [removed: 10.31†] [added: 10.27†] | | | | | | [Letter Agreement, dated April 26, 2021, between the Registrant and Scott Roe, incorporated by reference from Exhibit 10.4 to the Registrant’s Quarterly Report on Form 10-Q](http://www.sec.gov/Archives/edgar/data/0001116132/000111613221000013/exhibit104q32021.htm) | | |

| [removed: 10.33] [added: 10.28†] | | | | | | [removed: [Credit Agreement] [added: [Letter Agreement,] dated [removed: as of May 11,] [added: August 4,] 2022, [removed: among](https://www.sec.gov/Archives/edgar/data/0001116132/000114036122018834/ny20004200x2_ex1-1.htm) [the Registran](https://www.sec.gov/Archives/edgar/data/0001116132/000114036122018834/ny20004200x2_ex1-1.htm)[t,](https://www.sec.gov/Archives/edgar/data/0001116132/000114036122018834/ny20004200x2_ex1-1.htm) [](https://www.sec.gov/Archives/edgar/data/0001116132/000114036122018834/ny20004200x2_ex1-1.htm)[the foreign subsidiary borrowers from time to time party thereto,] [added: between] the [removed: lenders from time to time party thereto,] [added: Registrant] and [removed: Bank of America, N.A. as administrative agent,] [added: Scott Roe,] incorporated by reference from Exhibit [removed: 1.1] [added: 10.1] to the Registrant’s Current Report on Form [removed: 8-K] [added: 8-K,] filed on [removed: May 12, 2022](https://www.sec.gov/Archives/edgar/data/0001116132/000114036122018834/ny20004200x2_ex1-1.htm)] [added: August 4, 2022](https://www.sec.gov/Archives/edgar/data/0001116132/000115752322001023/a52801549ex10_1.htm)] | | |

| [removed: 10.34†] [added: 10.31] | | | | | | [removed: [Letter] [added: [Form of ASR] Agreement, [removed: dated August 4, 2022, between the Registrant and Scott Roe,] incorporated [added: herein] by reference [removed: from] [added: to] Exhibit 10.1 to the Registrant’s Current Report on Form [removed: 8-K,] [added: 8-K] filed [added: with the SEC] on [removed: August 4, 2022](https://www.sec.gov/Archives/edgar/data/0001116132/000115752322001023/a52801549ex10_1.htm)] [added: November 22, 2024](https://www.sec.gov/Archives/edgar/data/1116132/000114036124047569/ef20039097_ex10-1.htm)] | | |

| [removed: 10.37] [added: 10.30] | | | | | | [Termination Agreement, dated November 13, 2024, by and among [removed: the](https://www.sec.gov/Archives/edgar/data/1116132/000114036124046713/ef20038690_ex10-1.htm) [Registrant](https://www.sec.gov/Archives/edgar/data/1116132/000114036124046713/ef20038690_ex10-1.htm)[,] [added: the Registrant,] Sunrise Merger Sub, Inc. and Capri Holdings Limited, incorporated herein by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed with the SEC on November 14, 2024](https://www.sec.gov/Archives/edgar/data/1116132/000114036124046713/ef20038690_ex10-1.htm) | | |

| 19.1 | | | | | | [Insider Trading Policies and Procedures [removed: of](https://www.sec.gov/Archives/edgar/data/1116132/000111613224000018/exhibit191-fy24.htm) [the] [added: of the] Registrant, which [removed: is](https://www.sec.gov/Archives/edgar/data/1116132/000111613224000018/exhibit191-fy24.htm) [inc](https://www.sec.gov/Archives/edgar/data/1116132/000111613224000018/exhibit191-fy24.htm)[orporated] [added: is incorporated] by reference [removed: from](https://www.sec.gov/Archives/edgar/data/1116132/000111613224000018/exhibit191-fy24.htm) [Exhibit] [added: from Exhibit] 19.1 to the [removed: Registr](https://www.sec.gov/Archives/edgar/data/1116132/000111613224000018/exhibit191-fy24.htm)[ant](https://www.sec.gov/Archives/edgar/data/1116132/000111613224000018/exhibit191-fy24.htm)['s](https://www.sec.gov/Archives/edgar/data/1116132/000111613224000018/exhibit191-fy24.htm) [Annual] [added: Registrant's Annual] Report [removed: on](https://www.sec.gov/Archives/edgar/data/1116132/000111613224000018/exhibit191-fy24.htm) [Form] [added: on Form] 10-K filed on [removed: Au](https://www.sec.gov/Archives/edgar/data/1116132/000111613224000018/exhibit191-fy24.htm)[gust 15](https://www.sec.gov/Archives/edgar/data/1116132/000111613224000018/exhibit191-fy24.htm)[,] [added: August 15,] 2024](https://www.sec.gov/Archives/edgar/data/1116132/000111613224000018/exhibit191-fy24.htm) | | |

| 10.12*† | | | | | | [Form of Performance Restricted Stock Unit Agreement Grant Notice and Agreement under the Tapestry, Inc. 2018 Stock Incentive Plan](https://www.sec.gov/Archives/edgar/data/1116132/000111613226000018/exhibit1012-fy26.htm) | | |

| Exhibit | | | | | | Description | | |

| 10.22† | | | | | | [Tapestry, Inc. Severance Pay Plan for Vice Presidents and Above, Amended and Restated effective May 9, 2019, which is incorporated herein by reference from Exhibit 10.38 to the Registrant’s Annual Report on Form 10-K for the fiscal year ended June 29, 2019](https://www.sec.gov/Archives/edgar/data/1116132/000111613219000016/exhibit1038-fy19.htm) | | |

| 10.26 | | | | | | [Amendment No. 1, dated May 19, 2020, to the Credit Agreement, dated as of October 24, 2019 by and among](http://www.sec.gov/Archives/edgar/data/0001116132/000111613220000022/exhibit1037-fy20.htm) [the Registr](http://www.sec.gov/Archives/edgar/data/0001116132/000111613220000022/exhibit1037-fy20.htm)[ant](http://www.sec.gov/Archives/edgar/data/0001116132/000111613220000022/exhibit1037-fy20.htm)[,](http://www.sec.gov/Archives/edgar/data/0001116132/000111613220000022/exhibit1037-fy20.htm) [Bank of America, N.A. as Administrative Agent, JPMorgan Chase Bank, N.A. and HSBC Bank USA, N.A., as Co-Syndication Agents, and the other lenders party thereto, which is incorporated herein by reference from Exhibit 10.37 to the Registrant’s Annual Report on Form 10-K for the fiscal year ended June 27, 2020](http://www.sec.gov/Archives/edgar/data/0001116132/000111613220000022/exhibit1037-fy20.htm) | | |

| 10.27† | | | | | | [Second Amended and Restated Tapestry Inc. 2018 Stock Incentive Plan, which is incorporated by reference from Appendix B to the Registrant's Definitive Proxy Statement for the 2020 Annual Meeting of Stockholders, filed on September 25, 2020](http://www.sec.gov/Archives/edgar/data/1116132/000114036120021572/nc10014780x1_def14a.htm#pAB) | | |

| 10.32 | | | | | | [Waiver, dated August 11, 2021, to the Credit Agreement, dated as of October 24, 2019 by and among](https://www.sec.gov/Archives/edgar/data/0001116132/000111613221000020/exhibit1044-fy21.htm) [t](https://www.sec.gov/Archives/edgar/data/0001116132/000111613221000020/exhibit1044-fy21.htm)[h](https://www.sec.gov/Archives/edgar/data/0001116132/000111613221000020/exhibit1044-fy21.htm)[e Registra](https://www.sec.gov/Archives/edgar/data/0001116132/000111613221000020/exhibit1044-fy21.htm)[nt,](https://www.sec.gov/Archives/edgar/data/0001116132/000111613221000020/exhibit1044-fy21.htm) [Tapestry, Inc., Bank of America, N.A. as Administrative Agent, JPMorgan Chase Bank, N.A. and HSBC Bank USA, N.A., as Co-Syndication Agents, and the other lenders party thereto, which is incorporated herein by reference from Exhibit 10.44 to the Registrant’s Annual Report on Form 10-K for the fiscal year ended July 3, 2021](https://www.sec.gov/Archives/edgar/data/0001116132/000111613221000020/exhibit1044-fy21.htm) | | |

| 10.35*† | | | | | | [Letter Agreement, dated August 11, 2023, between the Registrant and Denise Kulikowsky](https://www.sec.gov/Archives/edgar/data/1116132/000111613225000019/exhibit1035-fy25.htm) | | |

| 10.36 | | | | | | [Amendment No. 1, dated as of August 30, 2023, to the Credit Agreement, dated as of May 11, 2022, among the](https://www.sec.gov/Archives/edgar/data/1116132/000114036123042379/brhc20058322_ex10-1.htm) [Registrant](https://www.sec.gov/Archives/edgar/data/1116132/000114036123042379/brhc20058322_ex10-1.htm)[, the lenders party thereto and Bank of America, N.A., as administrative agent, which is incorporated herein by reference from Exhibit 10.1 to the Registrant’s Quarterly Report on Form 10-Q filed on November 9, 2023](https://www.sec.gov/Archives/edgar/data/1116132/000114036123042379/brhc20058322_ex10-1.htm) | | |

| 10.38 | | | | | | [Term Loan Credit Agreement dated November 21, 2024 by and among the](https://www.sec.gov/Archives/edgar/data/1116132/000114036124047569/ef20039097_ex10-2.htm) [Registrant](https://www.sec.gov/Archives/edgar/data/1116132/000114036124047569/ef20039097_ex10-2.htm)[, Bank of America, N.A., as administrative agent, BofA Securities, Inc. and Morgan Stanley Senior Lending, Inc., as joint lead arrangers and the lenders party thereto, incorporated herein by reference from Exhibit 10.2 to the Registrant’s Current Report on Form 8-K filed on November 22, 2024](https://www.sec.gov/Archives/edgar/data/1116132/000114036124047569/ef20039097_ex10-2.htm) | | |

| 10.39 | | | | | | [Form of ASR Agreement, incorporated herein by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed with the SEC on November 22, 2024](https://www.sec.gov/Archives/edgar/data/1116132/000114036124047569/ef20039097_ex10-1.htm) | | |

| 10.40 | | | | | | [Amendment No. 2, dated as of December 20, 2024, to the Credit Agreement, dated as of May 11, 2022 (as amended by Amendment No. 1, dated as of August 30, 2023) among the](https://www.sec.gov/Archives/edgar/data/1116132/000111613225000005/exhibit104-tapestryxamendm.htm) [Registrant](https://www.sec.gov/Archives/edgar/data/1116132/000111613225000005/exhibit104-tapestryxamendm.htm)[, the lenders party thereto and Bank of America, N.A., as administrative agent, which is incorporated herein by reference from Exhibit 10.4 to the Registrant’s Quarterly Report on Form 10-Q filed on February 6, 2025](https://www.sec.gov/Archives/edgar/data/1116132/000111613225000005/exhibit104-tapestryxamendm.htm) | | |

| 10.41 | | | | | | [Credit Agreement dated as of May 22, 2025, among](https://www.sec.gov/Archives/edgar/data/1116132/000114036125020276/ef20049426_8k.htm) [the Registr](https://www.sec.gov/Archives/edgar/data/1116132/000114036125020276/ef20049426_8k.htm)[ant](https://www.sec.gov/Archives/edgar/data/1116132/000114036125020276/ef20049426_8k.htm)[, the foreign subsidiary borrowers from time to time party thereto, the lenders party thereto, and Bank of America, N.A., as administrative agent, which is incorporated herein by reference from Exhibit 10.1 to the Registrant’s Current Report on Form 8-K, filed on May 23, 2025](https://www.sec.gov/Archives/edgar/data/1116132/000114036125020276/ef20049426_8k.htm) | | |

| Date: August [removed: 14, 2025] [added: 13, 2026] | | | By: | | | /s/ Joanne C. Crevoiserat | | |

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities indicated below on August [removed: 14, 2025.][added: 13, 2026.]

| [Reports of Independent Registered Public Accounting Firm (PCAOB ID [removed: No.](#i7ec2d1210adb482a9885ce31be7f31a0_124)] [added: No.](#ieb174221d75a42d191a29dcd3a3a955e_121)] 34) | | | [removed: [60](#i7ec2d1210adb482a9885ce31be7f31a0_124)] [added: [62](#ieb174221d75a42d191a29dcd3a3a955e_121)] | | |

| [Consolidated Balance [removed: Sheets](#i7ec2d1210adb482a9885ce31be7f31a0_127)] [added: Sheets](#ieb174221d75a42d191a29dcd3a3a955e_124)] | | | [removed: [63](#i7ec2d1210adb482a9885ce31be7f31a0_127)] [added: [65](#ieb174221d75a42d191a29dcd3a3a955e_124)] | | |

| [Consolidated Statements of [removed: Operations](#i7ec2d1210adb482a9885ce31be7f31a0_130)] [added: Operations](#ieb174221d75a42d191a29dcd3a3a955e_127)] | | | [removed: [64](#i7ec2d1210adb482a9885ce31be7f31a0_130)] [added: [66](#ieb174221d75a42d191a29dcd3a3a955e_127)] | | |

| [Consolidated Statements of Comprehensive [removed: Income](#i7ec2d1210adb482a9885ce31be7f31a0_133)] [added: Income](#ieb174221d75a42d191a29dcd3a3a955e_130)] | | | [removed: [65](#i7ec2d1210adb482a9885ce31be7f31a0_133)] [added: [67](#ieb174221d75a42d191a29dcd3a3a955e_130)] | | |

| [Consolidated Statements of Stockholders’ [removed: Equity](#i7ec2d1210adb482a9885ce31be7f31a0_136)] [added: Equity](#ieb174221d75a42d191a29dcd3a3a955e_133)] | | | [removed: [66](#i7ec2d1210adb482a9885ce31be7f31a0_136)] [added: [68](#ieb174221d75a42d191a29dcd3a3a955e_133)] | | |