Capri Holdings
CPRINYSEUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $21.73 Prior regular-session close from the quote source.
- $20.75–$21.61 Regular-session low and high so far today.
- 3.0M Regular-session shares traded · Nov 11, 4:00 PM ET.
- Feb 2 projected Projected for 2027-02-02 from the company’s own results filings (SEC 8-K Item 2.02). The company has not confirmed the date.
- $12.40–$28.27 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own CPRI if Capri can reassert profitable growth by leaning on Michael Kors s dominant, high-margin accessories business, simplifying the portfolio after the Versace sale, and using a targeted cost/transformation program to convert brand desirability into predictable cash.
CPRI price history
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Investment thesis
What must happen next
Michael Kors will remain the company's primary cash engine because its accessories-led product mix, global retail + e-commerce footprint, and brand DNA preserve pricing power and higher DTC margins versus alternatives, so company revenue and cash flow stabilize around Michael.HoldingMateriality: High
Item 1 Business: Michael Kors accounted for approximately 83% of total revenue in Fiscal 2026. If Michael Kors sustains pricing and DTC leverage, Capri can stabilize revenue and fund margin-restoration efforts; if it loses premium positioning, consolidated revenue and cash flow will keep sliding.
Watch: Sustained market share loss to larger luxury houses (e.g., LVMH or Kering) pulling consumers away from Michael Kors.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Item 1 Business: Michael Kors accounted for approximately 83% of total revenue in Fiscal 2026.
Open source ↗The company s Capri transformation program, corporate cost control and post-Versace simplification can restore operating-profitability (operating income) by cutting structural costs (ERP/corporate overhead) faster than any loss in wholesale margin, turning modest top-line recovery into outsized operating-income gains.HoldingMateriality: High
MD&A: management cites Capri transformation program and ERP-related costs as material items to be managed. Operating_income recovery converts brand-driven revenue into real earnings and cash; if transformation fails, small revenue gains won't produce durable profits and leverage will remain problematic.
Watch: Inability to realize projected transformation/ERP savings or one-time implementation overruns.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
MD&A: management cites Capri transformation program and ERP-related costs as material items to be managed.
Open source ↗Selling Versace simplifies the portfolio and should reduce capital intensity and headline volatility from cross-brand complexity, making free-cash-generation from continuing operations more predictable and enabling directed deleveraging or strategic reinvestment.StrengtheningMateriality: Medium
MD&A: Versace was classified as discontinued operations and the sale was completed on December 2, 2025. A simpler, concentrated brand mix improves management focus and makes cash flows more forecastable; if proceeds are squandered or liabilities remain, simplification won't deliver value.
Watch: Proceeds from the sale used for non-value-accretive purposes (e.g., dividends/buybacks that leave leverage unchanged).
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
MD&A: Versace was classified as discontinued operations and the sale was completed on December 2, 2025.
Open source ↗Capri's brands and storytelling can convert long-term luxury market recovery (per Bain forecasts) and younger consumer re-entry into measurable revenue and margin upside because heritage + targeted product assortments drive repeat purchase and higher ASPs in accessories.HoldingMateriality: Medium
Item 1 Business: Bain's long-term forecast of 4%-6% CAGR in personal luxury goods and management emphasis on strengthening brand desirability. If brand-driven demand returns, revenue and gross profit should expand faster than costs; if the brand fails to resonate, recovery will be limited and margins pressured.
Watch: A continued secular loss of luxury consumers (Bain: ~80M consumers exited the category) that reduces addressable demand.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Item 1 Business: Bain's long-term forecast of 4%-6% CAGR in personal luxury goods and management emphasis on strengthening brand desirability.
Open source ↗The company's thin shareholder equity and near-parity of assets and liabilities constrain strategic flexibility: Capri must convert operating cash flow into debt reduction or else financing risk and constrained capital allocation will cap upside.StrengtheningMateriality: Medium
Fundamentals: stockholders' equity fell to $80,000,000 as of 2026-03-28, down materially from prior years. If cash flows are directed to deleveraging, shareholder value can be rebuilt; if leverage remains or equity erodes further, the company may be forced into value-destructive measures or face refinancing stress.
Watch: Inability to generate sustained positive operating_cash_flow to pay down debt.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Fundamentals: stockholders' equity fell to $80,000,000 as of 2026-03-28, down materially from prior years.
Open source ↗
Full investment case & evidence
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Original research
Michael Kors will remain the company's primary cash engine because its accessories-led product mix, global retail + e-commerce footprint, and brand DNA preserve pricing power and higher DTC margins versus alternatives, so company revenue and cash flow stabilize around Michael. If Michael Kors sustains pricing and DTC leverage, Capri can stabilize revenue and fund margin-restoration efforts; if it loses premium positioning, consolidated revenue and cash flow will keep sliding.
The company s Capri transformation program, corporate cost control and post-Versace simplification can restore operating-profitability (operating income) by cutting structural costs (ERP/corporate overhead) faster than any loss in wholesale margin, turning modest top-line recovery into outsized operating-income gains. Operating_income recovery converts brand-driven revenue into real earnings and cash; if transformation fails, small revenue gains won't produce durable profits and leverage will remain problematic.
Selling Versace simplifies the portfolio and should reduce capital intensity and headline volatility from cross-brand complexity, making free-cash-generation from continuing operations more predictable and enabling directed deleveraging or strategic reinvestment. A simpler, concentrated brand mix improves management focus and makes cash flows more forecastable; if proceeds are squandered or liabilities remain, simplification won't deliver value.
Capri's brands and storytelling can convert long-term luxury market recovery (per Bain forecasts) and younger consumer re-entry into measurable revenue and margin upside because heritage + targeted product assortments drive repeat purchase and higher ASPs in accessories. If brand-driven demand returns, revenue and gross profit should expand faster than costs; if the brand fails to resonate, recovery will be limited and margins pressured.
The company's thin shareholder equity and near-parity of assets and liabilities constrain strategic flexibility: Capri must convert operating cash flow into debt reduction or else financing risk and constrained capital allocation will cap upside. If cash flows are directed to deleveraging, shareholder value can be rebuilt; if leverage remains or equity erodes further, the company may be forced into value-destructive measures or face refinancing stress.
All standing thesis claims
Original report summary
Capri can reassert profitable growth by leaning on Michael Kors s dominant, high-margin accessories business, simplifying the portfolio after the Versace sale, and using a targeted cost/transformation program to convert brand desirability into predictable cash.
Bull case and bear case
Bull case and bear case for Capri Holdings
Where the evidence on Capri Holdings stands: Holding on the latest evidence (Nov 3, 2026). Of its 5 thesis points, 2 strengthening and 3 holding.
Bull case: what the evidence supports
Michael Kors will remain the company's primary cash engine because its accessories-led product mix, global retail + e-commerce footprint, and brand DNA preserve pricing power and higher DTC margins versus alternatives, so company revenue and cash flow stabilize around Michael.
The company s Capri transformation program, corporate cost control and post-Versace simplification can restore operating-profitability (operating income) by cutting structural costs (ERP/corporate overhead) faster than any loss in wholesale margin, turning modest top-line recovery into outsized operating-income gains.
Selling Versace simplifies the portfolio and should reduce capital intensity and headline volatility from cross-brand complexity, making free-cash-generation from continuing operations more predictable and enabling directed deleveraging or strategic reinvestment.
Capri's brands and storytelling can convert long-term luxury market recovery (per Bain forecasts) and younger consumer re-entry into measurable revenue and margin upside because heritage + targeted product assortments drive repeat purchase and higher ASPs in accessories.
The company's thin shareholder equity and near-parity of assets and liabilities constrain strategic flexibility: Capri must convert operating cash flow into debt reduction or else financing risk and constrained capital allocation will cap upside.
Bear case: what would count against it
Sustained market share loss to larger luxury houses (e.g., LVMH or Kering) pulling consumers away from Michael Kors.
Inability to realize projected transformation/ERP savings or one-time implementation overruns.
Proceeds from the sale used for non-value-accretive purposes (e.g., dividends/buybacks that leave leverage unchanged).
Thesis-Break Engine
What has broken in Capri Holdings’s thesis
Each break OptimistFi flagged on Capri Holdings, dated — with what has historically followed the same kind of break across the market, not a forecast for Capri Holdings.
- Price target fell below the stockcondition set before this filing
Across all companies, this kind of break has happened 1,809 times before. Those stocks trailed comparable companies by a median of 1% over the next six months, and 33% of them trailed it by 10 points or more.
MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedReported results of operations (earnings release).
Capri Holdings filed an SEC 8-K on 2026-10-30: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
- MixedOther material event.
Capri Holdings filed an SEC 8-K on 2026-09-16: Other material event. It is a dated development that tests the current thesis.
- MixedReported results of operations (earnings release).
Capri Holdings filed an SEC 8-K on 2026-08-05: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- Sustained market share loss to larger luxury houses (e.g., LVMH or Kering) pulling consumers away from Michael Kors.
- Inability to realize projected transformation/ERP savings or one-time implementation overruns.
- Proceeds from the sale used for non-value-accretive purposes (e.g., dividends/buybacks that leave leverage unchanged).
- A continued secular loss of luxury consumers (Bain: ~80M consumers exited the category) that reduces addressable demand.
- Inability to generate sustained positive operating_cash_flow to pay down debt.
CPRI news
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Financial statements
CPRI income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
CPRI: quick answers
- When does Capri Holdings (CPRI) report earnings next?
- Capri Holdings's next results are projected for February 2, 2027, from the dates of its own results filings with the SEC. The company has not confirmed the date. It last reported on October 30, 2026. Earnings calendar
- What is CPRI's short interest?
- As of October 30, 2026, 10.8M CPRI shares were sold short, 10.4% of its shares outstanding, down 24.8% from the count before. At the stock's average daily volume that is 2.9 days to cover. FINRA publishes the count twice a month. CPRI short interest history
- Have members of Congress traded CPRI?
- 4 trades in CPRI have been disclosed under the STOCK Act by members of Congress, the President or senior officials, none in reports made public in the last 90 days. Every disclosed CPRI trade
- Which well-known investors own CPRI?
- 1 of the 37 well-known funds tracked here reported CPRI shares in their latest 13F filing. By share of the fund's portfolio: Fairfax Financial (Prem Watsa), 0.1%. Fund portfolios
CPRI in well-known investors’ portfolios
1 of 37 funds reported CPRI shares in their latest 13F filing. A 13F shows quarter-end positions and arrives up to 45 days later.
| Fund | Of its portfolio | Value | Change | Quarter |
|---|---|---|---|---|
| Prem WatsaFairfax Financial | 0.05% | $1.5M | No change | Q2 2026 |