Tapestry Aktie News

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The news comes just months after a federal judge blocked Tapestry's planned $8.5 billion acquisition of Michael Kors parent Capri Holdings Ltd.

Coach parent Tapestry will sell the Stuart Weitzman brand to Dr Scholl's footwear owner Caleres for $105 million in cash, the companies said on Wednesday.

NEW YORK--(BUSINESS WIRE)--Tapestry, Inc. (NYSE: TPR), a house of iconic accessories and lifestyle brands, today announced that it entered into a definitive agreement to sell the Stuart Weitzman brand to Caleres (NYSE: CAL), a market-leading portfolio of consumer-driven footwear brands, for $105 million in cash, subject to customary adjustments. “Stuart Weitzman is an iconic global footwear bra...

ST. LOUIS--(BUSINESS WIRE)--Caleres (NYSE: CAL), a market-leading portfolio of consumer-driven footwear brands, today announced it has signed a definitive agreement to acquire Stuart Weitzman from Tapestry, Inc. (NYSE: TPR), a house of iconic accessories and lifestyle brands, for $105 million, subject to customary adjustments. The acquisition cements Caleres' leadership position in women's fash...

Note: Tapestry's FY'24 ended on June 29, 2024.

Tapestry has shown strong financial performance as of late, led by its flagship Coach brand. The company focuses on digital expansion, Gen-Z engagement, and growth in China, enhancing its long-term prospects and market positioning. TPR's material share buybacks and well-covered dividend support robust total return potential for investors.