Capri Q4 revenue down 8.4%, adjusted EPS $0.42; FTC lawsuit continues

Capri Holdings Ltd

2024-FY EPS reported -$1.96 revenue$5,170,000,000

Total revenue $1.223B, down 8.4% reported (7.9% constant currency) vs prior year.
Adjusted EPS $0.42 vs $0.97; GAAP net loss $472M ($4.03 loss per share) on non-cash impairments.
Versace revenue -3.6%, Jimmy Choo -9.3%, Michael Kors -9.7%; all brands cite softening luxury demand.
FTC filed lawsuit to block pending Tapestry acquisition; Capri vows to vigorously defend.
No financial guidance provided due to pending merger; free cash flow outflow $6M in Q4.

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