Tapestry, Inc. Completes Sale of Stuart Weitzman Brand to Caleres
Advisors
Morgan Stanley & Co. LLC served as Tapestry, Inc.鈥檚 financial advisor and Latham & Watkins LLP was its legal advisor. BofA Securities served as Caleres鈥檚 financial advisor and BCLP (Bryan Cave Leighton Paisner) was its legal advisor.
About Tapestry, Inc.
Our global house of brands unites the magic of Coach and kate spade new york. Each of our brands are unique and independent, while sharing a commitment to innovation and authenticity defined by distinctive products and differentiated customer experiences across channels and geographies. We use our collective strengths to move our customers and empower our communities, to make the fashion industry more sustainable, and to harness the power of a culture of inclusion and belonging. Individually, our brands are iconic. Together, we can stretch what鈥檚 possible. To learn more about Tapestry, please visit . For important news and information regarding Tapestry, visit the Investor Relations section of our website at . In addition, investors should continue to review our news releases and filings with the SEC. We use each of these channels of distribution as primary channels for publishing key information to our investors, some of which may contain material and previously non-public information. The Company鈥檚 common stock is traded on the New York Stock Exchange under the symbol TPR.
About Stuart Weitzman
Since 1986,
About Caleres
Caleres is a market-leading portfolio of global footwear brands that includes Famous Footwear, Sam Edelman, Allen Edmonds, Naturalizer, Vionic, and more. Our products are available virtually everywhere - in the nearly 1,000 retail stores we operate, in hundreds of major department and specialty stores, on our 15 branded e-commerce sites, and on many additional third-party retail websites. Combined, these brands make Caleres a company with both a legacy and a mission. Our legacy is our more than 140 years of craftsmanship and our passion for fit, while our mission is to continue to inspire people to feel great鈥� feet first. Visit to learn more about us.
This Press Release may contain forward-looking statements based on management鈥檚 current expectations. Forward-looking statements include, but are not limited to, statements regarding the Company鈥檚 capital deployment plans, including anticipated share repurchase plans, and statements that can be identified by the use of forward-looking terminology such as 鈥渕ay,鈥� 鈥渃an,鈥� 鈥渋f,鈥� 鈥渃ontinue,鈥� 鈥渁ssume,鈥� 鈥渟hould,鈥� 鈥渆xpect,鈥� 鈥渃onfidence,鈥� 鈥済oals,鈥� 鈥渢rends,鈥� 鈥渁nticipate,鈥� 鈥渋ntend,鈥� 鈥渆stimate,鈥� 鈥渙n track,鈥� 鈥渇uture,鈥� 鈥減lan,鈥� 鈥渄eliver,鈥� 鈥減otential,鈥� 鈥減osition,鈥� 鈥渂elieve,鈥� 鈥渨ill,鈥� 鈥渢arget,鈥� 鈥済uidance,鈥� 鈥渇orecast,鈥� 鈥渙utlook,鈥� 鈥渃ommit,鈥� 鈥渓everage,鈥� 鈥済enerate,鈥� 鈥渆nhance,鈥� 鈥渋nnovation,鈥� 鈥渄rive,鈥� 鈥渆ffort,鈥� 鈥減rogress,鈥� 鈥渃onfident,鈥� 鈥渦ncertain,鈥� 鈥渁chieve,鈥� 鈥渟trategic,鈥� 鈥済rowth,鈥� 鈥渨e can stretch what鈥檚 possible,鈥� similar expressions, and variations or negatives of these words. Future results may differ materially from management鈥檚 current expectations, based upon a number of important factors, including risks and uncertainties such as the effect of the announcement of the announced transaction to sell the Stuart Weitzman business on the ability of the Company to retain and hire key personnel and maintain relationships with customers, suppliers and others with whom the Company or the Stuart Weitzman business do business, or on the Company鈥檚 or the Stuart Weitzman business鈥檚 operating results and business generally; risks that the transaction disrupts current plans and operations and the potential difficulties in employee retention as a result of the transaction; the outcome of any legal proceedings related to the transaction; the ability of the parties to consummate the transaction on a timely basis or at all; the satisfaction of the conditions precedent to consummation of the Transaction; business disruption following the Transaction, the impact of economic conditions, recession and inflationary measures, risks associated with operating in international markets and our global sourcing activities, the ability to anticipate consumer preferences and retain the value of our brands, including our ability to execute on our e-commerce and digital strategies, the impact of tax and other legislation, the risks associated with potential changes to international trade agreements and the imposition of additional duties on importing our products, the ability to successfully implement the initiatives under our 2025 growth strategy, the effect of existing and new competition in the marketplace, the effect of seasonal and quarterly fluctuations on our sales or operating results, the risk of cybersecurity threats and privacy or data security breaches, our ability to satisfy our outstanding debt obligations or incur additional indebtedness, the risks associated with climate change and other corporate responsibility issues, our ability to protect against infringement of our trademarks and other proprietary rights, and the impact of pending and potential future legal proceedings, etc. In addition, purchases of shares of the Company鈥檚 common stock will be made subject to market conditions and at prevailing market prices. Please refer to the Company鈥檚 latest Annual Report on Form 10-K, latest Quarterly Report on Form 10-Q and its other filings with the Securities and Exchange Commission for a complete list of risks and important factors. The Company assumes no obligation to revise or update any such forward-looking statements for any reason, except as required by law.
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Tapestry, Inc.
Analysts and Investors:
Christina Colone
Global Head of Investor Relations
212/946-7252
[email protected]
Media:
Jennifer Leemann
Global Head of Communications
212/631-2797
[email protected]
Caleres
Analysts and Investors:
Liz Dunn
SVP Corporate Development and Strategic Communications
[email protected]
Media:
Kelly
VP Corporate Communications
[email protected]
Source: Tapestry, Inc.
