Corey Moran has been named chief marketing officer of Michael Kors, effective April 6. In this new role, Moran will oversee an integrated marketing organization encompassing brand communications, content creation and consumer data analytics. The role is expected to help the company increase revenues from customer acquisition efforts by aligning Michael Kors’ Jet Set lifestyle image and fashion product storytelling with its data analytics and consumer engagement strategies. More from WWD Previously, Mora ...

Core Insights - The company is currently in a favorable position with two strong heritage brands, Michael Kors and Jimmy Choo, which are 45 and 30 years old respectively [2] - The strategic focus is on capturing market share among younger consumers, specifically targeting Gen Z and millennials [2] Strategic Initiatives - The company has identified opportunities for growth, particularly with the Michael Kors brand, and has been actively working on these initiatives for over a year [2] - There is an emphasis on leveraging the heritage of both brands to appeal to a younger demographic [2]

Capri Holdings Conference Call Summary Company Overview - **Company**: Capri Holdings (NYSE: CPRI) - **Brands**: Michael Kors, Jimmy Choo - **Recent Developments**: Sold Versace, resulting in reduced debt to $80 million, allowing for strategic investments and share repurchase programs [6][7] Strategic Initiatives - **Target Audience**: Focus on attracting younger consumers, specifically Gen Z and millennials [3][4] - **Brand Modernization**: - Michael Kors: Emphasis on modernizing the Jet Set heritage while maintaining brand identity [3][4] - Jimmy Choo: Shift in marketing to appeal to a broader lifestyle, including casual wear [9][10] - **Pricing Strategy**: Resetting pricing architecture to align with consumer expectations, resulting in reduced discounting and improved full-price sell-throughs [5][19] Financial Performance - **Jimmy Choo**: - Achieved three consecutive quarters of comparable store sales increases [9] - Projected to reach $800 million in revenue with operating margins of 10%-15% [13][40] - **Michael Kors**: - Focus on full-price sales and reduced promotional activities, leading to positive sales trends [21][22] - Anticipated operating margins above 20% [42][48] - **Overall Growth**: Expected low single-digit growth for Capri Holdings with significant operating margin expansion [30][31] Marketing and Sales Channels - **Influencer Marketing**: Increased use of influencers and social media channels to enhance brand visibility and engagement [5][26] - **Store Renovations**: Plans to renovate 350 stores with a budget of $300 million, aiming to improve customer experience and sales [20][35] - **Wholesale Business**: Positive developments in wholesale partnerships, particularly in North America and Europe, with a focus on accessible luxury [28][29] Market Conditions - **Luxury Market Trends**: The luxury accessories market is expected to decline slightly, but Capri Holdings aims to gain market share through accessible luxury offerings [54][55] - **Consumer Health**: North American consumers remain strong, with a resurgence in shopping mall traffic, particularly among younger demographics [58][59] - **Geopolitical Impact**: Limited impact from recent events in the Middle East, with a focus on maintaining operations in the region [57][58] Challenges and Risks - **Tariffs**: Anticipated tariff impacts of approximately $125 million, with expectations of stabilization in the future [66][67] - **Footwear Segment**: Identified as an area needing improvement, with plans to enhance product offerings [34] Leadership Changes - **New CFO/COO**: Tyler Redden, with extensive operational experience, is set to join the company, expected to contribute positively to operational efficiency [71] This summary encapsulates the key points discussed during the Capri Holdings conference call, highlighting the company's strategic direction, financial performance, market conditions, and leadership changes.

Core Insights - DME Capital Management increased its position in Capri Holdings by 2,080,410 shares during Q4 2025, with an estimated transaction value of $48.12 million, leading to a total quarter-end position value increase of $62.80 million [1][9] - Capri Holdings now represents 4.08% of DME's reported 13F assets under management (AUM), making it the seventh largest holding out of 41 [2][9] - Capri's stock price as of February 17, 2026, was $20.38, reflecting a 5.3% decline over the past year, underperforming the S&P 500 by 21.2 percentage points [2][3] Company Overview - Capri Holdings operates as a global luxury fashion group, offering luxury apparel, footwear, handbags, accessories, and licensed products under brands such as Versace, Jimmy Choo, and Michael Kors [5][8] - The company generates revenue through direct retail, wholesale distribution, e-commerce operations, and brand licensing agreements, targeting global consumers in North America, Europe, Asia, and other international markets [8] - For the trailing twelve months (TTM), Capri reported revenue of $4.33 billion and a net income of -$504 million [3] Market Position and Strategy - Capri Holdings employs a multi-brand strategy and established distribution network to enhance its competitive positioning within the luxury goods sector [5] - The company combines direct-to-consumer retail, wholesale, and licensing to diversify its revenue streams and expand its international reach [5] - The recent Supreme Court ruling against certain tariffs may positively impact Capri's gross margins as tariff changes are implemented [10]

Group 1 - Capri Holdings Ltd. has appointed Tyler Reddien as chief financial officer and chief operating officer, effective March 30 [1] - Reddien previously served as CFO of The Body Shop and held senior leadership positions at Natura &Co. Holding and Hertz [2] - John D. Idol, chairman and CEO of Capri, praised Reddien's strategic mindset and international experience, highlighting his ability to drive performance and lead complex transformations [3] Group 2 - Reddien expressed enthusiasm about joining Capri, emphasizing the company's dynamic global business and significant growth opportunities [3] - Capri's notable brands include Michael Kors and Jimmy Choo, indicating a strong portfolio in the luxury fashion sector [3]

Group 1: Company Performance and Ratings - Capri Holdings Limited (NYSE:CPRI) received a rating update from TD Cowen, lowering the price target to $26 from $32 while maintaining a Buy rating, citing better-than-expected fiscal Q3 results but higher expectations holding the stock back [1] - Goldman Sachs cut the price target to $24 from $27 while maintaining a Neutral rating, noting sequential improvement in Michael Kors full-price sales and stronger-than-expected Jimmy Choo performance, but highlighted ongoing wholesale reset and outlet pressure affecting near-term results [2] - UBS also updated its rating, cutting the price target to $22 from $25 and maintaining a Neutral rating, stating that the company is executing self-help initiatives to restore brand momentum, with the fiscal Q3 report indicating that the turnaround is broadly on track, though recovery may take longer than anticipated [3] Group 2: Brand Overview - Capri Holdings Limited manages luxury brands including Jimmy Choo, Versace, and Michael Kors, with the Versace segment covering luxury apparel, accessories, and footwear, while Jimmy Choo focuses on luxury footwear and handbags, and Michael Kors operates through various retail formats including lifestyle stores and e-commerce [4]

Core Viewpoint - Capri Holdings Limited (NYSE:CPRI) is recognized as one of the best consumer stocks to buy according to Wall Street, despite recent price target reductions by analysts [1]. Group 1: Analyst Ratings and Price Targets - TD Cowen analyst Oliver Chen lowered the price target for Capri Holdings to $26 from $32 while maintaining a Buy rating, citing better-than-expected third-quarter results but noting that elevated expectations are limiting stock performance [2]. - Goldman Sachs reduced its price target to $24 from $27 and kept a Neutral rating, highlighting sequential improvement in Michael Kors full-price sales and strong results at Jimmy Choo, but also mentioning ongoing outlet pressure and a wholesale reset affecting near-term performance [3]. - UBS analyst Jay Sole cut the price target to $22 from $25 while maintaining a Neutral rating, indicating that the company's self-help initiatives are on track but the recovery may take longer than previously expected [3]. Group 2: Financial Performance - Capri Holdings reported third-quarter revenue of $1.025 billion, exceeding the $1 billion consensus estimate, with CEO John Idol emphasizing ongoing strategic initiatives at Michael Kors and Jimmy Choo aimed at long-term growth [4]. - The completed sale of Versace has significantly reduced the company's debt, leaving it with $80 million of net debt at the end of the quarter [4]. Group 3: Company Overview - Capri Holdings Limited is involved in the design, marketing, distribution, and retail of branded women's and men's apparel, footwear, and accessories across various global markets including the United States, Canada, Latin America, Europe, the Middle East, Africa, Asia, and Oceania [5].

Core Viewpoint - Capri Holdings Limited (CPRI) presents an attractive investment opportunity following a challenging period marked by issues related to the Michael Kors brand and a failed acquisition attempt [1] Group 1 - The company has faced difficulties in recent years, particularly with the Michael Kors brand, which has impacted its overall performance [1] - The potential for recovery and growth in Capri Holdings is highlighted, suggesting a bullish outlook for investors [1]

Core Viewpoint - Capri Holdings (CPRI) stock initially rose above $25 after a sell rating was issued, but has since declined, indicating volatility in its market performance [1] Group 1: Stock Performance - After the initial analysis, Capri Holdings' stock experienced a short-lived increase before gradually declining [1] - The stock's performance suggests a potential disconnect between market perception and the analyst's rating [1] Group 2: Investment Philosophy - The company focuses on identifying undervalued stocks with a favorable risk-reward profile, emphasizing the importance of understanding ownership [1] - A belief is expressed that the simplest investment ideas often yield the best results, particularly when they are contrarian in nature [1]

Core Insights - Capri Holdings Limited (CPRI) reported better-than-expected third-quarter fiscal 2026 results, with revenues and earnings exceeding the Zacks Consensus Estimate, despite a year-over-year decline in top line [1][12] Financial Performance - Adjusted earnings were 81 cents per share, surpassing the Zacks Consensus Estimate of 78 cents, and increased from 63 cents in the prior year [2] - Total revenues reached $1,025 million, exceeding the Zacks Consensus Estimate of $998 million, but declined 4% year over year on a reported basis and 5.9% on a constant-currency basis [3] - Gross profit decreased to $623 million from $674 million in the year-ago quarter, with gross margin contracting 230 basis points to 60.8% [4] - Operating income rose to $46 million from $26 million a year ago, with the operating margin improving 210 basis points to 4.5% [4] Segment Performance - Revenues from Michael Kors declined 5.6% year over year to $858 million, but were better than the Zacks Consensus Estimate of $846 million, with operating income at $119 million [5] - Jimmy Choo's revenues increased 5% year over year to $167 million, surpassing the Zacks Consensus Estimate of $152 million, with an operating income of $3 million [6] Financial Health - Capri Holdings ended the quarter with cash and cash equivalents of $154 million and total borrowings of $234 million, resulting in net debt of $80 million, a significant improvement from $1.17 billion a year earlier [7] - Operating cash flow for the quarter was $271 million, leading to robust free cash flow of $252 million [7] Strategic Developments - The company completed the sale of its Versace business to Prada, focusing on core brands Michael Kors and Jimmy Choo, using proceeds to reduce debt and enhance financial flexibility [8][9] Outlook - For fiscal 2026, Capri Holdings expects total revenues between $3.45 and $3.475 billion, with adjusted earnings projected in the range of $1.30-$1.40 per share [10] - Revenues for Michael Kors are projected between $2.86-$2.875 billion, while Jimmy Choo revenues are expected in the range of $590-$600 million [11]