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.
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Capri Holdings (NYSE:CPRI) announced the appointment of Mahesh Madhavan to its Board of Directors, effective March 30, 2023. Madhavan, the CEO of Bacardi Limited with over 25 years of experience, will serve on the Compensation and Talent Committee and the Governance, Nominating and Corporate Social Responsibility Committee. His global leadership background is expected to enhance the Board's strategic vision. Capri Holdings aims to leverage his expertise in driving growth and delivering shareholder value. The Board will now consist of eight directors.
Capri Holdings Limited (NYSE:CPRI) reported its financial results for the third quarter of Fiscal 2023, ending December 31, 2022. The company experienced a 6.0% decrease in total revenue, totaling $1.51 billion, while adjusted earnings per share reached $1.84. The adjusted operating margin stood at 16.9%, a decline from the previous year. Notably, Versace revenue fell 0.8%, and Michael Kors saw a 7.2% drop. Looking ahead, Capri anticipates mid-single-digit revenue and earnings growth for fiscal 2024, with projected total revenue of approximately $5.8 billion.