BUZZ-Tapestry rises to over ten-year high after $2 bln accelerated share buyback plan

Reuters01:02
BUZZ-Tapestry rises to over ten-year high after $2 bln accelerated share buyback plan

Updates

** Shares of Coach parent Tapestry TPR.N rise 3.9% to $58.61

** Stock rises to a more than ten-year high

** Company announces accelerated share repurchase $(ASR)$ agreements with Bank of America and Morgan Stanley

** TPR plans to repurchase $2 bln worth of common stock

** The ASRs will be completed under the company’s recently expanded $2.8 billion share repurchase authorization - TPR

** Company expects to return over 100% of its free cash flow to shareholders in fiscal 2025 through dividends and share repurchases

** ASR agreements expected to settle by Q1 of fiscal 2026, ending September 27, 2025 - company

** Including session's move, stock up about 59% YTD

(Reporting by Ragini Mathur in Bengaluru)

((Ragini.Mathur@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment