Tapestry, Inc., parent company of Coach and Kate Spade, plans to repurchase $2 billion of its own stock.

Tapestry, Inc., the parent company of Coach, Kate Spade, and Stuart Weitzman, has agreed to repurchase $2 billion of its stock through an Accelerated Share Repurchase program with Bank of America and Morgan Stanley. This move is part of their plan to return over 100% of free cash flow to shareholders in fiscal 2025. Tapestry will fund the repurchases with a mix of borrowing and cash, with an initial delivery of 28.4 million shares expected on November 26. The final settlement is set for the first quarter of fiscal 2026.

November 22, 2024
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