Tapestry expects to fully mitigate the impact of current U.S. tariffs by fiscal year 2028, executives said at its investor day on Wednesday, as the retailer announced plans to buy back shares worth $3 billion during that period.

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The company, whose leather handbags and accessories under labels such as Coach and Kate Spade are made in countries including Vietnam, Cambodia, and India, is in line to bear the costs of U.S. President Donald Trump 's tariffs.

Tariffs are set to cost the company about $160 million in fiscal 2026, Tapestry had warned last month, adding that levies would particularly hurt the Kate Spade brand.

"We would continue to make progress and in fact grow gross and operating margins in FY27 and beyond, and we will fully mitigate the impacts of tariffs t

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