TAPESTRY, INC. (TPR) Risk Factors

Recent key developments

Concrete developments — dated events, named agreements and instruments, legal proceedings — that TAPESTRY, INC. surfaced in its latest filing.

• U.S. presidential administration change in January 2025 led to significant reform in trade policy.January 2025
• The company recently completed the sale of the Stuart Weitzman Business.
• In fiscal year 2025, the Company issued $1.50 billion of senior unsecured notes, consisting of $750.0 million of 5.100% senior unsecured notes due March 11, 2030 and $750.0 million of 5.500% senior unsecured notes due March 11, 2035.fiscal year 2025
• Refinanced and replaced the existing unsecured revolving facility with a $2.00 billion Amended Revolving Credit Facility dated May 22, 2025, maturing May 22, 2030.May 22, 2025
• On August 16, 2022, the Inflation Reduction Act of 2022 was signed into law, implementing a 15% CAMT and a 1% excise tax on share repurchases.August 16, 2022
• E.U. member states reached an agreement to implement the OECD's Global Anti-Base Erosion Rules (GloBE), imposing a 15% global minimum tax effective January 1, 2025.January 1, 2025
• On June 26, 2025, the U.S. Treasury reached an agreement with other G7 countries regarding the application of GloBE rules to U.S. MNEs, including a full exclusion from the Undertaxed Profits Rule and Income Inclusion Rule.June 26, 2025
• On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) was enacted, including repeal of mandatory capitalization of R&D expenditures, permanent extension of 100% bonus depreciation, and revisions to international tax regimes.July 4, 2025
• Quarterly cash dividend of $0.35 per common share, annual rate of $1.40 per share, totaling $299.3 million in fiscal 2025.fiscal 2025
• November 24, 2024 entry into ASR agreements to repurchase $2.00 billion of common stock.November 24, 2024
• Has $800.0 million remaining under its previous share repurchase authorization.