6 unchanged sentences
Performance Graph
−Removed: The following graph compares the cumulative total stockholder return (assuming reinvestment of dividends) of the Company's common stock with the cumulative total return of the Standard & Poor's ("S&P") 500 Stock Index and the “peer set" companies listed below over the five-fiscal-year period ending July 3, 2021, the last day of Tapestry’s most recent fiscal year.
−Removed: The graph assumes that $100 was invested on July 2, 2016 at the per share closing price in each of Tapestry’s common stock, the S&P 500 Stock Index and a peer set index tracking the peer group companies listed below, and that all dividends were reinvested.
+Added: The following graph compares the cumulative total stockholder return (assuming reinvestment of dividends) of the Company's common stock with the cumulative total return of the Standard & Poor's ("S&P") 500 Stock Index and the S&P 500 Apparel, Accessories & Luxury Goods Index over the five-fiscal-year period ending July 2, 2022, the last day of Tapestry’s most recent fiscal year.
+Added: The graph assumes that $100 was invested on July 1, 2017 at the per share closing price in each of Tapestry’s common stock, the S&P 500 Stock Index and the S&P 500 Apparel, Accessories & Luxury Goods Index, and that all dividends were reinvested.
The stock performance shown in the graph is not intended to forecast or be indicative of future performance.
+Added: During fiscal 2022, the Company moved to using the S&P 500 Apparel, Accessories & Luxury Goods Index.
+Added: The Company's old peer group consisted of:
• L Brands, Inc.
+Added: (subsequent to August 2, 2021, Bath and Body Works, Inc.)
• Ralph Lauren Corporation
1 unchanged sentence
• Capri Holdings Limited
+Added: Tapestry management selected the S&P 500 Apparel, Accessories & Luxury Goods Index on an industry/line-of-business basis and believes this updated index represents good faith comparables based on their history, size, and business models in relation to Tapestry, Inc.
Fiscal 2017 Fiscal 2018 Fiscal 2019 Fiscal 2020 Fiscal 2021 Fiscal 2022
TPR $100.00 $101.68 $71.66 $29.59 $100.57 $74.54
−Removed: Peer Set $100.00 $95.69 $132.10 $141.16 $114.90 $217.56
+Added: S&P 500 Apparel, Accessories & Luxury Goods $100.00 $128.77 $113.77 $62.77 $120.39 $70.14
+Added: Former Set $100.00 $138.05 $147.52 $120.08 $227.37 $162.44
S&P 500 $100.00 $114.37 $126.29 $131.74 $193.63 $172.67
Stock Repurchase Program
−Removed: The Company did not repurchase any shares of common stock during the fourth quarter of fiscal 2021.
−Removed: As of July 3, 2021, the Company had $600 million availability remaining in the stock repurchase program.
−Removed: The Company may terminate or limit the share repurchase program at any time.
−Removed: The Company is restricted from engaging in share buybacks during the Covenant Relief Period under Amendment No.1 to its Credit Facility.
−Removed: SELECTED FINANCIAL DATA
−Removed: Not applicable as the Company has adopted certain provisions within the amendments to Regulation S-K, including the elimination of Item 301.
+Added: The Company's share repurchases during the fourth quarter of fiscal 2022 were as follows:
+Added: Fiscal Period Total Number of Shares Repurchased Average Price per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (1)
+Added: Approximate Dollar Value of Shares that May Yet be Purchased Under the Plans or Programs (1)
+Added: (in millions, except share data and per share data)
+Added: April 3, 2022 - May 7, 2022 — $ — — $ —
+Added: May 8, 2022 - June 4, 2022 6,429,521 32.69 6,429,521 1,640.0
+Added: June 5, 2022 - July 2, 2022 4,254,968 32.90 4,254,968 1,500.0
+Added: Total 10,684,489 10,684,489
+Added: (1) On November 11, 2021, the Company announced the Board of Directors authorized a common stock repurchase program to repurchase up to $1.00 billion of its outstanding common stock (the "2021 Share Repurchase Program").
+Added: On May 12, 2022, the Company announced that its Board of Directors authorized the additional repurchase of up to $1.50 billion of its outstanding common stock (the "2022 Share Repurchase Program").
+Added: This authorization is incremental to the Company's existing authorization.
+Added: Purchases of the Company's common stock were executed through open market purchases, including through purchase agreements under Rule 10b5-1.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.