Latest news with #CapriHoldings
Yahoo
5 days ago
- Business
- Yahoo
Abercrombie, GameStop & bitcoin, Capri: Trending Tickers
Abercrombie (ANF) stock is skyrocketing after the retailer reported an earnings beat and lifted its full-year outlook. GameStop (GME) announced that it has purchased bitcoin (BTC-USD) valued at more than $500 million. Coach's parent company, Capri Holdings (CPRI), is in focus after cutting its fiscal 2026 outlook and posting fourth quarter results that highlighted the potential impact of tariffs. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. Now time for some of today's trending tickers. We are watching Abercrombie, GameStop and Capri Holdings. First up, Abercrombie surging after raising its full year outlook. The retailer also reporting better than expected first quarter results as it draws in more shoppers. Take a look at shares up 28% on the back of this earnings report here. A couple of things though to call out here, and I don't I don't want to kind of take all of the wind out of their sails here, but thinking through some of the segment revenue here, you actually did see some declines for Abercrombie. Hollister though putting the team on its back with growth there of about 10 and a half ish percent during the quarter. And then same store sales, this was interesting because net higher by about 37%, but Abercrombie was uh pretty big drag at least within the same store sales percentage declines that they had seen. So, uh that is something worth keeping an eye on. Also the inventory growth, uh clearly they were trying to front run some of the impacts of tariffs. I think that number came in at about 214% inventory growth year-over-year. Yeah, well, and it's really important to know that the stock uh at least prior to this print on Tuesday's close was down over 45% year to date, obviously making up a lot of those gains right now. Uh having said that, it's interesting that in their guidance they know a $50 million hit due to tariffs. It seems like investors are happy to at least have that clarity from the company. The forecast including the estimated impact on tariffs uh come of goods coming in from China, um and all other global imports, that 10% baseline tariff, but it did not include the current reciprocal tariffs that the president announced on his so-called liberation day on April 2nd. So, those are obviously being negotiated right now. Abercrombie did not take that into account. They did take into account a 30% tariff on Chinese imports and a 10% baseline tariff. And the street obviously applauding their ability to do that, but it is fascinating that they're getting such a pat on the back when nobody has clarity on those so-called reciprocal tariffs at this point in time. All right, next up, GameStop is announcing a crypto purchase, acquiring 4,710 Bitcoin. This is the first publicly acknowledged Bitcoin purchase by GameStop since the company did announce plans to move into Bitcoin investments back in March. Shares up a little over 1 and a half percent here, but really interesting. And we've talked with sources about this on the show previously, Brad. The idea that GameStop is sort of trying to position itself as a Bitcoin company going forward. And what is that going to look like, especially given that they've gone through so many iterations, obviously a consumer facing company and then a meme stock, and now potentially the next crypto giant. Yeah, hit the strategy button here. And at the end of the day, as you think about all of the companies that are trying to figure out, okay, on our balance sheet, how much of the investor story and the sentiment is also something that in this Venn diagram might cross over with some of those who are also Bitcoin holders too. The the gamers out there are some of the earliest earliest adopters to cryptocurrency. And so it seems right that GameStop would make a move like this, but why not sooner? Why not earlier? Um, but this is another effort to try and make sure that the stock could be tied into some of the moves of something, well, dare I say fundamental, like just the holdings of crypto here. Yeah, absolutely. Also here we're tracking Capri Holdings, cutting its fiscal 2026 outlook due to uncertainty around tariffs. Still, the Michael Kors owner topped fourth quarter revenue estimates as it's focusing on its turnaround plan. You're taking a look at shares here on the back of this down by about 1 and a quarter percent or 1.2% right now. Um, one of the things that actually caught my eye within Capri and the results that we had seen here, the company also is still expecting total revenue of about $3.3 to $3.4 billion. EPS earnings per share for 2026 of approximately $1.20 to $1.40. That's the range that they provided right now. Yeah, lowering that annual forecast seems to be of course the sticking point though. They did uh have quarterly revenue topping estimates on some of their turnaround efforts. They are working to revive some parts of the business. And remember, of course, this comes after the uh attempted merger with uh the coach parent company Tapestry last year that obviously did not go through. Uh having said that, some commentary from Capri's CEO I have up here saying they're confident in their ability to grow Michael Kors to 4 billion in revenue, Jimmy Choo to 800 million over time, while restoring operating margins to the double digit range here. And they did know, this is a really important check on the consumer that buyers in North America have scaled back their spending on high-end goods. So, perhaps seeing a little bit of an impact of that wealth effect there. And I should mention you can scan the QR code below to track the best and worst performing stocks of the session with Yahoo finances trending tickers page.
Asharq Al-Awsat
5 days ago
- Business
- Asharq Al-Awsat
Michael Kors-Owner Capri Posts Quarterly Revenue Above Estimates
Capri Holdings on Wednesday beat estimates for fourth-quarter revenue as its focus on reviving sales at its Michael Kors brand with new designs helped bring back shoppers. Capri has narrowed down its focus on Michael Kors fashion brand following a failed attempt to merge with rival and Coach-parent Tapestry last year. In April, the company sold its underperforming Versace label to Italian rival Prada in a $1.38 billion deal. "We are confident in our ability to grow Michael Kors to $4 billion in revenue and Jimmy Choo to $800 million over time, while restoring operating margin to the double-digit range," Capri CEO John Idol said. Consumers in North America have scaled back spending on high-end goods amid concerns over looming price hikes on everyday essentials and discretionary items in the coming months due to higher supply chain costs fueled by new tariffs. The company now expects total annual revenue in the range of $3.3 billion to $3.4 billion, accounting for Versace now as part of discontinued operations. The forecast excludes changes in global macroeconomic conditions, tariff rates, higher inflation or weakening consumer confidence, Capri said. It posted a 15.4% drop in revenue to $1.04 billion for the quarter ended March 29, compared with analysts' average estimate of a 19.3% decline to $986.57 million, according to data compiled by LSEG.
Fibre2Fashion
6 days ago
- Business
- Fibre2Fashion
US' Capri expects $3.4 bn revenue for FY26, clocks in $4.44 bn in FY25
American fashion conglomerate Capri Holdings has released its fiscal 2026 (FY26) guidance, projecting revenue between $3.3 billion and $3.4 billion. The operating income is expected to be around $100 million, inclusive of anticipated tariff effects. The diluted earnings per share for FY26 are forecast between $1.20 and $1.40, based on an estimated 119 million weighted average diluted shares outstanding. Inventory levels are projected to decline in the mid-single-digit range, while capital expenditures are expected to total around $110 million. Capri Holdings has forecast revenue of $3.3â€'$3.4 billion in FY26, with operating income of $100 million and EPS of $1.20â€'$1.40. Its Q1 revenue is expected at $765â€'$780 million. FY25 revenue fell to $4.44 billion, with a net loss of $1.18 billion. The company entered an agreement to sell Versace to Prada for $1.38 billion. Michael Kors and Jimmy Choo posted Q4 revenue declines and lower margins. For its Michael Kors brand, Capri forecasts total revenue between $2.75 billion and $2.85 billion in FY26, with an operating margin in the high-single-digit range. Jimmy Choo is expected to generate revenue of $540 million to $550 million, with an operating margin in the negative mid-single-digit range, Capri Holdings said in a press release. For the first quarter (Q1) of FY26, the company expects total revenue to range between $765 million and $780 million, with an operating margin projected to be approximately break-even. The net interest income is forecast at around $15 million, with an effective tax rate of about 15 per cent. The company anticipates diluted earnings per share between $0.10 and $0.15, based on roughly 119 million weighted average diluted shares outstanding. Brand-wise, Michael Kors is expected to generate revenue between $615 million and $625 million in Q1 FY26, with an operating margin in the mid-single-digit range. Jimmy Choo is projected to contribute $150 million to $155 million in revenue, also with an operating margin around break-even. 'Fiscal 2025 was a challenging year for Capri Holdings, but we are optimistic about our path forward as we enter fiscal 2026. While there is uncertainty around the impact of tariffs on the global economic environment, we remain focused on executing against our new strategic initiatives that are designed to return Capri Holdings to future growth. The company is still in the early stages of its turnaround, and we are seeing positive indicators that our strategies are beginning to work,' said John D Idol, chairman and chief executive officer (CEO) at Capri Holdings. 'Looking ahead, we continue to expect trends to improve throughout fiscal year 2026 positioning us to return to growth in fiscal 2027 and beyond. We are confident in our ability to grow Michael Kors to $4 billion in revenue and Jimmy Choo to $800 million over time, while restoring operating margin to the double-digit range,' added Idol. Meanwhile, Capri Holdings reported total revenue of $4.44 billion in fiscal 2025 (FY25) ended March 29, down from $5.17 billion in FY24. The gross profit declined to $2.83 billion, while total operating expenses remained flat at $3.58 billion. The company reported a net loss of $1.18 billion for FY25, compared to a net loss of $229 million in FY24. Basic and diluted net loss per share stood at $10, sharply up from $1.96 year-over-year (YoY). Capri Holdings recently entered into a definitive agreement to sell Versace to Prada for $1.38 billion in cash, subject to certain adjustments. The transaction is anticipated to close in the second half of calendar 2025. From fiscal 2026 onwards, Versace will be reported as a discontinued operation, added the release. In its fourth quarter (Q4), Capri Holdings reported a 15.4 per cent YoY decline in total revenue to $1 billion, a 14.1 per cent decline on a constant currency basis. The gross profit stood at $631 million with a gross margin of 61 per cent, down 62.7 per cent YoY. The company recorded a loss from operations of $116 million with an operating margin falling 11.2 per cent. Adjusted loss from operations was $33 million. The net loss widened to $645 million or negative $5.44 per diluted share. The adjusted net loss was $581 million or negative $4.90 per diluted share. The net inventory rose 1 per cent YoY to $869 million, due to $60 million in early receipts. Brand-wise, Michael Kors has posted Q4 FY25 revenue of $694 million, down 15.6 per cent on a reported basis. Gross profit was $407 million with a margin of 58.6 per cent. The operating income fell to $32 million, with a 4.6 per cent margin compared to 14.1 per cent a Q4 FY24. Similarly, Jimmy Choo's revenue slipped 2.9 per cent to $133 million, with gross profit of $88 million and a margin of 66.2 per cent. The brand posted an operating loss of $10 million. Versace saw revenue decline of 21.2 per cent to $208 million, gross profit of $136 million with a margin of 65.4 per cent, and an operating loss of $13 million versus a modest operating income last fiscal. Fibre2Fashion News Desk (SG)
Yahoo
6 days ago
- Business
- Yahoo
Michael Kors Owner Capri Posts Wider-Than-Estimated Q4 Loss, Lowers Outlook
Shares in Capri Holdings, which last month struck a deal to sell its Versace luxury brand, are dropping in premarket trading Wednesday after the fashion conglomerate posted a larger-than-expected quarterly loss amid the trade war and lowered its full-year outlook. "There is uncertainty around the impact of tariffs on the global economic environment," Capri CEO John D. Idol said. Capri shares, which have lost more than 15% of their value this year entering Wednesday, are down around 1% in premarket in Capri Holdings (CPRI), which last month struck a deal to sell its Versace luxury brand, are dropping in premarket trading Wednesday after the fashion conglomerate posted a larger-than-expected quarterly loss amid the trade war and lowered its full-year outlook. The Michael Kors and Jimmy Choo parent reported a fiscal fourth-quarter adjusted loss of $4.90 per share, far wider than the adjusted loss of $0.16 per share expected by analysts surveyed by Visible Alpha. Revenue of $1.04 billion topped estimates of $986.6 million. "Fiscal 2025 was a challenging year for Capri Holdings, but we are optimistic about our path forward as we enter fiscal 2026,' Capri CEO John D. Idol said. 'While there is uncertainty around the impact of tariffs on the global economic environment, we remain focused on executing against our new strategic initiatives that are designed to return Capri Holdings to future growth.' Looking ahead, Capri projects total revenue of $3.3 billion to $3.4 billion for fiscal 2026 and earnings per share of $1.20 to $1.40. In the third quarter, Capri had forecast fiscal 2026 revenue of approximately $4.1 billion. The company, whose merger with Tapestry was blocked by a federal judge late last year, agreed last month to sell Italian luxury brand Versace to Prada for almost $1.4 billion. Versace will be classified as a discontinued business starting in fiscal 2026, Capri said Wednesday. Capri shares, which have lost more than 15% of their value this year entering Wednesday, are down around 1% in premarket trading. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Washington Post
6 days ago
- Business
- Washington Post
Capri Holdings: Fiscal Q4 Earnings Snapshot
LONDON — LONDON — Capri Holdings Limited (CPRI) on Wednesday reported a loss of $645 million in its fiscal fourth quarter. On a per-share basis, the London-based company said it had a loss of $5.44. Losses, adjusted for one-time gains and costs, came to $4.90 per share. The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 16 cents per share. The luxury retailer posted revenue of $1.03 billion in the period, topping Street forecasts. Four analysts surveyed by Zacks expected $982.8 million. For the year, the company reported a loss of $1.18 billion, or $10 per share. Revenue was reported as $4.44 billion. For the current quarter ending in June, Capri Holdings said it expects revenue in the range of $765 million to $780 million. The company expects full-year earnings to be $1.20 to $1.40 per share, with revenue ranging from $3.3 billion to $3.4 billion. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on CPRI at
