Capri Holdings Limited: FY4Q26 Review: Tariff-Driven Beat Clouds Underlying Turn in Progress

研报英文原文证据摘录

Capri Holdings Limited: FY4Q26 Review: Tariff-Driven Beat Clouds Underlying Turn in Progress

Equity Research

U.S. Specialty Retail, Apparel & Footwear

27 May 2026

Capri Holdings Limited

FY4Q26 Review: Tariff-Driven Beat

Clouds Underlying Turn in

CPRI OVERWEIGHTProgress

Unchanged

FY4Q26 EPS of $0.22 beat (vs. cons. $0.11) on better GM due U.S. Specialty Retail, POSITIVE Apparel & Footwear

Unchangedto a ~$40mn COGS benefit from a tariff refund receivable.

FY27 guidance for EBIT and EPS came in above consensus, Price Target USD 24.00 Unchanged

including underlying GM expansion. FY1Q27 EPS guidance Price (26-May-26) USD 18.50

Potential Upside/Downside +29.7%was also above consensus, driven by a better tax rate and

Source: Bloomberg, Barclays Research

share count.

Market Cap (USD mn) 2204

Shares Outstanding (mn) 119.16

Free Float (%) 97.64

52 Wk Avg Daily Volume (mn) 2.9

THE 2026 EXTEL SURVEY IS NOW OPEN Dividend Yield (%) N/A

Return on Equity TTM (%) -85.93

Support our industry-leading Current BVPS (USD) 0.88

analysts with 5-Star votes in Source: Bloomberg

this year’s Extel All-America Price Performance Exchange-NYSE

Research Survey 52 Week range USD 28.27-16.22

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Source: IDC

Link to Barclays Live for interactive charting

JOIN US: June 9, 2026: Barclays 5th Annual Greater Los Angeles Supply Chain Tour. (click

here). Exclusive global macro trade dinner with the CEO of the Port of Long Beach. Gain first-

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hand investable intelligence on the pulse of global trade, oil shock impact, macro demand, and Footwear

supply chain disruption. Adrienne Yih

+1 212 526 5257

Tariff-Driven Beat Clouds Underlying Turn in Progress; A Return to Growth in FY27. CPRI adrienne.yih@barclays.com

delivered a FY4Q26 EPS beat of $0.22 vs. cons.