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In a challenging retail environment, Capri Holdings Limited (NYSE:CPRI), the parent company of luxury fashion brands including Michael Kors, has seen its stock price tumble to $16.76, trading near its 52-week low. With a gross profit margin of 64%, the company maintains strong pricing power despite market pressures. InvestingPro analysis suggests the stock is currently undervalued. This latest price point underscores a period of significant decline for the company, with a 56.7% drop in stock value over the past year. The fashion conglomerate, which also owns Versace and Jimmy Choo, has been grappling with a shifting luxury market and broader economic pressures. While 15 analysts have revised earnings downward, InvestingPro data reveals expectations for net income growth this year, suggesting potential recovery opportunities.
In other recent news, Capri Holdings has announced a significant leadership transition, with Thomas J. Edwards, Jr., the current Executive Vice President, Chief Financial Officer, and Chief Operating Officer, set to leave the company by June 2025. Rajal Mehta, the CFO of Michael Kors, will serve as the Interim CFO for Capri Holdings. Additionally, Capri Holdings revealed that Dario Vitale will become the new Chief Creative Officer for Versace, effective April 1, 2025, while Donatella Versace transitions to Chief Brand Ambassador. This leadership change is part of a broader strategic plan for the company.
Furthermore, reports have emerged that Prada (OTC:PRDSY) is nearing a deal to acquire Versace from Capri Holdings for approximately $1.6 billion. In another development, S&P Global has downgraded Capri Holdings’ credit rating to ’BB’ from ’BBB-’ due to ongoing performance pressures and high leverage. The company’s revenue fell 11.6% in the third fiscal quarter of 2025, with declines across all its brands, including Versace, Michael Kors, and Jimmy Choo. Capri Holdings plans to close a number of Michael Kors stores and focus on improving operating margins through various efficiency measures.
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