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.
Tapestry (NYSE: TPR) and Capri Holdings have mutually agreed to terminate their merger agreement, citing uncertainty in the legal process and unlikely resolution by February 2025. In response, Tapestry announced a new $2 billion share repurchase authorization, including a planned Accelerated Share Repurchase program. The company will maintain its annual dividend rate of $1.40 per share in Fiscal 2025 and redeem $6.1 billion in acquisition-related senior notes. Tapestry agreed to reimburse Capri's transaction expenses of approximately $45 million. The company reaffirmed its Fiscal 2025 outlook and emphasized its commitment to organic growth and shareholder value creation.
Capri Holdings (NYSE:CPRI) announced its second quarter fiscal 2025 results, ending September 28, 2024. The company reported a 16.4% revenue decrease to $1.08 billion, with an adjusted operating margin of 3.0% and adjusted earnings per share of $0.65. CEO John D. Idol noted the impact of softening global demand for luxury goods. The company added 10.9 million new consumers across its brands, a 13% increase from last year. Despite the challenging environment, Capri is focused on long-term growth.
Key brand performances include:
- Versace: Revenue down 28.2%, operating loss of $3 million.
- Jimmy Choo: Revenue up 6.1%, operating loss of $5 million.
- Michael Kors: Revenue down 16.0%, operating income of $87 million.
Capri is appealing a District Court decision that enjoined its acquisition by Tapestry pending an FTC administrative proceeding.
Capri Holdings (NYSE:CPRI) announced its intention to jointly file with Tapestry, Inc. a notice of appeal to the U.S. Court of Appeals for the Second Circuit. This appeal challenges the U.S. District Court for the Southern District of New York's decision to grant the Federal Trade Commission's motion for a preliminary injunction that blocks Tapestry's pending acquisition of Capri Holdings.
Capri Holdings (NYSE:CPRI) has announced its intention to file a joint notice of appeal with Tapestry, Inc. This action comes in response to the U.S. District Court for the Southern District of New York's decision to grant the U.S. Federal Trade Commission's motion for a preliminary injunction, which blocks Tapestry's pending acquisition of Capri Holdings. The appeal will be filed with the U.S. Court of Appeals for the Second Circuit, in accordance with the merger agreement requirements.
Tapestry (NYSE: TPR) has responded to a U.S. District Court ruling that granted the FTC's request for a preliminary injunction regarding its proposed acquisition of Capri Holdings (NYSE: CPRI). The company expressed disappointment with the decision, stating it believes the ruling is incorrect on both legal and factual grounds. Tapestry, which owns Coach, kate spade new york, and Stuart Weitzman brands, argues that the industry is highly competitive, dynamic, and fragmented. The company has announced its intention to appeal the decision in accordance with the merger agreement terms.
Capri Holdings (NYSE: CPRI) has announced it will release its second quarter fiscal 2025 financial results on Thursday, November 7, 2024, after market close. The company will issue a press release but will not conduct conference calls to discuss the results due to its pending acquisition by Tapestry, Inc.
Capri Holdings (NYSE:CPRI) reported a 13.2% decrease in revenue for Q1 Fiscal 2025 compared to last year, totaling $1.07 billion. Adjusted operating margin stood at 1.5%, and adjusted earnings per share were $0.04. CEO John D. Idol acknowledged the disappointing results, attributing them to weak global demand for luxury goods. The company added 12.6 million new consumers across its brands. Despite challenges, Capri remains focused on its strategic initiatives and its pending acquisition by Tapestry, which faced an FTC lawsuit. Versace, Jimmy Choo, and Michael Kors all experienced revenue declines. Versace saw a 15.4% drop in revenue, Jimmy Choo's revenue fell by 5.5%, and Michael Kors' revenue decreased by 14.2%. Net loss was $14 million, compared to net income of $48 million the previous year. Cash flow from operations was $83 million, and net debt decreased to $1.50 billion.
Capri Holdings (NYSE: CPRI) has announced its plan to report first quarter fiscal 2025 financial results on Thursday, August 8, 2024, after market close. The report will be released via press release. Notably, due to the pending acquisition by Tapestry, Inc., Capri Holdings will not be holding conference calls to review its financial results in the future. This change in reporting practice marks a significant shift in the company's investor communication strategy, likely influenced by the ongoing acquisition process.
Capri Holdings (NYSE:CPRI) reported its Q4 and full-year fiscal 2024 results, ending March 30, 2024. Total revenue declined 8.4% YoY to $1.223 billion, with a 7.9% decrease in constant currency. Adjusted EPS was $0.42. The retail channel saw mid-single-digit declines, while wholesale revenue dropped by high teens, influenced by weakened global demand for luxury fashion goods. Gross profit was $767 million at a margin of 62.7%, down from 64.9% last year.
Net loss reached $472 million, or $(4.03) per share, impacted by non-cash impairments. Adjusted net income was $50 million, or $0.42 per share. Cash flow from operations was $44 million, with free cash flow showing a $6 million outflow. For the full year, cash flow from operations totaled $309 million.
The Federal Trade Commission (FTC) has filed a lawsuit to block Capri's acquisition by Tapestry, which Capri plans to contest. No financial guidance was provided due to the pending merger.
Capri Holdings (NYSE: CPRI) announced it will report its fourth quarter and fiscal year 2024 financial results on May 29, 2024, after market close. The company will release the results via press release and will not hold conference calls for future financial results due to its pending acquisition by Tapestry.