The luxury fashion brand merger between Capri and Tapestry is officially off, as the two companies announced Thursday that they will abandon the merger because they were unlikely to gain regulatory approval. The proposed $8.5 billion merger was first announced in August 2023 but has faced scrutiny from the Federal Trade Commission (FTC), which sued to block the deal earlier this year over concerns it would undermine competition in the luxury handbag and accessories space. In late October, a federal judge bl ...

Capri and Tapestry called off their merger on Thursday after the megadeal was blocked by the Federal Trade Commission. The two U.S.-based luxury houses "mutually agreed" that ending the merger agreement was in their best interests as they were unlikely to get regulatory approval before the deal was set to expire in February. "With the termination of the merger agreement, we are now focusing on the future of Capri and our three iconic luxury houses," Capri CEO Johh Idol said in a statement. "Looking ahead, I ...

Have you assessed how the international operations of Capri Holdings (CPRI) performed in the quarter ended September 2024? For this luxury retailer, possessing an expansive global footprint, parsing the trends of international revenues could be critical to gauge its financial resilience and growth prospects. In the current global economy, which is more interconnected than ever, a company's success in penetrating international markets is crucial for its financial health and growth journey. Investors must und ...

Shares of the Michael Kors parent dropped on a disappointing earnings report.In its first earnings report since its merger with Coach parent Tapestry was blocked, Capri Holdings (CPRI -7.53%) had more disappointing news for investors after it missed estimates in its fiscal second-quarter earnings report.As of 2:39 p.m. ET, the stock was down 10.4% on the news. Capri comes up shortThe parent company of Michael Kors, Jimmy Choo, and Versace said that revenue in the quarter fell 16.4% to $1.08 billion, which m ...

Key TakeawaysVersace's parent company, Capri Holdings, reported fiscal-second-quarter results that missed analysts' expectations.CEO John Idol pinned declining revenue on “softening demand globally for fashion luxury goods.” The company's stock has lost about half its value since the FTC blocked a planned merger with rival Tapestry last month. Capri Holdings (CPRI) saw its shares tumble Friday after reporting fiscal second-quarter results after yesterday's closing bell that fell short of Wall Street's expec ...

Capri Holdings Limited (CPRI) posted drab second-quarter fiscal 2025 results, wherein both top and bottom lines declined year over year and lagged the Zacks Consensus Estimate. The company’s second-quarter results were impacted by a global slowdown in demand for luxury fashion goods. Despite this challenging retail environment, the company remains focused on executing CPRI’s strategic initiatives aimed at delivering long-term, sustainable growth across its three luxury brands. The company also reported a po ...

Capri Holdings (CPRI) reported $1.08 billion in revenue for the quarter ended September 2024, representing a year-over-year decline of 16.4%. EPS of $0.65 for the same period compares to $1.13 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $1.17 billion, representing a surprise of -7.58%. The company delivered an EPS surprise of -12.16%, with the consensus EPS estimate being $0.74.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wa ...

Capri Holdings (CPRI) came out with quarterly earnings of $0.65 per share, missing the Zacks Consensus Estimate of $0.74 per share. This compares to earnings of $1.13 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -12.16%. A quarter ago, it was expected that this luxury retailer would post earnings of $0.59 per share when it actually produced earnings of $0.04, delivering a surprise of -93.22%.Over the last four quarters, the ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 CAPRI HOLDINGS LTD FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 28, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-35368 (Exact Name of Registrant as Specified in Its Charter) | --- | --- | --- | |--------------------------------- ...

Exhibit 99.1 Capri Holdings Limited Announces Second Quarter Fiscal 2025 Results London — November 7, 2024 — Capri Holdings Limited (NYSE:CPRI), a global fashion luxury group, today announced its financial results for the second quarter of Fiscal 2025 ended September 28, 2024. Second Quarter Fiscal 2025 Highlights • Revenue decreased 16.4% on a reported basis and 16.4% in constant currency • Adjusted operating margin of 3.0% • Adjusted earnings per share of $0.65 John D. Idol, the Company's Chairman and Chi ...