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Top related persons:
John Idol - 3 Kate Spade - 3 Stuart Weitzman - 3 Jimmy Choo - 3 Michael Kors - 3 Capri's Versace - 2 Joanne Crevoiserat - 2 Tapestry - 1
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U.S American China Capri Bengaluru
Top related orgs:
Capri - 3 Capri Holdings - 2 Federal Trade Commission - 1 FTC - 1 Disney - 1 Bank of America - 1 Dior - 1 Inc - 1

Search resuls for: "John Idol"


5 mentions found


☆ Capri and Tapestry abandon plans to merge, citing regulatory hurdles
  + stars: | 2024-11-14 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com   time to read: +2 min
Capri and Tapestry called off their merger on Thursday after the Federal Trade Commission successfully sued to block the megadeal. "With the termination of the merger agreement, we are now focusing on the future of Capri and our three iconic luxury houses," Capri CEO John Idol said in a statement. In April, the FTC sued to block the deal, saying the tie-up would disadvantage consumers and reduce benefits for the companies' employees. Tapestry plans to fund the stock repurchase through a combination of cash on hand and debt. Tapestry said it will reimburse Capri around $45 million.
Persons: John Idol, Kate Spade, Stuart Weitzman, Capri's Versace, Jimmy Choo, Michael Kors, Tapestry, Joanne Crevoiserat Organizations: Federal Trade Commission, FTC, Capri Locations: U.S
☆ Coach owner Tapestry to acquire Michael Kors, Jimmy Choo parent Capri Holdings for $8.5 billion
  + stars: | 2023-08-10 | by ( Gabrielle Fonrouge Melissa Repko | Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com   time to read: +2 min
Tapestry , the fashion conglomerate behind Coach and Kate Spade, will acquire competitor Capri Holdings in a $8.5 billion deal announced on Thursday. It brings together six fashion brands: Tapestry's Coach, Kate Spade and Stuart Weitzman and Capri's Versace, Jimmy Choo and Michael Kors. Shares of Capri surged 58% in premarket trading to just under the per-share deal price, while shares of Tapestry roughly 4%. It's started to run a similar playbook with Kate Spade. Tapestry has also looked other parts of the world to drive growth, such as chasing higher sales in China.
Persons: Kate Spade, Stuart Weitzman, Capri's Versace, Jimmy Choo, Michael Kors, Kirsten Dunst, It's, We've, Joanne Crevoiserat, John Idol, Morgan Stanley Organizations: Capri Holdings, Capri, Disney, Bank of America Locations: American, China
☆ Coach owner creates US luxury giant with $8.5 bln deal for Michael Kors parent
  + stars: | 2023-08-10 | by ( Aishwarya Venugopal | ) www.reuters.com   time to read: +2 min
Aug 10 (Reuters) - Coach parent Tapestry (TPR.N) will buy Michael Kors owner Capri Holdings (CPRI.N) in a deal valued at $8.5 billion, creating a top U.S. fashion house that can better compete with larger European rivals in the global luxury market. Tapestry will pay Capri shareholders $57 per share in cash, or $6.69 billion, representing a premium of nearly 65%. In the same year, Capri, formerly known as Michael Kors, acquired British shoemaker Jimmy Choo for $1.2 billion. LVMH, the world's largest luxury group, closed its $15.8 billion acquisition of Tiffany in early 2021. The Wall Street Journal first reported about a potential deal between Capri and Tapestry late on Wednesday.
Persons: Michael Kors, Tapestry's, Kate Spade, Stuart Weitzman, Jimmy Choo, Versace, Tiffany, Louis Vuitton, Neil Saunders, John Idol, Capri, Gucci, Valentino, LVMH, Chandni Shah, Aishwarya Venugopal, Sonia Cheema Organizations: Capri Holdings, Capri, Dior, Inc, Street Journal, Thomson Locations: U.S, Capri, Bengaluru
☆ Warren Buffett's heir apparent bought nearly $25 million of Berkshire stock
  + stars: | 2023-03-24 | by ( Brian Sullivan Jesse Pound | Brian Sullivan | Jesse Pound | ) www.cnbc.com   time to read: +3 min
Berkshire Hathaway vice president Gregory Abel bought nearly $25 million worth of Berkshire's class A stock last week, filings show. He previously bought $68 million worth of Berkshire stock in September. Berkshire's class A shares, and the "Baby Berkshire" class B shares, both have dropped about 3.4% this year, underperforming the S & P 500. Berkshire Hathaway vice chair Greg Abel bought $24.6 million worth of Berkshire's class A stock on March 17. Capri Holdings CEO John Idol bought nearly $10 million worth of stock on March 16.
☆ Michael Kors owner Capri shares plunge after revenue falls across the retailer's luxury brands
  + stars: | 2023-02-08 | by ( Noah Sheidlower | ) www.cnbc.com   time to read: +2 min
Shares of Michael Kors owner Capri Holdings plunged 20% in early trading Wednesday after the company missed earnings expectations and cut its annual profit forecast. Here's how the company did:Earnings per share: $1.84 vs. $2.22 expected by analysts, according to Refinitiv. Revenue: $1.51 billion vs. $1.53 billion expected by analysts, according to Refinitiv. Revenue fell across the company's luxury brands: Michael Kors revenue fell 7.2% year over year to $1.1 billion, Jimmy Choo revenue fell 5.6% to $168 million, and Versace revenue fell 0.8% to $249 million. Capri said it now expects full year 2023 sales of $5.56 billion, below analyst expectations of $5.72 billion, according to Refinitiv.
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