Wed, May 29, 8:11 PM (145 days ago)
Capri Holdings Limited, a global fashion luxury group comprising Versace, Jimmy Choo, and Michael Kors, reported its financial results for the fiscal year ending March 30, 2024. The company generated total revenue of $5.17 billion, a decline from $5.62 billion in the previous fiscal year. The revenue breakdown by brand was Versace at $1.03 billion, Jimmy Choo at $618 million, and Michael Kors at $3.52 billion. The company faces macroeconomic challenges, including inflation, rising interest rates, and geopolitical instability, impacting consumer spending on luxury goods. The pending merger with Tapestry, Inc. is under scrutiny by the U.S. FTC, which filed a lawsuit to block the merger. Capri intends to defend the merger vigorously. The company continues to focus on expanding its e-commerce capabilities and increasing market share in Asia. Risks include potential supply chain disruptions, foreign currency fluctuations, and the impact of global economic conditions on consumer demand.