- CPRI’s gross margins have been very resilient despite topline headwinds, although doubts over the GSP program renewal could stall progress here.
- CPRI’s cash conversion cycle has improved significantly over the last two quarters and it has managed to pay down $800m of net debt this year.
- E-commerce sales have been a silver lining this year and the company recently hired a new CIO to accelerate its digital initiatives.
- Apparel and clothing data across CPRI’s key markets have been resilient for much of 2021 but there has been some sequential slowdown.
- Institutional interest in CPRI has recovered and the stock is hovering close to the upper boundary of a long-term descending channel.
For further details see:
Capri Holdings: What's In Store