Capri Holdings Q4: Earnings Beat, 10.5% Revenue Decline, Near-Term Uncertainties In The Americas & More


27% profit every 20 days?

This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.


  • Capri Holdings Ltd (NYSE:CPRI) reported a fourth-quarter FY23 sales decline of 10.5% year-on-year to $1.33 billion, beating the analyst consensus estimate of $1.28 billion.
  • Versace revenue decreased 13% Y/Y to $274 million, Jimmy Choo revenue fell 3.2% to $151 million, and Michael Kors revenue contracted 10.9% to $910 million.
  • Gross profit was $867 million, and gross margin expanded 80 basis points to 64.9%. Adjusted gross margin expanded 90 basis points to 64.6%.
  • The operating loss for the quarter was $(40) million compared to an income of $119 million last year.
  • Operating expenses increased 8.4% Y/Y to $907 million.
  • The company held $249 million in cash and equivalents as of Apr.1, 2023.
  • Adjusted EPS of $0.97 beat the analyst consensus of $0.94.
  • Net inventory as of Apr. 1, 2023, was $1.057 billion, a 3.6% decrease Y/Y.
  • In Q4, the company repurchased approximately 8.5 million ordinary shares for $400 million in open market transactions.
  • As of Apr.1, 2023 the remaining availability under the company's share repurchase program was $400 million.
  • "With Versace, Jimmy Choo and Michael Kors we have three incredibly powerful brands to drive our future growth. While we recognize that there are near-term uncertainties in the Americas, we are encouraged by the strong trends in Asia and continued growth in EMEA. Looking to fiscal 2024, we anticipate revenue will increase low-single-digits and earnings per share will increase mid-single-digits," said John D. Idol, Chairman and CEO.
  • Outlook: Capri sees Q1 revenue of ~$1.2 billion against the Street view of $1.3 billion. It sees Q1 EPS of $0.70.
  • For FY24, the company sees revenue of ~$5.7 billion versus the $5.74 billion estimate. It expects FY24 Adjusted EPS of $6.40 versus the Street view of $6.29.
  • Price Action: CPRI shares are trading lower by 1.97% at $38.80 in premarket on the last check Wednesday.

27% profit every 20 days?

This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.


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