Ac t i o n | 14 Aug 2026 01:45:25 ET │ 13 pages Tapestry (TPR.N) A Still-Impressive (and Durable) Growth Story, Even If at a Slower Rate CITI'S TAKE Should the TPR narrative be 'decelerating growth' or 'still-impressive' (durable) growth? Coach brand sales were +15% in 4Q (vs 3Q +29%), and were guided +low-teens in 1Q (which implies a 2-yr stack accel to +37% vs +30% in 4Q) and +HSD for F27. And with the mkt focused on Coach NAM specifically (guided +MSD for 1Q and F27), the 'decelerating growth' narrative ...