On the evening of August 15th, Tapestry, Inc., a subsidiary of Tapestry Group, announced its fourth quarter and full year performance as of June 29, 2024. Calculated at a fixed exchange rate, the group's sales for the full fiscal year 2024 increased by 1% to $6.67 billion, with Coach Coach brand sales reaching a record high of over $5 billion.
Calculated at a fixed exchange rate, the international business revenue of the group in fiscal year 2024 increased by 6% year-on-year, with Europe growing by 14%, other regions of Asia growing by 9%, Japan growing by 5%, and the Chinese market growing by 3%; Sales in North America decreased by 1%, benefiting from an increase in gross profit margin, resulting in a year-on-year increase in operating profit margin and profit amount in the region.
In the fourth fiscal quarter, Coach's sales remained unchanged at $1.3 billion; Kate Spade's sales decreased by 6% to $290 million; Stuart Weitzman's sales decreased by 19% to $50.6 million. Divided by region, sales in North America decreased by 1%; The Greater China region has decreased by 13%; Japan fell 9%; Sales in Europe increased by 26%, offsetting some of the decline.