Tapestry CEO and CFO Sell $11M After Earnings Beat
Five Tapestry executives including CEO Joanne Crevoiserat and CFO Scott Roe sold $18.15 million in combined stock this week after the company posted its fourth consecutive earnings beat and shares jum
Tapestry CEO and CFO Sell $11M in Week After Earnings Beat
NEW YORK, November 14 —
In the week after Tapestry, Inc. (TPR) posted its fourth straight earnings beat and shares jumped 7.1%, five senior executives (including CEO Joanne Crevoiserat and CFO Scott Roe) sold a combined $18.15 million in open-market stock at $132 to $136. Analyst consensus is $163.55, a 23.5% premium to those exit prices.
- CFO Scott Roe sold 54,644 shares (~$7.4M) on Nov 10; CEO Crevoiserat sold 27,762 shares (~$3.68M) on Nov 11.
- Q1 FY2027 results: EPS $1.82 vs. $1.56 estimate, a 16.6% beat and the fourth straight upside quarter.
- TTM revenue $8.19B, up 11.1% year over year; gross margin 77.1%; forward P/E 14.4x.
The Franchise That Built the Bull Case
Tapestry operates two brands, Coach and Kate Spade, selling handbags, small leather goods, footwear, outerwear, and accessories across North America, Greater China, and the rest of Asia through retail, outlet, and digital channels. At 77.1% gross margin on $8.19 billion in trailing revenue, the company sits in the accessible-luxury tier: below the European mega-houses in average price, above mass retail in brand attachment. Free cash flow reached $1.37 billion over that period. Four consecutive EPS beats, ranging from 3.1% to 27.7%, have pushed shares up 27.6% over the past year against the S&P 500's 10.8%.
Three Names That Didn't Exercise Options
The CEO and CFO sales took the exercise-and-sell form: options granted at strike prices of $15.83 to $40.58, converted and immediately sold at $132 to $136, a structure common in executive equity management and often pre-scheduled well in advance. CFO Roe exercised at $33.81, $40.58, and $35.41 on November 10; CEO Crevoiserat exercised at $20.97 and $15.83 on November 11. Neither mechanic applied to Coach brand CEO Todd Kahn, Chief Legal Officer David Howard, and Chief People Officer Denise Kulikowsky, who collectively sold more than $7 million on November 9 in straight open-market transactions.
| Ticker | Mkt cap | Fwd P/E | 52-wk |
|---|---|---|---|
| TPR | $26.0B | 14.4x | +30.6% |
| CPRI | $2.2B | 8.5x | -1.1% |
| PVH | $4.3B | 7.5x | +20.0% |
| RL | $22.8B | 18.3x | +16.5% |
| LKQ | $4.9B | 8.3x | -36.3% |
| ROST | $74.0B | 25.7x | +44.3% |
What Q2 Answers
The analyst consensus of $163.55 against a current price of $132.41 rests on consistent execution. The DCF calculator can frame the required growth rate, given $4.25 billion in total debt against $780 million in cash. The checkpoint: Q2 fiscal 2027, when Tapestry either extends the beat streak to five consecutive quarters or records its first miss in that run. That print retroactively frames the November selling as either pre-planned option liquidation on a fixed schedule, or a read on the ceiling from five executives with the fullest view of the business. Run the free Tapestry, Inc. deep-dive →
Basis Report is independent research for informational purposes. It is not investment advice and not a recommendation to buy or sell any security.
Frequently Asked Questions
Tapestry executives sold stock after earnings beat?
Yes, five senior executives including CEO Joanne Crevoiserat and CFO Scott Roe sold $18.15 million in combined shares in the week following Q1 results. CFO Roe sold 54,644 shares (~$7.4M) on November 10; CEO Crevoiserat sold 27,762 shares (~$3.68M) on November 11.
How much did Tapestry CEO and CFO sell?
CEO Crevoiserat sold $3.68 million and CFO Roe sold $7.4 million, for a combined $11.08 million. Both executives exercised stock options at strike prices ranging from $15.83 to $40.58, then immediately sold at $132 to $136 per share.
Did Tapestry beat earnings?
Yes, Tapestry posted Q1 FY2027 earnings of $1.82 per share versus a $1.56 estimate, a 16.6% beat — the fourth consecutive quarter of earnings beats. Trailing twelve-month revenue was $8.19 billion, up 11.1% year over year, with a gross margin of 77.1%.
What's analyst consensus on Tapestry stock?
Analyst consensus is $163.55 per share, a 23.5% premium to the $132-$136 range at which executives sold. The company generated $1.37 billion in free cash flow over the trailing twelve months.
What brands does Tapestry operate?
Tapestry operates Coach and Kate Spade, selling handbags, small leather goods, footwear, outerwear, and accessories across North America, Greater China, and the rest of Asia through retail, outlet, and digital channels.
Four to six days after Tapestry posted its fourth consecutive earnings beat and the stock jumped 7.1%, five of the company's top executives sold a combined $18.15 million in open-market shares — including the CEO and CFO, who accounted for $11 million of that total on November 10–11. Wall Street analysts, meanwhile, have a consensus price target of $163.55, implying 23.5% further upside from current levels.