Tapestry, the parent company of Coach, reported its fiscal Q4 results for the year ending June 29, 2024. Revenue fell 2% YoY to $1.59 billion, slightly exceeding analysts’ forecast of $1.57 billion. Profit dropped 28.9% to $160 million, while the gross margin increased by 25 percentage points to 74.9%. By brand, Coach’s sales remained steady at $1.3 billion, Kate Spade declined 6% to $290 million, and Stuart Weitzman saw a significant drop of 19% to $50.6 million. By region, North American sales fell 1% to $1 billion, the Chinese market dropped 13% to $230 million, the Japanese market decreased 9% to $130 million, and European sales surged 26% to $923 million.