CPRI
Capri Holdings Limited25.71
-0.26-1%
Dec 16, 4:00:57 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q3 '26
Q&A details FY27 growth drivers
Q&A reinforced sequential retail gains at Michael Kors, pinning improvements on reduced promotions yielding double-digit full-price growth, higher AURs, and new $150-250 Gen Z bags like Layla and Nolita, while outlet clears old inventory for trendier flows. Jimmy Choo's accessories icons and casual footwear traction position it to lead FY27 low-single-digit group growth, with tariff hits offset by sourcing efficiencies and modest hikes. Units will dip amid full-price focus, yet gross margins expand next year. With net debt at $80M post-Versace sale, priorities hit brands first, then $1B buybacks in FY27. Saks $15M reserve? Minor hiccup. Management doubled down cautiously. Watch back-half acceleration.
Key Stats
Market Cap
3.06BP/E (TTM)
-Basic EPS (TTM)
-10.21Dividend Yield
0%Recent Filings
8-K
Reddien named CFO/COO
Capri Holdings appointed Tyler Reddien as CFO and COO effective March 30, 2026, replacing interim CFO Rajal Mehta, who returns to Michael Kors. Reddien, ex-CFO of The Body Shop and Natura &Co exec, gets $700,000 base, up to 200% cash incentive, $500,000 RSU new-hire grant, and $1.5M June award. Leadership bolsters operations. No related-party ties.
10-Q
Q3 FY2026 results
Capri's continuing operations posted Q3 revenue of $1.025B, down 4.0% y/y, yet income from operations jumped to $46M from $26M as no impairments hit unlike last year's $81M charge. Gross margin slipped to 60.8% from 63.1% on U.S. import tariffs, but SG&A held steady while Jimmy Choo swung to a slim profit. Debt plunged to $234M (mostly revolver) post-Versace sale on Dec 2 for $1.395B gross cash, leaving $1.278B revolver availability and $154M cash; capex ran $45M YTD. Versace closed cleanly. Litigation shadows from terminated Tapestry merger linger.
8-K
Versace sold for $1.375B
Capri Holdings completed the sale of its Versace subsidiaries to Prada on December 2, 2025, for $1.375 billion in cash, subject to adjustments. Proceeds will repay most debt, slashing long-term debt by $729 million pro forma and boosting cash to $763 million as of September 27. Balance sheet strengthens sharply. Focus shifts to Michael Kors and Jimmy Choo growth.
10-Q
Q2 FY2026 results
Capri's continuing operations posted Q2 revenue of $856M, down 2.5% y/y from $878M, with gross margin slipping to 61.0% from 62.3% on U.S. import tariffs; operating loss widened to $12M from $6M as Michael Kors dipped 1.8% y/y to $725M while Jimmy Choo fell 6.4% y/y to $131M. YTD revenue slid 4.2% y/y to $1.653B, yet operating income held at $4M; diluted EPS from continuing operations consistent at $(0.28) basic due to anti-dilution. Cash equivalents stood at $120M against $1.764B debt, revolver availability $475M under 4.0x net leverage covenant (in compliance). Versace sale to Prada ($1.375B cash) awaits H2 2025 close. Versace litigation lingers.
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