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Stock impact report

Versace Sale: Prada Wins Big, But Capri Holdings' Big Buyback Is A Major Red Flag [Seeking Alpha]

Capri Holdings Limited Ordinary Shares (CPRI) 
Last capri holdings limited ordinary shares earnings: 2/5 06:30 am Check Earnings Report
Company Research Source: Seeking Alpha
Capri Holdings Limited sells Versace at a $600M loss to address $2.74B net debt and focus on Michael Kors and Jimmy Choo. I reiterate a buy rating on Prada for its strategic acquisition and attractive EV/EBITDA valuation versus peers. Capri's plan to use Versace proceeds for a $1B buyback, despite high debt and weak profitability, signals short-sighted capital allocation; I rate CPRI a sell. Wirestock/iStock Editorial via Getty Images Now it is official: Prada S.p.A. ( OTCPK:PRDSY buys Versace for $1.38 billion . This figure is much lower than the $2 billion shelled out by Capri Holdings Limited ( CPRI back in 2018. This acquisition shakes up This article was written by Analyst's Disclosure: I/we have a beneficial long position in the shares of HESAY either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relati Show less Read more
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