Tapestry, Inc. management check
TPR · Consumer Discretionary · Apparel, Accessories & Luxury Goods · CEO Joanne Crevoiserat
Filings as of
5 good · 2 to watch · 0 flagged, across the seven questions below.
- Good
Have owners done well?
Beat its chosen peers$100 invested at the start of fiscal 2022 grew to $390, against $58 for the peer group the company picked itself.
- Good
Does pay follow performance?
Pay rose and fell with returnsOver 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 1.00 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- Watch
What does the CEO cost owners?
2.2% of net income$34.0m of reported pay in fiscal 2026, against $1.5bn of net income.
- Watch
Do they own the stock?
CEO stake ≈ 3.3 years of payThe CEO holds 848,789 shares, directly or through trusts (unvested awards not counted): about 3.3 years of pay. 3 insiders sold $10.8m in the last six months and none bought. 4 of 7 sales ran on pre-arranged 10b5-1 plans.
- Good
Are owners being diluted?
Share count shrinkingDiluted shares changed -6.7% a year over the last three fiscal years. Stock-based pay was 1.3% of revenue in the latest year.
- Good
Is leadership stable?
5 leadership filings in 3 yearsCEO in the pay table: Joanne Crevoiserat. 5 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Good
Are the books clean?
No red flags on fileNo restatements, auditor changes or late filings since 2021.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Consumer Discretionary.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 100 | 70 | |
| Pay for performance | 100 | 79 | |
| CEO cost | 21 | 44 | |
| Skin in the game | 41 | 36 | |
| Dilution | 100 | 74 | |
| Stable leadership | 100 | 80 | |
| Clean books | 100 | 100 |
Closest peers
Others in Apparel, Accessories & Luxury Goods, by management score. Tapestry, Inc. is 6th of 47 in its sector.
- 38GMGeneral Motors83
- 46LULULululemon Athletica81
- 52TPRTapestry, Inc.80
- 54LOWLowe's80
- 106RLRalph Lauren Corporation76
- 437NKENike, Inc.48
Pay versus performance
From the proxy statement filed September 25, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2026 | Joanne Crevoiserat | $34.0m | $134.5m | $5.6m | $390 | $58 | $1.5bn |
| 2025 | Joanne Crevoiserat | $17.3m | $77.7m | $5.1m | $229 | $51 | $183.0m |
| 2024 | Joanne Crevoiserat | $15.4m | $16.3m | $4.6m | $110 | $51 | $816.0m |
| 2023 | Joanne Crevoiserat | $14.5m | $21.9m | $3.9m | $106 | $58 | $936.0m |
| 2022 | Joanne Crevoiserat | $13.7m | $8.3m | $4.3m | $74 | $61 | $856.0m |
Its other key measures: Net Sales, Operating Income, Gross Margin, Return on Invested Capital, Relative Total Shareholder Return.
Insiders and the CEO's stake
Joanne C. Crevoiserat (Chief Executive Officer) held 848,789 shares directly after their latest Form 4 on Aug 21, 2026, roughly $110.5m at that filing's price.
3 insiders sold $10.8m in the last six months and none bought. 4 of 7 sales ran on pre-arranged 10b5-1 plans.
- SoldJoanne C. CrevoiseratChief Executive Officer · 10b5-1 plan$7.4mAug 19, 2026
- SoldTodd KahnCEO and Brand President, Coach$2.7mMay 26, 2026
- SoldDenise KulikowskyChief People Officer$670kSep 9, 2026
Leadership and governance on file
- Apr 6, 2026Leadership change8-K 5.02
- Sep 19, 2025Leadership change8-K 5.02
- Aug 20, 2025Leadership change8-K 5.02
- Aug 1, 2024Leadership change8-K 5.02
- Feb 29, 2024Leadership change8-K 5.02
- Sep 19, 2023Leadership change8-K 5.02
- May 19, 2023Leadership change8-K/A 5.02
- Apr 13, 2023Leadership change8-K 5.02
- Aug 4, 2022Leadership change8-K 5.02
- Nov 5, 2021Leadership change8-K 5.02
Latest shareholder vote results: Nov 14, 2025, including the say-on-pay vote.
Where the money went
Over 2021–2025: $6.7bn returned to owners in buybacks and dividends, 156% of net income, and $406.9m of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $5.7bn | $6.7bn | $6.7bn | $7.0bn | $8.0bn |
| Net income | $834.2m | $856.0m | $936.0m | $183.0m | $1.5bn |
| Stock-based pay | $64.1m | $72.2m | $78.8m | $87.3m | $104.5m |
| Buybacks | $0 | $1.6bn | $703.5m | $1.7bn | $1.6bn |
| Dividends | $0 | $264.4m | $283.3m | $299.3m | $326.1m |
| Diluted shares | 283m | 270m | 241m | 223m | 210m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.