CPRI - Capri Holdings Limited

NYSE - NYSE Delayed Price. Currency in USD
27.66
-1.20 (-4.16%)
At close: 4:03PM EST
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Previous Close28.86
Open28.34
Bid27.46 x 800
Ask27.66 x 800
Day's Range27.29 - 28.45
52 Week Range25.25 - 50.00
Volume3,179,628
Avg. Volume2,469,586
Market Cap4.131B
Beta (5Y Monthly)0.96
PE Ratio (TTM)12.16
EPS (TTM)2.27
Earnings DateFeb 04, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est44.30
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    Edited Transcript of CPRI earnings conference call or presentation 5-Feb-20 1:30pm GMT

    Q3 2020 Capri Holdings Ltd Earnings Call

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  • Michael Kors, Versace parent Capri lowers revenue guidance by $100 million due to coronavirus
    MarketWatch

    Michael Kors, Versace parent Capri lowers revenue guidance by $100 million due to coronavirus

    Capri Holdings Ltd. says 150 of its 225 stores in China are closed due to the coronavirus outbreak and it’s having a major impact on guidance for the coming months.

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  • Burberry Says Year-end Results Will Be Impacted by Coronavirus
    WWD

    Burberry Says Year-end Results Will Be Impacted by Coronavirus

    LONDON — Burberry is the latest fashion brand to be hit by the coronavirus in the all-important Chinese market.While Burberry did not issue a sales and profit warning on Friday, it did say that retail sales have been impacted by store closures in mainland China and Hong Kong.Currently 24 of its 64 stores in mainland China are closed, with remaining stores operating with reduced hours “and seeing significant footfall declines.”The company added that the spending patterns of Chinese customers in Europe and other tourist destinations have been less impacted to date, “but given widening travel restrictions, we anticipate these to worsen over the coming weeks.”The news sent shares down 1.43 percent to 19.88 pounds in late-morning trading on the London Stock Exchange. The share price recovered during the course of the day, closing down 0.1 percent at 20.15 pounds.Earlier this week, Capri Holdings Ltd., parent of Michael Kors, Versace and Jimmy Choo, warned that the ongoing coronavirus crisis will have a severe impact on its results in the next quarter — and potentially even a greater one depending on how long the health emergency lasts. The company said it expects the epidemic to reduce revenues by about $100 million in the fourth quarter. Burberry did not comment on whether or not it was still planning to stage its fall 2020 fashion show in Shanghai in April. Spend by Chinese consumers globally generates 40 percent of Burberry’s sales."The outbreak of the coronavirus in mainland China is having a material negative effect on luxury demand. While we cannot currently predict how long this situation will last, we remain confident in our strategy,” said Marco Gobbetti, chief executive officer.“In the meantime, we are taking mitigating actions and every precaution to help ensure the safety and well-being of our employees. We are extremely grateful for the incredible effort of our teams and our immediate thoughts are with the people directly impacted by this global health emergency," he added.The company said its most recent guidance for the fiscal year ended March 2020 predates the impact of the coronavirus outbreak and the company wanted to update the market.Burberry clarified that the “mitigating actions” it is taking will have a “limited” impact, given the proximity to its fiscal year-end on March 31, when it will provide a retail trading update."We also intend to continue our key growth initiatives in preparation for a recovery in luxury demand," it said. “We remain confident in our strategy and are very pleased with the positive response to our brand repositioning and new product. We will continue to focus on newness and fashion, and on inspiring and engaging our customers globally. We fully support the efforts the Chinese government is taking to contain the virus and we are working in close conjunction with local authorities and partners.”Burberry has already been suffering in Hong Kong: Last month, in its third-quarter trading update, it said Hong Kong, which generated 8 percent of Burberry’s sales last year, contributed just 4 percent in the third quarter due to a decline in mainland Chinese tourists and temporary store closures from the ongoing protests.At the time, despite the falloff in Hong Kong and the rise of the coronavirus in mainland China, Burberry had raised its revenue guidance, saying it expected full-year revenues to grow by a low single-digit percentage at constant exchange, compared to previous guidance of "broadly stable."It expected adjusted operating margin to remain broadly stable at constant exchange, despite the impact of disruptions in Hong Kong. For the full fiscal year, cumulative cost savings are set to be 125 million pounds, ahead of the 120 million pounds originally forecast.More from WWD * Burberry Defiant in Face of Hong Kong Slowdown, Macro Challenges * More Tisci Products Nudge Burberry Retail Revenues Up 1% in Q3 * Wuhan Virus Spooks Global Stock Market, Luxury Shares

  • Company News for Feb 6, 2020
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  • Capri Holdings (CPRI) in Focus: Stock Moves 8.3% Higher
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  • Coronavirus update: at least 490 deaths, 12th  U.S. case confirmed in Wisconsin, and Nike closes half of its stores in China
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  • Capri Holdings (CPRI) Beats on Q3 Earnings but Trims FY20 View
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  • Jimmy Choo, Michael Kors Parent Expects to Lose $100M Due to Coronavirus
    Footwear News

    Jimmy Choo, Michael Kors Parent Expects to Lose $100M Due to Coronavirus

    Capri Holdings Ltd. is not immune to the impact of the deadly coronavirus outbreak.The London-based company — parent to Michael Kors, Versace and Jimmy Choo — downwardly revised its revenue forecast for the year to $5.65 billion and projected lower earnings per share in the range of $4.45 to $4.50. Its previous guidance put sales at $5.8 billion, with downward adjustment shaving more than $100 million off that estimate, and adjusted EPS of $4.95. Management attributed the change to the health emergency related to the coronavirus, which has already killed nearly 500 and sickened more than 24,000."Our thoughts and prayers go out to the people of China, including our own employees located in this region, as well as all of those affected by the virus globally. We hope for a speedy and positive resolution to this crisis," said Chairman and CEO John Idol. "The situation in China and the measures being taken to protect the population are having a material impact on our business."Industry leaders have been keeping a close eye on China in the wake of the outbreak, which has been designated a public health emergency of international concern. Despite those fears, Capri expressed confidence in its businesses, delivering revenues and earnings per share above consensus bets. Adjusted EPS for the third quarter came in at $1.66, compared with predictions of $1.59, while sales improved 9.2% to $1.57 billion, versus analysts' forecasts of $1.54 billion.As of 9:00 a.m. ET, Capri's stock was up close to 5% at $32.23. While Michael Kors logged a 5.1% revenue decrease to $1.21 billion, Jimmy Choo's sales rose 1.9% to $165 million and Versace's sales totaled $195 million."The strategic initiatives for our recent acquisitions, Versace and Jimmy Choo, continue to gain traction, and we believe we are on the right path to position Michael Kors for future growth," Idol added. "Longer term, as we continue to execute against our strategies, we are confident in our ability to deliver multiple years of revenue and earnings growth."Want more?Capri Misses Estimates as Hong Kong Protests Hit Versace and Jimmy ChooWhat Wolverine, Capri and More Fashion Groups Are Saying About Trump's New China TariffsMichael Kors Becomes Capri Holdings, Closes Versace BuyoutMore from Footwear News * Gabrielle Union and Dwyane Wade Matched in White Lace Looks at Vanity Fair's Oscars Party * Diamond Necklaces Were the Biggest Jewelry Trend on 2020 Oscars Red Carpet * Regina King + More Stars Are Towering in Chunky Platforms on the Oscars Red Carpet

  • Versace, Choo Parent Sees $100M Hit From Coronavirus
    WWD

    Versace, Choo Parent Sees $100M Hit From Coronavirus

    Capri Holdings Ltd. is making a comeback — and the fashion house has Jimmy Choo and Versace to thank for that. The brands have been resonating with shoppers as the likes of Jennifer Lopez and Kaia Gerber act as ambassadors for the businesses. That’s good news for Michael Kors’ parent company, which reported quarterly earnings Wednesday, causing shares to surge 8.3 percent to $33.31. The group warned that the ongoing coronavirus crisis will have a severe impact on its results in the next quarter — and potentially even a greater one depending on how long the health emergency lasts. For the three-month period ending Dec. 28, total revenue jumped 9.2 percent to $1.57 billion, compared with $1.43 billion the same time last year. Net income also rose, to $210 million, compared with $200 million a year earlier. "For the third quarter, we were pleased to deliver revenue and earnings per share above our expectations,” Capri’s chairman and chief executive officer John D. Idol said in a statement. “Our revenue increase reflected the addition of Versace and growth from Jimmy Choo, while Michael Kors revenue was better than anticipated. The strategic initiatives for our recent acquisitions, Versace and Jimmy Choo, continue to gain traction, and we believe we are on the right path to position Michael Kors for future growth. Longer term, as we continue to execute against our strategies, we are confident in our ability to deliver multiple years of revenue and earnings growth."Still, it wasn’t all good news. The company’s largest brand, Michael Kors, continued to lag. Sales fell 5.1 percent to $1.21 billion, down from $1.27 billion the same time last year. One noticeable slump was in the brand's watch business.“Clearly the customer voted for those watches in the tech ecosystem,” Idol said on the conference call with analysts Wednesday morning. “It’s very difficult for us to compete with them. We’re trying, but it’s definitely an uphill battle.”He estimated that the decline in watch sales will negatively impact North American comps for the rest of the fiscal year.Another potential headwind could be Macy's recent announcement to close stores. The Michael Kors business is heavily tied to the department store.But Idol said it will only have a small impact on the business."The majority of our business is done with e-commerce and the top 200 [Macy’s] stores," he said. Meanwhile, the Versace and Jimmy Choo businesses added a boost. Versace, which the company acquired in December 2018, had total sales of $195 million during the quarter.“We feel that Versace is absolutely on track,” Idol said. “The customer is absolutely responding to what we’re working on. We’re super positive about how that [acquisition] is going to impact us long-term.” The company anticipates Versace revenues growing to $2 billion.Jimmy Choo also did well. Total sales at accessories company Jimmy Choo rose 1.9 percent to $165 million, compared with $162 million the same time last year. But moving forward, Capri expects the ongoing coronavirus to reduce revenues by about $100 million next quarter. “We are in the midst of a dynamic global health emergency related to the coronavirus,” Idol said. “Our thoughts and prayers go out to the people of China, including our own employees located in this region, as well as all of those affected by the virus globally. We hope for a speedy and positive resolution to this crisis. The situation in China and the measures being taken to protect the population are having a material impact on our business. Given our current visibility, we now anticipate annual revenue of approximately $5.65 billion and adjusted earnings per share of $4.45 to $4.50. This estimate could materially change if the severity of the situation in China worsens."The company closed about 150 stores in China as of Feb. 5. Executives on the conference call added that the virus could impact nearby markets, such as South Korea and Japan. "That’s going to be painful,” Idol said. “There’s definitely going to be an impact on all of our brands in [the first quarter] because of the virus. We’ve taken the trends today and we’ve assumed that nothing gets better through the end of March."Still, he added that "China will return and it will be a major growth pillar.” In December, the company said it was expanding its portfolio with the purchase of Italian atelier and shoe manufacturer Alberto Gozzi Srl in Pistoia, Tuscany. The amount of the transaction, which is expected to close in the fourth quarter, was not disclosed.More from WWD * Shanghai and Beijing Fashion Weeks Postponed Amid Epidemic Outbreak * The Return of the Yuppie * EXCLUSIVE: Rebecca Minkoff Launches First Children's Collection

  • Capri Holdings (CPRI) Tops Q3 Earnings and Revenue Estimates
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  • MarketWatch

    Michael Kors parent Capri Holdings shares rise after earnings beat but coronavirus weighs on guidance

    Capri Holdings Ltd. shares rose 1.4% in Wednesday premarket trading after the luxury fashion house reported fiscal third-quarter earnings and revenue that beat expectations. Net income totaled $210 million, or $1.38 per share, up from $200 million, or $1.33 per share, last year. Adjusted EPS of $1.66 beat the FactSet consensus of $1.59. Revenue of $1.57 billion was up from $1.44 billion and also ahead of the FactSet outlook for $1.54 billion. Capri's labels include Michael Kors, Versace and Jimmy Choo. "The situation in China and the measures being taken to protect the population are having a material impact on our business," said Capri Chief Executive John Idol in a statement, referring to the coronavirus outbreak. As a result, the company now expects annual revenue of $5.65 billion and adjusted EPS of $4.45 to $4.50. The FactSet expectation is for revenue of $5.78 billion and EPS of $4.87. Capri stock has tumbled 29.4% over the past year while the S&P 500 index has gained 20.5% for the period.

  • Business Wire

    Capri Holdings Limited Announces Third Quarter Fiscal 2020 Results

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  • ACCESSWIRE

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