Welcome to our dedicated page for Capri Holdings news (Ticker: CPRI), a resource for investors and traders seeking the latest updates and insights on Capri Holdings stock.
Capri Holdings Limited (NYSE: CPRI) regularly issues news and regulatory updates that provide insight into its operations as a global fashion luxury group. Company communications highlight developments across its portfolio of iconic brands, with recent disclosures focusing on Michael Kors and Jimmy Choo and on the completed sale of subsidiaries operating the Versace business to Prada S.p.A. News items also reflect Capri Holdings’ emphasis on glamorous style, craftsmanship and fashion luxury positioning.
Visitors to this CPRI news page can review earnings announcements, guidance updates and commentary from Capri Holdings’ leadership on trends affecting its fashion luxury houses. The company’s press releases cover quarterly and annual financial results, including discussions of revenue trends, margins and strategic initiatives. Capri Holdings also announces key corporate actions, such as the decision to sell Versace-related subsidiaries, the classification of Versace as a discontinued operation and the completion of that transaction.
In addition to financial results and transaction-related news, Capri Holdings publishes notices about upcoming earnings release dates, conference calls and participation in investor conferences. These updates often include details on how to access live webcasts and replays. Other communications describe board-approved programs, such as a multi-year share repurchase authorization, and provide context on the company’s review of strategic priorities and its focus on Michael Kors and Jimmy Choo.
For investors and followers of the fashion luxury sector, this news stream offers a centralized view of Capri Holdings’ public announcements, from financial performance and capital allocation decisions to portfolio changes and shareholder communications. Checking this page allows readers to see how the company describes its progress on strategic initiatives and how it presents its fashion luxury brands in the context of its overall corporate strategy.
Capri Holdings (NYSE: CPRI) has announced a definitive agreement to sell Versace to Prada S.p.A. for $1.375 billion in cash. The transaction is expected to close in the second half of 2025, subject to regulatory approvals.
The strategic sale aims to strengthen Capri's balance sheet and fuel growth for its remaining brands, Michael Kors and Jimmy Choo. The transaction proceeds will support multiple capital allocation priorities, including:
- Business investments
- Debt reduction
- Future share repurchases
Barclays is serving as financial advisor, while Wachtell, Lipton, Rosen & Katz provides legal counsel for the transaction.
Capri Holdings (NYSE:CPRI) announced that Thomas J. Edwards, Jr., Executive Vice President, Chief Financial Officer and Chief Operating Officer, will depart the company on June 20, 2025. Rajal Mehta, current CFO of Michael Kors, will serve as Interim CFO, while Patricia Gabriel, Senior VP and Chief Supply Chain Officer, will continue leading global supply chain and operations.
Both Mehta and Gabriel will report to Chairman and CEO John D. Idol. Mehta brings 16 years of company experience, having joined Michael Kors in 2008, and previously held finance roles at Toys'R'Us and Ralph Lauren. The company has initiated a search for Edwards' permanent replacement and maintains confidence in its growth strategies outlined at their recent Investor Day.
Capri Holdings (NYSE:CPRI) announced significant leadership changes at Versace. Donatella Versace will transition from Chief Creative Officer to Chief Brand Ambassador effective April 1, 2025. In her new role, she will focus on supporting Versace's philanthropic initiatives while continuing as a global brand advocate.
Dario Vitale, former Design and Image Director at Miu Miu, has been appointed as Versace's new Chief Creative Officer, also effective April 1, 2025. The transition is part of a planned succession strategy for the luxury fashion house.
Donatella Versace, who has led the brand's creative vision since 1997, expressed enthusiasm for Vitale's appointment and gratitude to her team. She will remain closely connected to the brand, emphasizing that 'Versace is in my DNA.' Emmanuel Gintzburger, Versace's CEO, praised Donatella's nearly thirty-year contribution and expressed confidence in Vitale's ability to bring a fresh perspective while respecting the brand's essence.
Capri Holdings (NYSE:CPRI), a global fashion luxury group, announced its long-term financial targets during its 2025 Investor Day in New York City. CEO John D. Idol expressed optimism about the growth potential of the company's brands - Versace, Jimmy Choo, and Michael Kors - citing their enduring value and proven resilience in delivering revenue and earnings growth.
The company provided guidance on an adjusted, non-GAAP basis, noting that financial results could be materially affected by external factors including global macroeconomic conditions, inflationary pressures, consumer confidence changes, and foreign currency exchange rate fluctuations.
Capri Holdings (NYSE:CPRI) has announced the promotion of Philippa Newman to Chief Brand and Product Officer, effective immediately. In this expanded role, Newman will oversee all product and marketing functions, reporting to John D. Idol, Chairman and CEO of Capri Holdings and Michael Kors.
Newman, who has been with Michael Kors for over 16 years, previously served as Chief Product Officer. In her new position, she will focus on delivering a unified brand experience aligned with the company's heritage, ensuring product innovation and consumer engagement across all touchpoints.
The strategic leadership restructuring aims to create greater synergy by bringing product and marketing under one cohesive leadership structure, reinforcing Michael Kors' commitment to brand evolution and product innovation.
Capri Holdings (NYSE: CPRI) has announced plans to host an Investor Day on Wednesday, February 19, 2025 in New York City. The event will run from 1:00 p.m. ET to 3:30 p.m. ET, featuring presentations and a Q&A session with key leadership.
The program will include presentations from Chairman and CEO John Idol, CFO and COO Tom Edwards, along with executives from Versace, Jimmy Choo, and Michael Kors. While in-person attendance is invitation-only with required advance registration due to capacity, a live video broadcast will be available on the company's Investor Relations website at www.capriholdings.com, with a replay option available after the event.
Capri Holdings (NYSE:CPRI) reported disappointing third quarter fiscal 2025 results, with revenue declining 11.6% to $1.26 billion. The company experienced challenges across all brands, with Versace revenue down 15.0%, Jimmy Choo down 4.2%, and Michael Kors down 12.1%.
The quarter saw a significant loss from operations of $590 million, primarily due to a non-cash impairment charge of $675 million. Adjusted earnings per share were $0.45, down from $1.20 in the prior year. The company's gross margin declined to 64.4%, while inventory levels decreased by 13% compared to the previous year.
Looking ahead, Capri Holdings expects fiscal 2025 total revenue of approximately $4.4 billion and projects fiscal 2026 revenue to decline further to $4.1 billion. Management is reevaluating strategic initiatives to improve sales trends, anticipating performance improvement throughout fiscal 2026 and a return to growth in fiscal 2027.
Capri Holdings (NYSE: CPRI) has announced it will release its third quarter fiscal 2025 financial results on Wednesday, February 5, 2025, at approximately 6:45 a.m. ET. The company will host a conference call to discuss these results at 8:30 a.m. ET on the same day.
Interested parties can participate by dialing (877) 704-4453 or (201) 389-0920 for international callers, using conference ID 13750496. A live webcast will be available on the company's website. A replay of the call will be accessible until February 12, 2025, via phone and webcast.
Capri Holdings announced a leadership reorganization at Michael Kors. John D. Idol, Chairman and CEO of Capri Holdings, will assume the role of Michael Kors CEO. Philippa Newman, who has been with the company for over 14 years, will be promoted to Chief Product Officer effective December 2, 2024. In her new role, Newman will oversee merchandising, production, licensing, and design across all product categories. The reorganization includes expense reduction initiatives, leading to the departure of Cedric Wilmotte. The company aims to stabilize revenues, improve store productivity, and return the wholesale business to growth.
Capri Holdings (NYSE:CPRI) announced the mutual termination of its merger agreement with Tapestry, Inc., as required U.S. regulatory approvals were unlikely to be met by February 10, 2025. The company unveiled strategic initiatives focused on returning to growth across its three luxury houses: Versace, Jimmy Choo, and Michael Kors. The strategy includes enhancing brand desirability, product development, and omni-channel experience. Michael Kors plans to reduce its store fleet to approximately 650 locations, while Versace and Jimmy Choo will maintain their current store counts at around 230 and 220 stores respectively. The company will host an Investor Day in late February 2025 to provide detailed financial prospects.