Capri Holdings Ltd

Capri Holdings Limited amended its existing credit agreement, reducing the aggregate commitments under its revolving credit facility from $1.5 billion to $1.0 billion. The maturity of these commitments has been extended to June 24, 2031, establishing a new 2026 Revolving Credit Facility. This facility is secured by substantially all of the company's assets and registered intellectual property, and includes a net leverage ratio covenant of no greater than 4.0 to 1, with provisions for temporary increases during material acquisitions.

Capri Holdings Ltd announced that Stephen Reitman will not seek re-election to its Board of Directors at the upcoming 2026 Annual Meeting of Shareholders. His term is set to conclude on July 29, 2026. The company clarified that Mr. Reitman's decision is due to retirement and not a result of any disagreement with the company's operations, policies, or practices.

Capri Holdings Limited has filed its Definitive Proxy Statement for the 2026 Annual Meeting of Shareholders, scheduled for July 29, 2026, in London. Key agenda items include the election of directors, ratification of Ernst & Young LLP as auditor, an advisory vote on executive compensation, and the approval of the Fifth Amended and Restated Omnibus Incentive Plan. The Board size will decrease to seven directors following the retirement of Stephen F. Reitman. Shareholders of record as of June 1, 2026, are eligible to vote, and proxy materials will be available online around June 16, 2026.

Capri Holdings reported Fiscal 2026 total revenue of $3.474 billion, a decrease from $3.621 billion in Fiscal 2025. The Michael Kors segment accounted for 83% of total revenue at $2.874 billion, while Jimmy Choo contributed 17% with $600 million. The company is focused on strengthening brand desirability, leveraging group expertise, and executing strategies to return Michael Kors to $4 billion in revenue and grow Jimmy Choo to $800 million over time, including expanding Jimmy Choo's women's accessories to at least 30% of revenue.

Capri Holdings Limited announced its fourth quarter and full year fiscal 2026 results, highlighting a return to profitability. The company reported adjusted earnings per share of $0.22 for Q4 FY26, a significant improvement from a loss in the prior year. Strategic initiatives for Michael Kors and Jimmy Choo are showing traction, leading to confidence in future growth. Capri Holdings provided a positive outlook for fiscal year 2027, projecting low-single-digit revenue growth and approximately 40% adjusted EPS growth. The company also noted a $65 million IEEPA tariff refund receivable and completed the sale of its Versace business.

Capri Holdings Limited announced that Krista McDonough, its Chief Legal and Sustainability Officer, has voluntarily resigned from her position to pursue another professional opportunity. Ms. McDonough notified the company of her decision on April 6, 2026, with her resignation becoming effective on June 26, 2026. This leadership change marks a transition in a key executive role responsible for both legal affairs and the company's growing sustainability initiatives. Capri Holdings has initiated a search process to identify a successor for Ms. McDonough.