Capri Holdings Limited Raises Fiscal 2022 Guidance
29 Junho 2021 - 9:30AM
Business Wire
Capri Holdings Limited (NYSE:CPRI), a global fashion luxury
group, today announced that the Company raised its Fiscal 2022
revenue and adjusted earnings per share guidance. The updated
guidance, along with a broader view of the Company’s vision, growth
strategies and long term outlook, will be shared at the Company's
Virtual Investor Day today beginning at 9:00 a.m. Eastern Daylight
Time (EDT).
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The Company now expects Fiscal 2022 revenue to be approximately
$5.15 billion compared to previous guidance of approximately $5.10
billion, primarily reflecting better than anticipated fiscal first
quarter sales trends. As a result of the better than expected first
quarter outlook, the Company now expects Fiscal 2022 adjusted
earnings per share to be between $3.80 and $3.90 as compared to
prior guidance of $3.70 to $3.80.
John D. Idol, the Company’s Chairman and Chief Executive
Officer, said, "As the world reopens, we are pleased to be seeing
better than expected performance from all three of our iconic
fashion luxury houses and are raising our outlook for the year.
With greater visibility into the path of the global economic
recovery, we now have even more confidence in the future and
believe our three luxury houses position Capri Holdings to deliver
multiple years of strong revenue and earnings growth.”
To view the live Virtual Investor Day, please go to the website
at least 15 minutes early to register and download any necessary
software. Registration and access to the live webcast can be found
in the “Investor Relations” section of the Company's website
(www.capriholdings.com). A question and answer session will follow
the presentation and can be accessed through the webcast. A replay
of the event will be made accessible shortly after completion of
the event. Presentation materials will be made accessible shortly
before the event begins and will be archived on the Company’s
website following the conclusion of the presentation.
About Capri Holdings Limited
Capri Holdings Limited is a global fashion luxury group,
consisting of iconic brands that are industry leaders in design,
style and craftsmanship. Its brands cover the full spectrum of
fashion luxury categories including women’s and men’s accessories,
footwear and ready-to-wear as well as wearable technology, watches,
jewelry, eyewear and a full line of fragrance products. The
Company’s goal is to continue to extend the global reach of its
brands while ensuring that they maintain their independence and
exclusive DNA. Capri Holdings Limited is publicly listed on the New
York Stock Exchange under the ticker CPRI.
Forward Looking Statements
This press release contains statements which are, or may be
deemed to be, “forward-looking statements.” Forward-looking
statements are prospective in nature and are not based on
historical facts, but rather on current expectations and
projections of the management of Capri Holdings Limited (the
“Company”) about future events, and are therefore subject to risks
and uncertainties which could cause actual results to differ
materially from the future results expressed or implied by the
forward-looking statements. All statements other than statements of
historical facts included in this press release may be
forward-looking statements. Without limitation, any statements
preceded or followed by or that include the words “plans”,
“believes”, “expects”, “intends”, “will”, “should”, “could”,
“would”, “may”, “anticipates”, “might” or similar words or phrases,
are forward-looking statements. These forward-looking statements
are not guarantees of future financial performance. Such
forward-looking statements involve known and unknown risks and
uncertainties that could significantly affect expected results and
are based on certain key assumptions, which could cause actual
results to differ materially from those projected or implied in any
forward-looking statements. These risks, uncertainties and other
factors include the impact of the COVID-19 pandemic, levels of cash
flow and future availability of credit, compliance with restrictive
covenants under the Company’s credit agreement, the Company’s
ability to integrate successfully and to achieve anticipated
benefits of any acquisition and to successfully execute our growth
strategies; the risk of disruptions to the Company’s businesses;
risks associated with operating in international markets and our
global sourcing activities; the risk of cybersecurity threats and
privacy or data security breaches; the negative effects of events
on the market price of the Company’s ordinary shares and its
operating results; significant transaction costs; unknown
liabilities; the risk of litigation and/or regulatory actions
related to the Company’s businesses; fluctuations in demand for the
Company’s products; levels of indebtedness (including the
indebtedness incurred in connection with acquisitions); the timing
and scope of future share buybacks, which may be made in open
market or privately negotiated transactions, and are subject to
market conditions, applicable legal requirements, trading
restrictions under the Company’s insider trading policy and other
relevant factors, and which share repurchases may be suspended or
discontinued at any time, the level of other investing activities
and uses of cash; changes in consumer traffic and retail trends;
loss of market share and industry competition; fluctuations in the
capital markets; fluctuations in interest and exchange rates; the
occurrence of unforeseen epidemics and pandemics, disasters or
catastrophes; political or economic instability in principal
markets; adverse outcomes in litigation; and general, local and
global economic, political, business and market conditions, as well
as those risks set forth in the reports that the Company files from
time to time with the U.S. Securities and Exchange Commission,
including the Company’s Annual Report on Form 10-K for the fiscal
year ended March 27, 2021 (File No. 001-35368). Any forward-looking
statement in this press release speaks only as of the date made and
the Company disclaims any obligation to update or revise any
forward-looking or other statements contained herein other than in
accordance with legal and regulatory obligations.
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version on businesswire.com: https://www.businesswire.com/news/home/20210629005376/en/
Investor Relations: Jennifer Davis (201) 514-8234
Jennifer.Davis@CapriHoldings.com
Media: Press@CapriHoldings.com
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