$CPRI

Michael Kors Holdings Ltd

CIK:0001530721|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended
	Jun. 27, 2026	Jun. 28, 2025
Income Statement [Abstract]
Total revenue	$ 769	$ 797
Cost of goods sold	269	295
Gross profit	500	502
Selling, general and administrative expenses	451	455
Depreciation and amortization	29	30
Restructuring and other expense	3	1
Total operating expenses	483	486
Income from continuing operations	17	16
Other income, net	(3)	(1)
Interest income, net	(31)	(18)
Foreign currency gain	(1)	(5)
Income from continuing operations before income taxes	52	40
Benefit for income taxes	(18)	(16)
Net income from continuing operations	70	56
Net loss from discontinued operations, net of tax	0	(3)
Net income	70	53
Less: Net income attributable to noncontrolling interest from continuing operations	1	0
Net income attributable to Capri	$ 69	$ 53
Weighted average ordinary shares outstanding:
Basic (in shares)	115,424,288	118,799,819
Diluted (in shares)	116,039,226	119,107,663
Net income (loss) per ordinary share attributable to Capri:
Basic from continuing operations (in dollars per share)	$ 0.60	$ 0.47
Basic from discontinued operations (in dollars per share)	0	(0.03)
Basic per ordinary share (in dollars per share)	0.60	0.44
Diluted from continuing operations (in dollars per share)	0.60	0.47
Diluted from discontinued operations (in dollars per share)	0	(0.03)
Diluted per ordinary share (in dollars per share)	$ 0.60	$ 0.44
Statements of Comprehensive Income (Loss):
Net income	$ 70	$ 53
Foreign currency translation adjustments	28	(451)
Net gain (loss) on derivatives	2	(2)
Comprehensive income (loss)	100	(400)
Less: Net income attributable to noncontrolling interest	1	0
Comprehensive income (loss) attributable to Capri	$ 99	$ (400)

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Jun. 27, 2026	Jun. 28, 2025
Cash flows from operating activities
Net income	$ 70	$ 53
Net loss from discontinued operations, net of tax	0	(3)
Net income from continuing operations	70	56
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	29	30
Share-based compensation expense	13	14
Deferred income taxes	(29)	(17)
Changes to lease related balances, net	(9)	(18)
Foreign currency adjustments	4	(1)
Other non-cash adjustments	2	1
Change in assets and liabilities:
Receivables, net	23	50
Inventories, net	(45)	(55)
Prepaid expenses and other current assets	9	(16)
Accounts payable	40	15
Accrued expenses and other current liabilities	(31)	(34)
Other long-term assets and liabilities	(3)	(5)
Net cash provided by operating activities of continuing operations	73	20
Net cash used in operating activities of discontinued operations	0	(28)
Net cash provided by (used in) operating activities	73	(8)
Cash flows from investing activities
Capital expenditures	(25)	(13)
Net cash used in investing activities of continuing operations	(25)	(13)
Net cash used in investing activities of discontinued operations	0	(6)
Net cash used in investing activities	(25)	(19)
Cash flows from financing activities
Debt borrowings	485	597
Debt repayments	(504)	(502)
Debt issuance costs	(3)	0
Repurchase of ordinary shares	(54)	(1)
Net cash (used in) provided by financing activities of continuing operations	(76)	94
Net cash used in financing activities of discontinued operations	0	0
Net cash (used in) provided by financing activities	(76)	94
Effect of exchange rate changes on cash, cash equivalents and restricted cash	8	(32)
Net (decrease) increase in cash, cash equivalents and restricted cash	(20)	35
Beginning of period	145	175
End of period	125	210
Supplemental disclosures of cash flow information
Cash paid for interest	3	15
Net cash paid for income taxes	6	46
Supplemental disclosure of non-cash investing and financing activities
Accrued capital expenditures	6	15
Summary of cash, cash equivalents and restricted cash
Cash, cash equivalents and restricted cash of continuing operations, end of period	125	139
Cash, cash equivalents and restricted cash of discontinued operations, end of period	0	71
Cash, cash equivalents and restricted cash, end of period	$ 125	$ 210

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 27, 2026	Mar. 28, 2026
Current assets
Cash and cash equivalents	$ 114	$ 135
Receivables, net	188	211
Inventories, net	624	581
Prepaid expenses and other current assets	217	226
Total current assets	1,143	1,153
Property and equipment, net	359	371
Operating lease right-of-use assets	855	854
Intangible assets, net	554	562
Goodwill	201	202
Other assets	98	92
Total assets	3,210	3,234
Current liabilities
Accounts payable	350	311
Accrued payroll and payroll related expenses	87	122
Accrued income taxes	32	23
Short-term operating lease liabilities	227	233
Short-term debt	14	14
Accrued expenses and other current liabilities	251	251
Total current liabilities	961	954
Long-term operating lease liabilities	827	830
Deferred tax liabilities	68	88
Long-term debt	324	343
Other long-term liabilities	887	935
Total liabilities	3,067	3,150
Commitments and contingencies
Shareholders’ equity
Ordinary shares, no par value; 650,000,000 shares authorized; 230,248,252 shares issued and 113,609,022 outstanding at June 27, 2026; 229,042,390 shares issued and 115,175,268 outstanding at March 28, 2026	0	0
Treasury shares, at cost (116,639,230 shares at June 27, 2026 and 113,867,122 shares at March 28, 2026)	(5,597)	(5,543)
Additional paid-in capital	1,525	1,512
Accumulated other comprehensive loss	(293)	(323)
Retained earnings	4,503	4,434
Total shareholders’ equity of Capri	138	80
Noncontrolling interest	5	4
Total shareholders’ equity	143	84
Total liabilities and shareholders’ equity	$ 3,210	$ 3,234