Tapestry Inc reported QQ3 2024 revenue of $1.4824 billion, down 2.0% year over year, with a robust gross margin of 72.8% but a material drop in operating income and net income versus the prior year. The quarter delivered a solid gross profit of approximately $1.107 billion, underscoring pricing power and mix benefits from Coach, Kate Spade, and Stuart Weitzman, even as SG&A and other operating costs rose, contributing to a 19.3% year-over-year decline in operating income and a 28.5% drop in net income. Despite profit pressure, the company preserved positive free cash flow of $78.8 million, supported by a substantial liquidity position (cash and equivalents around $6.98 billion) and a net debt position of approximately $2.29 billion after financing activity. Management commentary on near-term demand and margin trajectory was not provided in the dataset, but the quarterly metrics imply ongoing brand strength and resilience in a softer luxury environment.