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 Limited (NYSE:CPRI) reported a strong second quarter for Fiscal 2022, achieving a 17% revenue increase to $1.3 billion and adjusted earnings per share of $1.53, exceeding expectations. The company raised its full-year EPS outlook to $5.30. Adjusted gross margin expanded by 440 basis points to 67.6%. Versace led growth with a 45% revenue increase, while Michael Kors and Jimmy Choo also showed positive results. The Board approved a share repurchase program of up to $1 billion.
Capri Holdings Limited (NYSE: CPRI) announced the resignation of Jonathan Akeroyd as CEO of Versace, effective March 31, 2022, to pursue opportunities in the UK. Akeroyd will support the management team during the transition. John D. Idol, Chairman and CEO of Capri Holdings, expressed gratitude for Akeroyd's contributions and noted Versace's strong momentum and strategic initiatives. The company will begin the search for a new CEO to ensure continued success under the leadership of Donatella Versace and the existing management team.
Capri Holdings Limited (NYSE: CPRI) will announce its Q2 fiscal 2022 financial results on November 3, 2021, at 6:45 a.m. ET. A conference call will follow at 8:30 a.m. ET to discuss these results. Participants can join via phone or through a live webcast available on the company’s website. A playback of the call will be accessible until November 10, 2021. Capri Holdings is a global luxury fashion group known for its renowned brands in the luxury market.
Capri Holdings Limited (NYSE:CPRI) announced a significant licensing extension with EuroItalia for Versace fragrances, lasting 15 more years. Additionally, Michael Kors will enter a new 15-year agreement with EuroItalia, designating them as the exclusive worldwide fragrance licensee for both men’s and women’s products. This collaboration is expected to enhance the growth potential of the Michael Kors fragrance line. Capri's CEO John D. Idol emphasized the success of the Versace fragrance business and the importance of the partnership with EuroItalia.
Capri Holdings Limited (NYSE:CPRI) announced participation in the Goldman Sachs 28th Annual Global Retailing Conference on September 9, 2021, at 10:50 AM Eastern Time. CEO John D. Idol and CFO Thomas J. Edwards will engage in a fireside chat. The event will be available for live streaming on Capri's Investor Relations website, with an archived replay accessible one hour post-event. Capri Holdings is a global fashion luxury group known for its leading brands across various luxury categories, aiming to expand its global presence while preserving brand independence.
Capri Holdings Limited (NYSE: CPRI) has announced the appointment of Joshua Schulman as the new Chief Executive Officer of the Michael Kors brand, effective immediately. He will succeed John D. Idol as CEO of Capri Holdings in September 2022, when Idol transitions to Executive Chairman. Schulman brings extensive experience from roles at Tapestry, Coach, and Neiman Marcus Group. The leadership change aims to ensure a smooth transition and bolster the company’s strategic direction as it continues to expand in the luxury fashion market.
Capri Holdings Limited (NYSE:CPRI) reported a remarkable 178% increase in revenue for Q1 fiscal 2022, totaling $1.25 billion. Adjusted gross margin expanded by 90 basis points, achieving 20.8% operating margin. Adjusted EPS reached $1.42, prompting a raised full-year EPS outlook to $4.50. All three luxury brands—Versace, Jimmy Choo, and Michael Kors—exceeded expectations, driven by heightened consumer engagement. The company anticipates continued growth, although it refrains from providing comparable store sales due to COVID-19 impacts.
Capri Holdings Limited (NYSE: CPRI) will report its first quarter fiscal 2022 financial results on July 30, 2021, at 6:45 a.m. ET. A conference call will follow at 8:30 a.m. ET to discuss the results. Participants can join via phone or listen to a live webcast on the company’s website. Replays of the call will be available until August 6, 2021. Capri Holdings is a global luxury fashion group, featuring renowned brands across various categories, including accessories, footwear, and fragrances.
Capri Holdings Limited (NYSE:CPRI) has raised its Fiscal 2022 revenue guidance to approximately $5.15 billion from $5.10 billion, driven by strong first-quarter sales. Adjusted earnings per share is now projected to be between $3.80 and $3.90, up from the previous range of $3.70 to $3.80. The company expresses confidence in future growth, crediting the reopening of the global economy and positive performance across its luxury brands. These updates were announced ahead of the Company’s Virtual Investor Day.
Capri Holdings Limited (NYSE:CPRI) announced a virtual investor meeting on June 29, 2021, at 9:00 a.m. EDT. The meeting will feature key presentations from executives, including John Idol and Tom Edwards, and will conclude with a Q&A session around 11:30 a.m. EDT. Interested participants can access the live video webcast and accompanying slides on Capri's Investor Relations website. An archived replay will be available after the event's conclusion, allowing investors to catch up on the discussions.