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 (symbol: CPRI) is a global fashion luxury group that designs, markets, and retails branded apparel, footwear, and accessories for both women and men. The company operates through three primary segments: Michael Kors, Versace, and Jimmy Choo. Each brand epitomizes different facets of luxury fashion, offering products from ready-to-wear clothing to high-end footwear and accessories.
Michael Kors is the largest brand under Capri Holdings, widely recognized for its signature handbags, footwear, and apparel. The brand operates over 800 stores globally and also distributes through wholesale and e-commerce channels.
Versace, acquired by Capri in 2018, is renowned for its high-fashion ready-to-wear collections, accessories, and home furnishings. The brand operates through a network of boutiques, department stores, specialty stores, and e-commerce platforms. Versace also licenses its name and trademarks to third parties for products such as jeans, fragrances, watches, and eyewear. As of March 28, 2020, Versace operated 206 retail stores and 824 wholesale doors worldwide.
Jimmy Choo, known primarily for its luxury footwear, was acquired by Capri in 2017. The brand also offers handbags and small leather goods through directly operated stores and its e-commerce site. Similar to Versace, Jimmy Choo licenses its brand name and trademarks to third parties.
Capri Holdings continuously strives to expand its market reach and maintain its stature in the luxury fashion industry. Under the leadership of CEO John Idol since 2003, the company has made significant acquisitions and strategic moves to enhance its portfolio. Financially, Capri Holdings has shown resilience and adaptability in a competitive market landscape.
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.
Capri Holdings Limited (NYSE:CPRI) announced the appointment of Cedric Wilmotte as Chief Executive Officer of the Michael Kors brand, effective April 3, 2023. Wilmotte previously served as interim CEO for Versace and has extensive experience with Michael Kors, leading its EMEA business from 2008 to 2021. Chairman John D. Idol expressed confidence in Wilmotte's leadership to enhance the brand's growth and strategic initiatives. Wilmotte himself emphasized his deep connection to the Michael Kors brand and his commitment to driving future growth.
Capri Holdings Limited (NYSE: CPRI) has announced the scheduling of its third quarter fiscal 2023 financial results, set to be reported on February 8, 2023, at approximately 6:45 a.m. ET. The company will also hold a conference call to discuss these results at 8:30 a.m. ET on the same day. Interested participants can join by dialing (877) 704-4453 or (201) 389-0920 for international calls. A live webcast will also be available on the company’s website, www.capriholdings.com. A replay of the call will be accessible shortly after its conclusion until February 15, 2023.
Capri Holdings Limited (NYSE:CPRI) released its 2022 Corporate Social Responsibility (CSR) report, detailing progress in environmental sustainability, diversity, and philanthropy during Fiscal 2022. Key accomplishments include a 38% reduction in Scope 1 and 2 greenhouse gas emissions since 2019 and alignment of emissions reduction targets with the 1.5°C pathway. The company also achieved a 90/100 score on the Human Rights Campaign's Corporate Equality Index and committed $10 million to the Versace Foundation supporting the LGBTQIA+ community. Capri emphasizes accountability with ESG goals tied to leadership compensation from 2023.
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