Capri Holdings appoints new Chief Brand and Product Officer

NEW YORK - Capri Holdings Limited (NYSE:CPRI), a prominent luxury fashion group with a market capitalization of $2.69 billion and impressive gross profit margins of 64%, has announced the elevation of Philippa Newman to the position of Chief Brand and Product Officer, effective immediately. Newman's promotion is part of a strategic move designed to enhance the synergy between product development and marketing within the company. According to InvestingPro data, the company currently appears undervalued based on its Fair Value calculations.

Having been a part of Michael Kors for over 16 years, Newman's latest role as Chief Product Officer has seen her play a crucial role in product innovation and the formulation of growth strategies. Her new responsibilities will involve unifying the brand experience in alignment with the company's heritage. Newman's focus will be on delivering fashion and core products that resonate strongly with consumers and on fostering engagement across all brand touchpoints.

John D. Idol, Chairman and CEO of Capri Holdings and Michael Kors, commended Newman's exceptional leadership and deep understanding of the brand. He emphasized that the consolidation of product and marketing under Newman's leadership will promote a consistent brand vision and enhance global consumer connections.

Philippa Newman expressed her honor in stepping into the role during a transformative period for the brand. She is set to collaborate closely with Idol, Michael Kors, and their teams to implement effective product and brand strategies that aim for sustained growth.

The announcement underscores Michael Kors' commitment to evolving its brand, engaging consumers, and innovating products, positioning the company for future success. While the company's stock has faced challenges with a 52% decline over the past year, InvestingPro analysis reveals several positive indicators, including expected net income growth and strong shareholder yield. InvestingPro subscribers have access to 10+ additional exclusive insights about Capri Holdings' financial health and growth prospects.

Capri Holdings is a global conglomerate that owns Versace, Jimmy Choo, and Michael Kors, each known for their distinctive style and craftsmanship. Listed on the New York Stock Exchange, the company generates annual revenue of $4.63 billion and maintains a current ratio of 1.21, indicating stable short-term liquidity. Capri Holdings prides itself on the unique DNA and heritage of its brands, the dedication of its diverse workforce, and its commitment to clients and communities.

The information for this article is based on a press release statement.

In other recent news, Capri Holdings experienced a decline in Q4 earnings, missing analyst expectations. The company reported adjusted earnings per share of $0.45, falling short of the expected $0.68, with a revenue drop of 11.6% YoY to $1.26 billion. Across its portfolio, Versace revenue fell 15%, Jimmy Choo sales declined 4.2%, and Michael Kors revenue dropped 12.1% compared to the same quarter last year.

BofA Securities reinstated coverage on Capri Holdings, assigning a Neutral rating with a $23.00 price target. The firm's analysis indicates sales and earnings have declined for nine consecutive quarters. Despite this, management at Capri Holdings anticipates a return to sales growth in the fiscal year 2027, with strategic initiatives expected to positively impact performance.

Bernstein analysts maintained their Market Perform rating and $22.00 price target for Capri Holdings. The company's management is shifting gears to expand its presence in the Wholesale market, lowering prices, and targeting a wider audience of shoppers looking for value in the affordable luxury segment. These recent developments reflect the company's strategic measures to address its financial health and return to a growth trajectory.

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