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 reports developments for a global fashion luxury group built around Michael Kors and Jimmy Choo. Company news centers on quarterly and fiscal results, brand performance, executive appointments, consumer and retail conference participation, and strategic updates following the completed sale of Versace.
Updates also describe product and brand priorities across fashion luxury categories, including handbags, footwear, apparel and accessories, as well as balance-sheet actions, debt reduction and capital-allocation plans tied to the company’s remaining luxury-brand portfolio.
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.
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