Tariffs and trade policymixed · 5 filings
“The 280 basis point increase in gross profit margin was primarily attributable to higher full price sell-throughs and lower U.S.”10-Q · Aug 5, 2026 ↗
Capri Holdings Limited
CPRI
Market read
Capri Holdings Limited's current read is isolated; its market group is not confirming.
The latest filing evidence is available. 0 of 21 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 2 directly disclosed connections are confirming.
What changed
- Net income increased 30.2% versus the comparable filing period.
- Revenue decreased 3.5% versus the comparable filing period.
Company+7.8% todayVolume comparison unavailable
Market group0 of 21 activeNo Coherent Theme · unavailable
Disclosed network0 of 2 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- CPRI's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if CPRI's group or a disclosed connection begins moving with it.
Research brief
The story so far
The latest filing evidence is available. 0 of 21 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 2 directly disclosed connections are confirming.
Evidence that supports
- Net income increased 30.2% versus the comparable filing period.
- Operating cash flow covered net income at 1.06x, improving versus the comparable period.
Evidence that challenges
- Revenue decreased 3.5% versus the comparable filing period.
What would clarify the read
- CPRI's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations328
Usable filing statements134
Verified relationships4
Evidence supporting the case
- Operating margin changed +1.4 percentage points in the latest annual period.
- Net margin changed +36.6 percentage points in the latest annual period.
Evidence challenging the case
- Latest annual revenue changed -4.1% year over year.
- Tariffs and trade policy has repeated adverse evidence across 5 filings.
- Demand and volume has repeated adverse evidence across 4 filings.
Questions before a position
- P/E is 45% below the available filing-peer median; determine whether growth and quality justify the difference.
- EV/sales is 73% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 11, 2026
13.896m-24.1%12m-35.0%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2022-04-02$5.7B+39.3%$5.39+1.4%
2023-04-01$5.6B-0.6%$4.60-12.1%
2024-03-30$4.1B-26.3%$-1.96-11.9%
2025-03-29$3.6B-12.5%$-10.00+0.2%
2026-03-28$3.5B-4.1%$1.14+1.3%
What management says matters
Persistent and emerging business drivers
Capital investment and capacitymixed · 4 filings
“Cash Used in Investing Activities Net cash used in investing activities was $25 million during the three months ended June 27, 2026, as compared to net cash used in investing activities of $13 million during the three months ended June 28, 2025, which were at…”10-Q · Aug 5, 2026 ↗
Credit and interest ratesmixed · 4 filings
“The change in cash from financing activities was primarily attributable to lower debt borrowings under our revolving credit facilities combined with an incremental $53 million in share repurchases during the current period.”10-Q · Aug 5, 2026 ↗
Demand and volumenegative · 4 filings
“On a constant currency basis, revenue decreased $485 million, or 13.8%, primarily due to softening demand globally for fashion luxury goods, as well as the result of certain strategic initiatives previously put in place at Michael Kors that did not perform as…”10-K · May 27, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 0.5× · EV/sales 0.5×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
13.89+7.8% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for CPRI. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment
The latest filing shows material pressure
10-Q filed 2026-08-05 against the comparable filing from 2025-08-07.
OperationscautiousEvidence score -1
liquidityconstructiveEvidence score +1
valuationdiscount
Capital and cash conversion
Reported investment and cash context
- Capital spending YoY
- +92.3%
- Capital spending / revenue
- +3.3%
- Free-cash-flow margin
- +6.2%
- FCF margin change
- +8.9 pts
Capex, revenue, and operating cash flow are matched to the same reported duration. Reported accounting context, not a forecast or trading recommendation.
What improved
- Net income increased 30.2% versus the comparable filing period.
- Operating cash flow covered net income at 1.06x, improving versus the comparable period.
What weakened
- Revenue decreased 3.5% versus the comparable filing period.
Filing receipts
“Operating margin decreased from 9.9% for the three months ended June 28, 2025, to 9.3% for the three months ended June 27, 2026, primarily due to deleveraging of operating expenses on lower revenues compared to the prior year.”
“Operating margin improved from 2.5% for the three months ended June 28, 2025, to 7.3% for the three months ended June 27, 2026, primarily due to leveraging of operating expenses on higher revenues compared to the prior year.”
“On a constant currency basis, revenue increased $15 million, or 9.3%, primarily driven by growth across all channels, reflecting strong brand momentum and the continued success of our product and marketing initiatives.”
Historical filing backfill generated after the original filing window. It is not part of Jodie's live track record.
Business ecosystem
The relationships behind CPRI
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
TPRTapestry, Inc.partnerMay 27, 2026 ▾
“Termination of the Agreement and Plan of Merger with Tapestry As previously disclosed, on August 10, 2023, Capri entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Tapestry, a Maryland corporation, and Sunrise Merger Sub, Inc., a Briti…”
HSBCHSBC Holdings plclenderMay 27, 2026 ▾
“Hong Kong Credit Facilities As of March 28, 2026, the Company’s Hong Kong subsidiary, Michael Kors (HK) Limited and Subsidiaries (“MK Hong Kong”), had an uncommitted credit facility (“HK HSBC Credit Facility”) with HSBC Bank (“HSBC”), which may be used to fun…”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 2 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
CPRI is currently a Leader in the organic co-movement group No Coherent Theme. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 2 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for CPRI; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.