Capri Holdings Limited · NYSE:CPRI
Capri — Q2 2023 Earnings Presentation
12 slides from Capri's earnings presentation, Nov 9, 2022
Slide 1: 2Q Fiscal Year 2023 Earnings Presentation
2Q Fiscal Year 2023 Earnings Presentation November 9, 2022
Slide 2: Second Quarter Fiscal 2023 Highlights
SECOND QUARTER FISCAL 2023 HIGHLIGHTS • Revenue increased 9% (+18% Constant Currency) • Increased customer database by 20% versus prior year o Representing the largest increase in history • Adjusted operating margin of 19.8%, above expectations • Delivered record adjusted EPS of $1.79 • Authorized n
Slide 3: 2Q23 Highlights
2Q23 HIGHLIGHTS • Revenue increased 9% (+28% Constant Currency) • Global database increased over 40% year-over-year • Women’s accessories retail sales increased ~ 60% • Operating margin of 20.1%, above expectations 3
Slide 4: 2Q23 Highlights
2Q23 HIGHLIGHTS • Revenue increased 4% (+15% Constant Currency) • Global database increased 30% year-over-year • Women’s accessories retail sales increased ~30% • Operating margin of 5.6%, above expectations 4
Slide 5: 2Q23 Highlights
2Q23 HIGHLIGHTS • Revenue increased 9% (+15% Constant Currency) • Global database increased 17% year-over-year • Women’s accessories retail sales increased MSD • Operating margin of 25.8%, above expectations 5
Slide 6: Fiscal Year 2023 Outlook
FISCAL YEAR 2023 OUTLOOK 3Q 4Q FY23 Revenue ~$1.53B ~$1.4B ~$5.7B Versace ~$240M ~$1.15B Jimmy Choo ~$180M ~$640M Michael Kors ~$1.11B ~$3.91B Adjusted Operating Margin ~20.5% ~14% ~18.3% Versace HSD ~16% Jimmy Choo HSD ~5% Michael Kors mid-to-high 20% ~25% Adjusted EPS ~$2.20 ~$1.35 ~$6.85 6
Slide 7: Non-GAAP Measures
NON-GAAP MEASURES This presentation includes certain non-GAAP financial measures that exclude certain costs associated with COVID-19 related charges, ERP implementation costs, Capri transformation costs, impairment charges, restructuring and other charges. The Company uses non-GAAP financial measure
Slide 8: Reconciliation of GAAP to Non-GAAP Financial Measures
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, except per share data) Three Months Ended October 1, 2022 Impairment Restructuring and COVID-19 ERP Capri As Reported Charges Other Charges (1) Related Charges Implementation Transformation As Adjusted Gross profit $ 951 $ — $ — $ (
Slide 9: Reconciliation of GAAP to Non-GAAP Financial Measures
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, except per share data) Six Months Ended October 1, 2022 Impairment Restructuring and COVID-19 ERP Capri As Reported Charges Other Charges (1) Related Charges Implementation Transformation As Adjusted Gross profit $ 1,852 $ — $ — $ (
Slide 10: Reconciliation of GAAP to Non-GAAP Financial Measures
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, except per share data) Three Months Ended September 25, 2021 Impairment Restructuring and COVID-19 ERP Capri As Reported Charges Other Charges (1) Related Charges Implementation Transformation As Adjusted Gross profit $ 884 $ — $ —
Slide 11: Reconciliation of GAAP to Non-GAAP Financial Measures
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, except per share data) Six Months Ended September 25, 2021 Impairment Restructuring and COVID-19 ERP Capri As Reported Charges Other Charges (1) Related Charges Implementation Transformation As Adjusted Gross profit $ 1,740 $ — $ —
Slide 12: Safe Harbor Statement
SAFE HARBOR STATEMENT This presentation 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 Holdi