Tapestry (TPR) Revenue — Quarter Ended Apr 1, 2023
Revenue declined from the prior quarter but rose compared with the same quarter a year earlier. The sequential drop followed a larger decrease in the preceding period, while the year-over-year gain reversed a prior decline.
Key takeaway
Quarter ended Apr 1, 2023 · FY2023 Q3
Revenue declined from the prior quarter but rose compared with the same quarter a year earlier. The sequential drop followed a larger decrease in the preceding period, while the year-over-year gain reversed a prior decline.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$1.5B
Revenue reported for this quarter.
Quarter-over-quarter
-25.5%
Change from the immediately preceding quarter.
Year-over-year
+5.0%
Change from the comparable year-ago quarter.
Trailing four quarters
$6.7B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jul 2, 2022 | $1.6B | +0.6% |
| Oct 1, 2022 | $1.5B | +1.7% |
| Dec 31, 2022 | $2B | -5.4% |
| Apr 1, 2023 | $1.5B | +5.0% |
Revenue performance
Reported revenue for the quarter was lower than the immediately preceding quarter, marking a second consecutive sequential decline. The year-over-year comparison showed an increase, contrasting with the prior year's same-quarter performance.
Quarterly comparison
Compared with the prior quarter, revenue decreased, following a larger sequential drop in the earlier period. Versus the same quarter one year ago, revenue rose, reversing a decline seen in the prior year's comparable period.
What to watch
The sequential revenue decline warrants attention, particularly given the prior quarter's larger drop and the absence of explanatory context in the filing.