Completed Acquisition of Versace
Third Quarter Adjusted Earnings per Share Exceed Expectations
LONDON--(BUSINESS WIRE)--
Capri Holdings Limited (NYSE:CPRI), a global fashion luxury group, today
announced its financial results for the third quarter of fiscal 2019
ended December 29, 2018.
This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20190206005189/en/
Third Quarter Fiscal 2019 Highlights
-
Adjusted earnings per share of $1.76 were above expectations
-
Raised prior adjusted earnings per share guidance excluding Versace
-
Completed Versace acquisition and expanded global fashion luxury group
John D. Idol, the Company’s Chairman and Chief Executive Officer, said,
“We are extremely pleased to have recently renamed our Company Capri
Holdings Limited and completed the acquisition of Versace. In the
quarter, Jimmy Choo delivered strong performance, as we continued to
execute on our accelerated growth plans. In Michael Kors, we remain
focused on executing our Runway 2020 strategic initiatives and expect
our efforts will return the brand to growth next year. For full year
fiscal 2019, our luxury group is expected to deliver both double digit
revenue and adjusted earnings per share growth. Taken together, we
believe our three iconic, founder-led fashion brands position Capri
Holdings to accelerate revenue to $8 billion dollars and deliver
multiple years of earnings growth."
Third Quarter Fiscal 2019 Results
Financial Results and non-GAAP Reconciliation
The Company’s results are reported in this press release in accordance
with accounting principles generally accepted in the United States
(“U.S. GAAP”) and on an adjusted, non-GAAP basis. A reconciliation of
GAAP to non-GAAP financial information is provided at the end of this
press release.
Overview of Capri Holdings Third Quarter Fiscal
2019 Results:
-
Total revenue of $1.44 billion was approximately flat compared to last
year, including an incremental month of Jimmy Choo revenue of $39.3
million. On a constant currency basis, total revenue increased 1.1%.
-
Gross profit was $873.2 million and gross margin was 60.7%, compared
to $884.0 million and 61.4% in the prior year. Adjusted gross profit
was $874.1 million and adjusted gross margin was 60.8%, compared to
$885.6 million and 61.5% in the prior year.
-
Income from operations was $290.0 million and operating margin was
20.2% compared to $313.5 million and 21.8% in the prior year. Adjusted
income from operations was $316.5 million and operating margin was
22.0%, compared to $345.7 million and 24.0% in the prior year.
-
Net income was $199.6 million, or $1.33 per diluted share compared to
$219.4 million, or $1.42 per diluted share in the prior year. Adjusted
net income was $264.7 million, or $1.76 per diluted share, compared to
$273.4 million or $1.77 per diluted share in the prior year.
Michael Kors Segments Third Quarter Fiscal 2019
Results:
-
Michael Kors Retail revenue of $838.0 million decreased 1.0% compared
to the prior year. Comparable store sales decreased 2.4%, which was in
line with expectations. On a constant currency basis, comparable store
sales decreased 1.0%.
-
Michael Kors Retail operating income was $149.9 million and operating
margin was 17.9%, compared to $180.4 million and 21.3% in the prior
year. Adjusted operating income was $162.5 million while adjusted
operating margin was 19.4%, compared to $194.0 million and 22.9% in
the prior year.
-
Michael Kors Wholesale revenue declined 8.3% to $394.9 million
compared to the prior year.
-
Michael Kors Wholesale operating income was $108.6 million and
operating margin was 27.5%, compared to $100.5 million and 23.3% in
the prior year. On an adjusted basis operating income was $111.2
million while adjusted operating margin was 28.2% compared to 107.8
million and 25.0% in the prior year.
-
Michael Kors Licensing revenue decreased 9.9% to $43.5 million
compared to the prior year.
-
Michael Kors Licensing operating income was $26.0 million and
operating margin was 59.8%, compared to $26.9 million and 55.7% in the
prior year. On an adjusted basis operating income was $26.4 million
and operating margin was 60.7%, compared to $28.2 million and 58.4% in
the prior year.
-
Inventory for the Michael Kors brand at December 29, 2018 was $606.2
million, an 8.2% increase as compared to the prior year.
Jimmy Choo Third Quarter Fiscal 2019 Results:
-
Jimmy Choo revenue was $161.6 million. The Company acquired Jimmy Choo
on November 1, 2017, and compared to Jimmy Choo stand-alone results
from the prior year, revenue increased mid single digits.
-
Jimmy Choo operating income was $5.5 million and adjusted operating
income was $16.4 million.
-
Inventory for the Jimmy Choo brand at December 29, 2018 was $158.5
million, a 35.3% increase as compared to the prior year.
Share Repurchase Program
During the third quarter, the Company repurchased approximately 2.1
million of the Company's ordinary shares for approximately $100.0
million in open market transactions. As of December 31, 2018 the
remaining availability under the Company’s share repurchase program was
$442.2 million.
Outlook
The following guidance is provided on an adjusted, non-GAAP basis.
Fiscal 2019 guidance includes projected Versace results subsequent to
the closing of the acquisition on December 31, 2018. Guidance includes
Versace results for two months, as the Company will report Versace on a
one month lag, and includes a full three months of interest costs
related to the acquisition.
For the full year, the Company expects total revenue to be approximately
$5.22 billion. Michael Kors revenue is expected to be approximately
$4.51 billion, including a low single digit comparable store sales
decline. Jimmy Choo revenue is now expected to be approximately $580
million, a slight reduction from prior guidance reflecting an
unfavorable foreign currency impact. Versace revenue is expected to be
approximately $130 million. The Company now expects an operating margin
of approximately 17.3%, reflecting brand operating margins of
approximately 19.5% for Michael Kors, 4.8% for Jimmy Choo and slightly
negative for Versace. The Company is updating its full year earnings per
share guidance to be in a range of $4.90 to $4.95, including $0.15 of
dilution from the Versace acquisition, partly offset by a $0.05 increase
to previous guidance for the pre-acquisition business, reflecting third
quarter results. This guidance continues to include dilution from Jimmy
Choo of $0.05 to flat. Earnings per share guidance assumes approximately
152 million weighted average diluted shares outstanding, including the
2.4 million shares issued to the Versace family in connection with the
acquisition and an effective tax rate of approximately 13.0%.
For the fiscal fourth quarter of 2019, the Company expects total revenue
of approximately $1.33 billion. Michael Kors revenue is expected to be
approximately $1.07 billion, including a low single digit decline in
reported comparable sales close to the higher end of the range. Michael
Kors constant currency comparable sales are expected to decline close to
the low end of the low single digits range. Jimmy Choo revenue is
expected to be approximately $130 million, including a comparable sales
increase in the low single digits on a reported basis and mid single
digits on a constant currency basis. Versace revenue is expected to be
approximately $130 million. Operating margin is expected to be
approximately 10.3%, reflecting brand operating margins of approximately
13.6% for Michael Kors, negative 4.5% for Jimmy Choo and slightly
negative for Versace. Diluted earnings per share are expected to be in
the range of $0.56 to $0.61, which includes approximately $0.15 of
dilution from Versace. Earnings per share guidance assumes approximately
153 million weighted average diluted shares outstanding and an effective
tax rate of approximately 20.0%.
While the Company normally provides long term expectations at our
Investor Day, given the recent acquisition of Versace the Company
believes it is important to update its expectations for Capri Holdings
and has added a table to this earnings release outlining the major
components of its anticipated growth. For fiscal 2020, the Company
expects total revenue to be approximately $6.1 billion, including
approximately $900 million for Versace, $650 million for Jimmy Choo and
$4.55 billion for Michael Kors. The Company expects an operating margin
of approximately 15.5%. Diluted earnings per share are expected to be
approximately $4.95. For Capri Holdings, beyond Fiscal 2020, the Company
expects to deliver accelerated revenue and earnings per share growth.
The Company believes these results will be driven by revenue growth for
Versace, Jimmy Choo and Michael Kors, as well as expanded margins from
Versace and Jimmy Choo, and looks forward to providing additional
guidance and long term expectations at its Investor Day in June.
Conference Call Information
A conference call to discuss third quarter results is scheduled for
today, February 6, 2019 at 8:30 a.m. ET. A live webcast of the
conference call will be available on the Company’s website, www.capriholdings.com.
In addition, a replay will be available shortly after the conclusion of
the call and remain available until February 13, 2019. To access the
telephone replay, listeners should dial 1-844-512-2921 or 1-412-317-6671
for international callers. The access code for the replay is 4719600. A
replay of the webcast will also be available within two hours of the
conclusion of the call and will remain on the website for 90 days.
Use of Non-GAAP Financial Measures
Constant currency effects are non-GAAP financial measures, which are
provided to supplement our reported operating results to facilitate
comparisons of our operating results and trends in our business,
excluding the effects of foreign currency rate fluctuations. Because we
are a global company, foreign currency exchange rates may have a
significant effect on our reported results. We calculate constant
currency measures and the related foreign currency impacts by
translating the current year’s reported amounts into comparable amounts
using prior year’s foreign exchange rates for each currency. All
constant currency performance measures discussed below should be
considered a supplement to and not in lieu of our operating performance
measures calculated in accordance with U.S. GAAP. Additionally, this
earnings release includes certain non-GAAP financial measures relating
to certain one-time costs associated with the Jimmy Choo acquisition and
the Versace acquisition and restructuring and non-cash impairment
charges primarily associated with underperforming retail stores. The
Company uses non-GAAP financial measures, among other things, to
evaluate its operating performance and in order to represent the manner
in which the Company conducts and views its business. The Company
believes that excluding non-recurring items helps its management and
investors compare operating performance based on its ongoing operations.
While the Company considers the non-GAAP measures to be useful
supplemental measures in analyzing its results, they are not intended to
replace, nor act as a substitute for, any amounts presented in its
consolidated financial statements prepared in conformity with U.S. GAAP
and may be different from non-GAAP measures reported by other companies.
About Capri Holdings Limited
Capri Holdings Limited is a global fashion luxury group, consisting of
iconic brands that are industry leaders in design, style and
craftsmanship. Its brands cover the full spectrum of fashion luxury
categories including women’s and men’s accessories, footwear and
ready-to-wear as well as wearable technology, watches, jewelry, eyewear
and a full line of fragrance products. The Company’s goal is to continue
to extend the global reach of its brands while ensuring that they
maintain their independence and exclusive DNA. Capri Holdings Limited is
publicly listed on the New York Stock Exchange under the ticker CPRI.
Forward Looking Statements
This press release contains statements which are, or may be deemed to
be, “forward-looking statements.” Forward-looking statements are
prospective in nature and are not based on historical facts, but rather
on current expectations and projections of the management of Capri
Holdings Limited (the “Company”) about future events, and are therefore
subject to risks and uncertainties which could cause actual results to
differ materially from the future results expressed or implied by the
forward-looking statements. All statements other than statements of
historical facts included in this press release may be forward-looking
statements. Without limitation, any statements preceded or followed by
or that include the words “targets”, “plans”, “believes”, “expects”,
“aims”, “intends”, “will”, “should”, “could”, “would”, “may”,
“anticipates”, “estimates”, “synergy”, “cost-saving”, “projects”,
“goal”, “strategy”, “budget”, “forecast” or “might” or, words or terms
of similar substance or the negative thereof, are forward-looking
statements. Forward-looking statements include statements relating to
future capital expenditures, expenses, revenues, earnings, economic
performance, indebtedness, financial condition, share buybacks, dividend
policy, losses and future prospects of the Company, business and
management strategies and the expansion and growth of the Company’s
operations, and benefits from any acquisition. These forward-looking
statements are not guarantees of future financial performance. Such
forward-looking statements involve known and unknown risks and
uncertainties that could significantly affect expected results and are
based on certain key assumptions, which could cause actual results to
differ materially from those projected or implied in any forward-looking
statements. These risks, uncertainties and other factors include the
Company’s ability to integrate successfully and to achieve anticipated
benefits of any acquisition; the risk of disruptions to the Company’s
businesses; the negative effects of events on the market price of the
Company’s ordinary shares and its operating results; significant
transaction costs; unknown liabilities; the risk of litigation and/or
regulatory actions related to the Company’s businesses; fluctuations in
demand for the Company’s products; levels of indebtedness (including the
indebtedness incurred in connection with acquisitions); future
availability of credit; the timing and scope of future share buybacks,
which may be made in open market or privately negotiated transactions,
and are subject to market conditions, applicable legal requirements,
trading restrictions under the Company’s insider trading policy and
other relevant factors, and which share repurchases may be suspended or
discontinued at any time,
the level of other investing activities
and uses of cash; changes in consumer traffic and retail trends; loss of
market share and industry competition; fluctuations in the capital
markets; fluctuations in interest and exchange rates; the occurrence of
unforeseen disasters or catastrophes; political or economic instability
in principal markets; adverse outcomes in litigation; and general, local
and global economic, political, business and market conditions, as well
as those risks set forth in the reports that the Company files from time
to time with the U.S. Securities and Exchange Commission, including the
Company’s Annual Report on Form 10-K for the fiscal year ended March 31,
2018 (File No. 001-35368). The Company disclaims any obligation to
update or revise any forward-looking or other statements contained
herein other than in accordance with legal and regulatory obligations
|
SCHEDULE 1
|
|
CAPRI HOLDINGS LIMITED AND SUBSIDIARIES
CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions,
except share and per share data)
(Unaudited)
|
|
|
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
|
|
|
|
December 29, 2018
|
|
December 30, 2017
|
|
December 29, 2018
|
|
December 30, 2017
|
Total revenue
|
|
|
|
$
|
1,438.0
|
|
|
$
|
1,440.1
|
|
|
$
|
3,894.3
|
|
|
$
|
3,539.1
|
|
Cost of goods sold
|
|
|
|
564.8
|
|
|
556.1
|
|
|
1,507.2
|
|
|
1,389.6
|
|
Gross profit
|
|
|
|
873.2
|
|
|
884.0
|
|
|
2,387.1
|
|
|
2,149.5
|
|
Total operating expenses
|
|
|
|
583.2
|
|
|
570.5
|
|
|
1,692.5
|
|
|
1,487.5
|
|
Income from operations
|
|
|
|
290.0
|
|
|
313.5
|
|
|
694.6
|
|
|
662.0
|
|
Other income, net
|
|
|
|
(1.4
|
)
|
|
(0.1
|
)
|
|
(3.7
|
)
|
|
(1.0
|
)
|
Interest expense, net
|
|
|
|
7.7
|
|
|
8.3
|
|
|
21.1
|
|
|
10.2
|
|
Foreign currency loss (gain)
|
|
|
|
42.6
|
|
|
27.0
|
|
|
78.5
|
|
|
(14.7
|
)
|
Income before provision for income taxes
|
|
|
|
241.1
|
|
|
278.3
|
|
|
598.7
|
|
|
667.5
|
|
Provision for income taxes
|
|
|
|
41.7
|
|
|
58.9
|
|
|
76.0
|
|
|
119.9
|
|
Net income
|
|
|
|
199.4
|
|
|
219.4
|
|
|
522.7
|
|
|
547.6
|
|
Less: Net loss attributable to noncontrolling interests
|
|
|
|
(0.2
|
)
|
|
—
|
|
|
(0.9
|
)
|
|
(0.2
|
)
|
Net income attributable to Capri
|
|
|
|
$
|
199.6
|
|
|
$
|
219.4
|
|
|
$
|
523.6
|
|
|
$
|
547.8
|
|
Weighted average ordinary shares outstanding:
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
|
149,183,049
|
|
|
152,047,963
|
|
|
149,420,087
|
|
|
152,772,067
|
|
Diluted
|
|
|
|
150,268,424
|
|
|
154,623,339
|
|
|
151,457,921
|
|
|
155,220,984
|
|
Net income per ordinary share:
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
|
$
|
1.34
|
|
|
$
|
1.44
|
|
|
$
|
3.50
|
|
|
$
|
3.59
|
|
Diluted
|
|
|
|
$
|
1.33
|
|
|
$
|
1.42
|
|
|
$
|
3.46
|
|
|
$
|
3.53
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SCHEDULE 2
|
|
CAPRI HOLDINGS LIMITED AND SUBSIDIARIES
CONSOLIDATED
BALANCE SHEETS
(In millions, except share data)
(Unaudited)
|
|
|
|
December 29, 2018
|
|
March 31, 2018
|
|
December 30, 2017
|
Assets
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
$
|
264.5
|
|
|
$
|
163.1
|
|
|
$
|
317.1
|
|
Receivables, net
|
|
291.2
|
|
|
290.5
|
|
|
288.0
|
|
Inventories
|
|
764.7
|
|
|
660.7
|
|
|
677.2
|
|
Prepaid expenses and other current assets
|
|
2,119.1
|
|
|
147.8
|
|
|
162.3
|
|
Total current assets
|
|
3,439.5
|
|
|
1,262.1
|
|
|
1,444.6
|
|
Property and equipment, net
|
|
543.6
|
|
|
583.2
|
|
|
599.4
|
|
Intangible assets, net
|
|
1,132.9
|
|
|
1,235.7
|
|
|
1,215.4
|
|
Goodwill
|
|
780.0
|
|
|
847.7
|
|
|
822.0
|
|
Deferred tax assets
|
|
47.2
|
|
|
56.2
|
|
|
64.7
|
|
Other assets
|
|
85.2
|
|
|
74.1
|
|
|
70.7
|
|
Total assets
|
|
$
|
6,028.4
|
|
|
$
|
4,059.0
|
|
|
$
|
4,216.8
|
|
Liabilities and Shareholders’ Equity
|
|
|
|
|
|
|
Current liabilities
|
|
|
|
|
|
|
Accounts payable
|
|
$
|
329.0
|
|
|
$
|
294.1
|
|
|
$
|
290.2
|
|
Accrued payroll and payroll related expenses
|
|
99.2
|
|
|
93.0
|
|
|
85.7
|
|
Accrued income taxes
|
|
22.5
|
|
|
77.6
|
|
|
68.7
|
|
Short-term debt
|
|
579.4
|
|
|
200.0
|
|
|
0.1
|
|
Accrued expenses and other current liabilities
|
|
357.3
|
|
|
295.6
|
|
|
277.4
|
|
Total current liabilities
|
|
1,387.4
|
|
|
960.3
|
|
|
722.1
|
|
Deferred rent
|
|
130.6
|
|
|
128.4
|
|
|
134.8
|
|
Deferred tax liabilities
|
|
181.6
|
|
|
186.3
|
|
|
217.0
|
|
Long-term debt
|
|
1,954.7
|
|
|
674.4
|
|
|
992.4
|
|
Other long-term liabilities
|
|
107.0
|
|
|
88.1
|
|
|
70.2
|
|
Total liabilities
|
|
3,761.3
|
|
|
2,037.5
|
|
|
2,136.5
|
|
Commitments and contingencies
|
|
|
|
|
|
|
Shareholders’ equity
|
|
|
|
|
|
|
Ordinary shares, no par value; 650,000,000 shares authorized;
213,432,129 shares issued and 148,313,496 outstanding at December
29, 2018; 210,991,091 shares issued and 149,698,407 outstanding at
March 31, 2018, and 210,302,628 shares issued and 152,167,403
outstanding at December 30, 2017
|
|
—
|
|
|
—
|
|
|
—
|
|
Treasury shares, at cost (65,118,633 shares at December 29, 2018;
61,292,684 shares at March 31, 2018; and 58,135,225 shares at
December 30, 2017)
|
|
(3,223.1
|
)
|
|
(3,015.9
|
)
|
|
(2,815.9
|
)
|
Additional paid-in capital
|
|
892.4
|
|
|
831.1
|
|
|
803.3
|
|
Accumulated other comprehensive (loss) income
|
|
(92.9
|
)
|
|
50.5
|
|
|
(18.4
|
)
|
Retained earnings
|
|
4,687.3
|
|
|
4,152.0
|
|
|
4,107.9
|
|
Total shareholders’ equity of Capri
|
|
2,263.7
|
|
|
2,017.7
|
|
|
2,076.9
|
|
Noncontrolling interest
|
|
3.4
|
|
|
3.8
|
|
|
3.4
|
|
Total shareholders’ equity
|
|
2,267.1
|
|
|
2,021.5
|
|
|
2,080.3
|
|
Total liabilities and shareholders’ equity
|
|
$
|
6,028.4
|
|
|
$
|
4,059.0
|
|
|
$
|
4,216.8
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SCHEDULE 3
|
|
CAPRI HOLDINGS LIMITED AND SUBSIDIARIES
CONSOLIDATED
SEGMENT DATA
($ in millions)
(Unaudited)
|
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
|
|
December 29, 2018
|
|
December 30, 2017
|
|
December 29, 2018
|
|
December 30, 2017
|
Revenue by Segment and Region:
|
|
|
|
|
|
|
|
|
MK Retail
|
|
The Americas
|
|
$
|
557.1
|
|
|
$
|
558.0
|
|
|
$
|
1,354.2
|
|
|
$
|
1,335.6
|
|
|
|
Europe
|
|
163.9
|
|
|
168.0
|
|
|
422.6
|
|
|
444.3
|
|
|
|
Asia
|
|
117.0
|
|
|
120.3
|
|
|
344.6
|
|
|
331.3
|
|
MK Retail Revenue
|
|
838.0
|
|
|
846.3
|
|
|
2,121.4
|
|
|
2,111.2
|
|
|
|
|
|
|
|
|
|
|
|
|
MK Wholesale
|
|
The Americas
|
|
311.4
|
|
|
338.2
|
|
|
940.8
|
|
|
905.8
|
|
|
|
EMEA
|
|
66.3
|
|
|
81.2
|
|
|
215.6
|
|
|
250.7
|
|
|
|
Asia
|
|
17.2
|
|
|
11.4
|
|
|
59.1
|
|
|
41.5
|
|
MK Wholesale Revenue
|
|
394.9
|
|
|
430.8
|
|
|
1,215.5
|
|
|
1,198.0
|
|
|
|
|
|
|
|
|
|
|
|
|
MK Licensing
|
|
The Americas
|
|
29.2
|
|
|
29.4
|
|
|
67.6
|
|
|
70.2
|
|
|
|
EMEA
|
|
14.3
|
|
|
18.9
|
|
|
38.8
|
|
|
45.0
|
|
MK Licensing Revenue
|
|
43.5
|
|
|
48.3
|
|
|
106.4
|
|
|
115.2
|
|
|
|
|
|
|
|
|
|
|
Michael Kors Revenue
|
|
1,276.4
|
|
|
1,325.4
|
|
|
3,443.3
|
|
|
3,424.4
|
|
|
|
|
|
|
|
|
|
|
|
|
Jimmy Choo
|
|
The Americas
|
|
29.1
|
|
|
21.0
|
|
|
75.1
|
|
|
21.0
|
|
|
|
EMEA
|
|
89.7
|
|
|
65.0
|
|
|
248.2
|
|
|
65.0
|
|
|
|
Asia
|
|
42.8
|
|
|
28.7
|
|
|
127.7
|
|
|
28.7
|
|
Jimmy Choo Revenue
|
|
161.6
|
|
|
114.7
|
|
|
451.0
|
|
|
114.7
|
|
|
|
|
|
|
|
|
|
|
Total Revenue
|
|
$
|
1,438.0
|
|
|
$
|
1,440.1
|
|
|
$
|
3,894.3
|
|
|
$
|
3,539.1
|
|
|
|
|
|
|
|
|
|
|
Income from Operations:
|
|
|
|
|
|
|
|
|
MK Retail
|
|
|
|
$
|
149.9
|
|
|
$
|
180.4
|
|
|
$
|
310.3
|
|
|
$
|
341.6
|
|
MK Wholesale
|
|
|
|
108.6
|
|
|
100.5
|
|
|
336.2
|
|
|
263.6
|
|
MK Licensing
|
|
|
|
26.0
|
|
|
26.9
|
|
|
44.9
|
|
|
51.1
|
|
Michael Kors
|
|
|
|
284.5
|
|
|
307.8
|
|
|
691.4
|
|
|
656.3
|
|
Jimmy Choo
|
|
|
|
5.5
|
|
|
5.7
|
|
|
3.2
|
|
|
5.7
|
|
Total Income from Operations
|
|
$
|
290.0
|
|
|
$
|
313.5
|
|
|
$
|
694.6
|
|
|
$
|
662.0
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Margin:
|
|
|
|
|
|
|
|
|
|
|
MK Retail
|
|
|
|
17.9
|
%
|
|
21.3
|
%
|
|
14.6
|
%
|
|
16.2
|
%
|
MK Wholesale
|
|
|
|
27.5
|
%
|
|
23.3
|
%
|
|
27.7
|
%
|
|
22.0
|
%
|
MK Licensing
|
|
|
|
59.8
|
%
|
|
55.7
|
%
|
|
42.2
|
%
|
|
44.4
|
%
|
Michael Kors
|
|
|
|
22.3
|
%
|
|
23.2
|
%
|
|
20.1
|
%
|
|
19.2
|
%
|
Jimmy Choo
|
|
|
|
3.4
|
%
|
|
5.0
|
%
|
|
0.7
|
%
|
|
5.0
|
%
|
Total Operating Margin
|
|
|
|
20.2
|
%
|
|
21.8
|
%
|
|
17.8
|
%
|
|
18.7
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SCHEDULE 4
|
|
CAPRI HOLDINGS LIMITED AND SUBSIDIARIES
SUPPLEMENTAL
RETAIL STORE INFORMATION
(Unaudited)
|
|
|
|
|
|
|
|
|
December 29, 2018
|
Retail Store Information:
|
|
|
|
|
Store Count
|
|
Square Footage
|
The Americas
|
|
|
|
|
401
|
|
|
1,381,279
|
Europe
|
|
|
|
|
198
|
|
|
535,627
|
Asia
|
|
|
|
|
271
|
|
|
589,912
|
Michael Kors
|
|
|
|
|
870
|
|
|
2,506,818
|
Jimmy Choo
|
|
|
|
|
206
|
|
|
267,407
|
Total Capri
|
|
|
|
|
|
|
1,076
|
|
|
2,774,225
|
|
|
|
|
|
|
|
|
|
|
|
|
SCHEDULE 5
|
|
CAPRI HOLDINGS LIMITED AND SUBSIDIARIES
CONSTANT
CURRENCY DATA
(In millions)
|
|
|
|
|
Three Months Ended
|
|
% Change
|
|
|
|
December 29, 2018
|
|
December 30, 2017
|
|
As Reported
|
|
Constant Currency
|
Total revenue:
|
|
|
|
|
|
|
|
|
|
MK Retail
|
|
|
$
|
838.0
|
|
$
|
846.3
|
|
(1.0)%
|
|
0.3%
|
MK Wholesale
|
|
|
394.9
|
|
430.8
|
|
(8.3)%
|
|
(7.8)%
|
MK Licensing
|
|
|
43.5
|
|
48.3
|
|
(9.9)%
|
|
(9.9)%
|
Michael Kors
|
|
|
1,276.4
|
|
1,325.4
|
|
(3.7)%
|
|
(2.7)%
|
Jimmy Choo
|
|
|
161.6
|
|
114.7
|
|
NM
|
|
NM
|
Total revenue
|
|
|
$
|
1,438.0
|
|
$
|
1,440.1
|
|
(0.1)%
|
|
1.1%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended
|
|
% Change
|
|
|
|
December 29, 2018
|
|
December 30, 2017
|
|
As Reported
|
|
Constant Currency
|
Total revenue:
|
|
|
|
|
|
|
|
|
|
MK Retail
|
|
|
$
|
2,121.4
|
|
|
$2,111.2
|
|
0.5%
|
|
0.5%
|
MK Wholesale
|
|
|
1,215.5
|
|
|
1,198.0
|
|
1.5%
|
|
1.4%
|
MK Licensing
|
|
|
106.4
|
|
|
115.2
|
|
(7.6)%
|
|
(7.6)%
|
Michael Kors
|
|
|
3,443.3
|
|
|
3,424.4
|
|
0.6%
|
|
0.5%
|
Jimmy Choo
|
|
|
451.0
|
|
|
114.7
|
|
NM
|
|
NM
|
Total revenue
|
|
|
$
|
3,894.3
|
|
|
$3,539.1
|
|
10.0%
|
|
10.2%
|
|
|
|
|
|
|
|
|
|
|
|
|
___________________
NM Not meaningful
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SCHEDULE 6
|
|
NON-GAAP RECONCILIATIONS OF REPORTED TO ADJUSTED MEASURES,
EXCLUDING
LONG-LIVED ASSET IMPAIRMENTS, RESTRUCTURING AND OTHER CHARGES,
INVENTORY
STEP-UP RELATED TO JIMMY CHOO ACQUISITION, AND
FOREIGN
CURRENCY EFFECTS RELATED TO VERSACE ACQUISITION
(In
millions, except share and per share data)
(Unaudited)
|
|
|
|
Three Months Ended December 29, 2018
|
|
|
As Reported
|
|
Impairment Charges
|
|
Restructuring and Other Charges(1)
|
|
Inventory Step-up Adjustment
|
|
Acquisition Foreign Currency Effects
|
|
As Adjusted
|
Jimmy Choo gross profit
|
|
$
|
107.0
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
0.9
|
|
|
$
|
—
|
|
|
$
|
107.9
|
Total gross profit
|
|
$
|
873.2
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
0.9
|
|
|
$
|
—
|
|
|
$
|
874.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Michael Kors operating expense
|
|
$
|
481.6
|
|
|
$
|
(5.4
|
)
|
|
$
|
(10.2
|
)
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
466.0
|
Jimmy Choo operating expense
|
|
101.6
|
|
|
(0.5
|
)
|
|
(9.5
|
)
|
|
—
|
|
|
—
|
|
|
91.6
|
Total operating expenses
|
|
$
|
583.2
|
|
|
$
|
(5.9
|
)
|
|
$
|
(19.7
|
)
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
557.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MK Retail operating income
|
|
$
|
149.9
|
|
|
$
|
5.4
|
|
|
$
|
7.2
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
162.5
|
MK Wholesale operating income
|
|
108.6
|
|
|
—
|
|
|
2.6
|
|
|
—
|
|
|
—
|
|
|
111.2
|
MK Licensing operating income
|
|
26.0
|
|
|
—
|
|
|
0.4
|
|
|
—
|
|
|
—
|
|
|
26.4
|
Michael Kors operating income
|
|
284.5
|
|
|
5.4
|
|
|
10.2
|
|
|
—
|
|
|
—
|
|
|
300.1
|
Jimmy Choo operating income
|
|
5.5
|
|
|
0.5
|
|
|
9.5
|
|
|
0.9
|
|
|
—
|
|
|
16.4
|
Total income from operations
|
|
$
|
290.0
|
|
|
$
|
5.9
|
|
|
$
|
19.7
|
|
|
$
|
0.9
|
|
|
$
|
—
|
|
|
$
|
316.5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency loss
|
|
$
|
42.6
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
(42.1
|
)
|
|
$
|
0.5
|
Income before provision for income taxes
|
|
$
|
241.1
|
|
|
$
|
5.9
|
|
|
$
|
19.7
|
|
|
$
|
0.9
|
|
|
$
|
42.1
|
|
|
$
|
309.7
|
Provision for income taxes
|
|
$
|
41.7
|
|
|
$
|
1.5
|
|
|
$
|
2.7
|
|
|
$
|
0.2
|
|
|
$
|
(0.9
|
)
|
|
$
|
45.2
|
Net income attributable to Capri
|
|
$
|
199.6
|
|
|
$
|
4.4
|
|
|
$
|
17.0
|
|
|
$
|
0.7
|
|
|
$
|
43.0
|
|
|
$
|
264.7
|
Diluted net income per ordinary share - Capri
|
|
$
|
1.33
|
|
|
$
|
0.03
|
|
|
$
|
0.11
|
|
|
$
|
—
|
|
|
$
|
0.29
|
|
|
$
|
1.76
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
______________________
|
(1)
|
|
Includes store closure costs recorded in connection with the Retail
Fleet Optimization Plan and other restructuring initiatives, and
transaction and transition costs recorded in connection with the
acquisitions of Jimmy Choo Group Limited and Gianni Versace S.p.A.
|
|
|
|
|
SCHEDULE 7
|
|
NON-GAAP RECONCILIATIONS OF REPORTED TO ADJUSTED MEASURES,
EXCLUDING
LONG-LIVED ASSET IMPAIRMENTS, RESTRUCTURING AND OTHER CHARGES,
INVENTORY
STEP-UP RELATED TO JIMMY CHOO ACQUISITION, AND
FOREIGN
CURRENCY EFFECTS RELATED TO VERSACE ACQUISITION
(In
millions, except share and per share data)
(Unaudited)
|
|
|
|
Nine Months Ended December 29, 2018
|
|
|
As Reported
|
|
Impairment Charges
|
|
Restructuring and Other Charges(1)
|
|
Inventory Step-up Adjustment
|
|
Acquisition Foreign Currency Effects
|
|
As Adjusted
|
Gross profit
|
|
$
|
2,387.1
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
5.6
|
|
|
$
|
—
|
|
|
$
|
2,392.7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Michael Kors operating expense
|
|
$
|
1,394.0
|
|
|
$
|
(15.4
|
)
|
|
$
|
(26.1
|
)
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
1,352.5
|
Jimmy Choo operating expense
|
|
298.5
|
|
|
(1.8
|
)
|
|
(23.1
|
)
|
|
—
|
|
|
—
|
|
|
273.6
|
Total operating expenses
|
|
$
|
1,692.5
|
|
|
$
|
(17.2
|
)
|
|
$
|
(49.2
|
)
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
1,626.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MK Retail operating income
|
|
$
|
310.3
|
|
|
$
|
15.4
|
|
|
$
|
17.8
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
343.5
|
MK Wholesale operating income
|
|
336.2
|
|
|
—
|
|
|
7.1
|
|
|
—
|
|
|
—
|
|
|
343.3
|
MK Licensing operating income
|
|
44.9
|
|
|
—
|
|
|
1.2
|
|
|
—
|
|
|
—
|
|
|
46.1
|
Michael Kors operating income
|
|
691.4
|
|
|
15.4
|
|
|
26.1
|
|
|
—
|
|
|
—
|
|
|
732.9
|
Jimmy Choo operating income
|
|
3.2
|
|
|
1.8
|
|
|
23.1
|
|
|
5.6
|
|
|
—
|
|
|
33.7
|
Total income from operations
|
|
$
|
694.6
|
|
|
$
|
17.2
|
|
|
$
|
49.2
|
|
|
$
|
5.6
|
|
|
$
|
—
|
|
|
$
|
766.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency loss
|
|
$
|
78.5
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
(72.5
|
)
|
|
$
|
6.0
|
Income before provision for income taxes
|
|
$
|
598.7
|
|
|
$
|
17.2
|
|
|
$
|
49.2
|
|
|
$
|
5.6
|
|
|
$
|
72.5
|
|
|
$
|
743.2
|
Provision for income taxes
|
|
$
|
76.0
|
|
|
$
|
3.4
|
|
|
$
|
6.7
|
|
|
$
|
1.1
|
|
|
$
|
(0.9
|
)
|
|
$
|
86.3
|
Net income attributable to Capri
|
|
$
|
523.6
|
|
|
$
|
13.8
|
|
|
$
|
42.5
|
|
|
$
|
4.5
|
|
|
$
|
73.4
|
|
|
$
|
657.8
|
Diluted net income per ordinary share - Capri
|
|
$
|
3.46
|
|
|
$
|
0.09
|
|
|
$
|
0.28
|
|
|
$
|
0.03
|
|
|
$
|
0.49
|
|
|
$
|
4.35
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
______________________
|
(1)
|
|
Includes store closure costs recorded in connection with the Retail
Fleet Optimization Plan and other restructuring initiatives, and
transaction and transition costs recorded in connection with the
acquisitions of Jimmy Choo Group Limited and Gianni Versace S.p.A.
|
|
|
|
|
SCHEDULE 8
|
|
NON-GAAP RECONCILIATIONS OF REPORTED TO ADJUSTED MEASURES,
EXCLUDING
LONG-LIVED ASSET IMPAIRMENTS,
RESTRUCTURING AND OTHER
CHARGES,
INVENTORY STEP-UP RELATED TO JIMMY CHOO
ACQUISITION, AND
DERIVATIVE CONTRACT RELATED TO
ACQUISITION OF JIMMY CHOO
(In millions, except share
and per share data)
(Unaudited)
|
|
|
|
Three Months Ended December 30, 2017
|
|
|
As Reported
|
|
Impairment Charges
|
|
Restructuring and Other Charges(1)
|
|
Inventory Step-up Adjustment
|
|
Acquisition Price Derivative Contract
|
|
As Adjusted
|
Jimmy Choo gross profit
|
|
$
|
72.5
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
1.6
|
|
|
$
|
—
|
|
|
$
|
74.1
|
|
Total gross profit
|
|
$
|
884.0
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
1.6
|
|
|
$
|
—
|
|
|
$
|
885.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Michael Kors operating expense
|
|
$
|
503.6
|
|
|
$
|
(2.6
|
)
|
|
$
|
(19.6
|
)
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
481.4
|
|
Jimmy Choo operating expense
|
|
66.9
|
|
|
—
|
|
|
(8.4
|
)
|
|
—
|
|
|
—
|
|
|
58.5
|
|
Total operating expenses
|
|
$
|
570.5
|
|
|
$
|
(2.6
|
)
|
|
$
|
(28.0
|
)
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
539.9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MK Retail operating income
|
|
$
|
180.4
|
|
|
$
|
2.6
|
|
|
$
|
11.0
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
194.0
|
|
MK Wholesale operating income
|
|
100.5
|
|
|
—
|
|
|
7.3
|
|
|
—
|
|
|
—
|
|
|
107.8
|
|
MK Licensing operating income
|
|
26.9
|
|
|
—
|
|
|
1.3
|
|
|
—
|
|
|
—
|
|
|
28.2
|
|
Michael Kors operating income
|
|
307.8
|
|
|
2.6
|
|
|
19.6
|
|
|
—
|
|
|
—
|
|
|
330.0
|
|
Jimmy Choo operating income
|
|
5.7
|
|
|
—
|
|
|
8.4
|
|
|
1.6
|
|
|
—
|
|
|
15.7
|
|
Total income from operations
|
|
$
|
313.5
|
|
|
$
|
2.6
|
|
|
$
|
28.0
|
|
|
$
|
1.6
|
|
|
$
|
—
|
|
|
$
|
345.7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency loss (gain)
|
|
$
|
27.0
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
(32.0
|
)
|
|
$
|
(5.0
|
)
|
Income before provision for income taxes
|
|
$
|
278.3
|
|
|
$
|
2.6
|
|
|
$
|
28.0
|
|
|
$
|
1.6
|
|
|
$
|
32.0
|
|
|
$
|
342.5
|
|
Provision for income taxes
|
|
$
|
58.9
|
|
|
$
|
0.5
|
|
|
$
|
3.3
|
|
|
$
|
0.3
|
|
|
$
|
6.1
|
|
|
$
|
69.1
|
|
Net income attributable to Capri
|
|
$
|
219.4
|
|
|
$
|
2.1
|
|
|
$
|
24.7
|
|
|
$
|
1.3
|
|
|
$
|
25.9
|
|
|
$
|
273.4
|
|
Diluted net income per ordinary share - Capri
|
|
$
|
1.42
|
|
|
$
|
0.01
|
|
|
$
|
0.16
|
|
|
$
|
0.01
|
|
|
$
|
0.17
|
|
|
$
|
1.77
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
______________________
|
(1)
|
|
Includes store closure costs recorded in connection with the Michael
Kors Retail Fleet Optimization Plan, as well as transaction and
transition costs recorded in connection with the acquisition of
Jimmy Choo Group Limited.
|
|
|
|
|
SCHEDULE 9
|
|
NON-GAAP RECONCILIATIONS OF REPORTED TO ADJUSTED MEASURES,
EXCLUDING
LONG-LIVED ASSET IMPAIRMENTS,
RESTRUCTURING AND OTHER
CHARGES,
INVENTORY STEP-UP RELATED TO JIMMY CHOO
ACQUISITION, AND
DERIVATIVE CONTRACT RELATED TO
ACQUISITION OF JIMMY CHOO
(In millions, except share
and per share data)
(Unaudited)
|
|
|
|
Nine Months Ended December 30, 2017
|
|
|
As Reported
|
|
Impairment Charges
|
|
Restructuring and Other Charges(1)
|
|
Inventory Step-up Adjustment
|
|
Acquisition Price Derivative Contract
|
|
As Adjusted
|
Gross profit
|
|
$
|
2,149.5
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
1.6
|
|
|
$
|
—
|
|
|
$
|
2,151.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Michael Kors operating expense
|
|
$
|
1,420.6
|
|
|
$
|
(18.9
|
)
|
|
$
|
(42.9
|
)
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
1,358.8
|
|
Jimmy Choo operating expense
|
|
66.9
|
|
|
—
|
|
|
(8.4
|
)
|
|
—
|
|
|
—
|
|
|
58.5
|
|
Total operating expenses
|
|
$
|
1,487.5
|
|
|
$
|
(18.9
|
)
|
|
$
|
(51.3
|
)
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
1,417.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MK Retail operating income
|
|
$
|
341.6
|
|
|
$
|
18.9
|
|
|
$
|
25.4
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
385.9
|
|
MK Wholesale operating income
|
|
263.6
|
|
|
—
|
|
|
14.9
|
|
|
—
|
|
|
—
|
|
|
278.5
|
|
MK Licensing operating income
|
|
51.1
|
|
|
—
|
|
|
2.6
|
|
|
—
|
|
|
—
|
|
|
53.7
|
|
Michael Kors operating income
|
|
656.3
|
|
|
18.9
|
|
|
42.9
|
|
|
—
|
|
|
—
|
|
|
718.1
|
|
Jimmy Choo operating income
|
|
5.7
|
|
|
—
|
|
|
8.4
|
|
|
1.6
|
|
|
—
|
|
|
15.7
|
|
Total income from operations
|
|
$
|
662.0
|
|
|
$
|
18.9
|
|
|
$
|
51.3
|
|
|
$
|
1.6
|
|
|
$
|
—
|
|
|
$
|
733.8
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency gain
|
|
$
|
(14.7
|
)
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
4.7
|
|
|
$
|
(10.0
|
)
|
Income before provision for income taxes
|
|
$
|
667.5
|
|
|
$
|
18.9
|
|
|
$
|
51.3
|
|
|
$
|
1.6
|
|
|
$
|
(4.7
|
)
|
|
$
|
734.6
|
|
Provision for income taxes
|
|
$
|
119.9
|
|
|
$
|
3.4
|
|
|
$
|
7.6
|
|
|
$
|
0.3
|
|
|
$
|
(0.9
|
)
|
|
$
|
130.3
|
|
Net income attributable to Capri
|
|
$
|
547.8
|
|
|
$
|
15.5
|
|
|
$
|
43.7
|
|
|
$
|
1.3
|
|
|
$
|
(3.8
|
)
|
|
$
|
604.5
|
|
Diluted net income per ordinary share - Capri
|
|
$
|
3.53
|
|
|
$
|
0.10
|
|
|
$
|
0.28
|
|
|
$
|
0.01
|
|
|
$
|
(0.03
|
)
|
|
$
|
3.89
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
______________________
|
(1)
|
|
Includes store closure costs recorded in connection with the Michael
Kors Retail Fleet Optimization Plan, as well as transaction and
transition costs recorded in connection with the acquisition of
Jimmy Choo Group Limited.
|
|
|
|
|
SCHEDULE 10
|
|
CAPRI FINANCIAL OUTLOOK
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FY 2020
|
|
|
FY 2021
|
|
|
FY 2022
|
REVENUE
|
|
|
APPROXIMATELY $6.1B
|
|
|
MID SINGLE DIGIT GROWTH
|
|
|
MID SINGLE DIGIT GROWTH
|
MK REVENUE
|
|
|
APPROXIMATELY $4.55B
|
|
|
LOW SINGLE DIGIT GROWTH
|
|
|
LOW SINGLE DIGIT GROWTH
|
JC REVENUE
|
|
|
APPROXIMATELY $650M
|
|
|
DOUBLE DIGIT GROWTH
|
|
|
DOUBLE DIGIT GROWTH
|
VERSACE REVENUE
|
|
|
APPROXIMATELY $900M
|
|
|
DOUBLE DIGIT GROWTH
|
|
|
DOUBLE DIGIT GROWTH
|
ADJUSTED OPERATING MARGIN*
|
|
|
APPROXIMATELY 15.5%
|
|
|
APPROXIMATELY 16%
|
|
|
APPROXIMATELY 17%
|
MK OPERATING MARGIN*
|
|
|
STABLE
|
|
|
STABLE
|
|
|
STABLE
|
JC OPERATING MARGIN*
|
|
|
IMPROVING
|
|
|
HIGH SINGLE DIGITS
|
|
|
MID TEENS
|
VERSACE OPERATING MARGIN*
|
|
|
FLAT
|
|
|
MID SINGLE DIGITS
|
|
|
LOW DOUBLE DIGITS
|
ADJUSTED NET INCOME*
|
|
|
LOW SINGLE DIGIT GROWTH
|
|
|
DOUBLE DIGIT GROWTH
|
|
|
DOUBLE DIGIT GROWTH
|
ADJUSTED EPS*
|
|
|
APPROXIMATELY $4.95
|
|
|
DOUBLE DIGIT GROWTH
|
|
|
DOUBLE DIGIT GROWTH
|
|
|
|
|
|
|
|
|
|
|
*US GAAP RESULTS ADJUSTED FOR SPECIAL ITEMS
View source version on businesswire.com:
https://www.businesswire.com/news/home/20190206005189/en/
Investor Relations:
Katina Metzidakis
(201) 514-8234
InvestorRelations@CapriHoldings.com
Media:
Dinesh
Kandiah
(917) 934-2427
Press@CapriHoldings.com
Source: Capri Holdings Limited