4Q Fiscal Year 2023 Earnings Presentation
(1)
(2)
(3)
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
(In millions, except per share data)
Gross profit
Operating expenses
Total (loss) income from operations
Foreign currency loss (gain)
(Loss) income before provision for income
taxes
(Benefit) for income taxes
Net (loss) income attributable to Capri
Weighted average diluted ordinary
shares outstanding
Diluted net (loss) income per ordinary
share - Capri
$
LA
$
LA
As
Reported
867
907
Impairment
of Assets
$
(40) $
20 $
123,327,209
(70) $
(37) $
(34) $
$ (0.28) $
Restructuring
and Other
Charges (1)
(130) $
130 $
T
69
130 $
12 $
118
0.95 $
5 $
(14) $
19
5
14
0.11
6A
$
$
$
$
Three Months Ended April 1, 2023
COVID-19
Related
Charges
ERP
Implementation (2)
3) $
T
6A
(3) $
(3) $
(1)
(2)
69 69
(0.02) $
(5)
Capri
Transformation (3)
|
$
5 $
LA
69
LA
$
0.04 $
$
(24) $
24 $
|
(A
24 $
3 $
21 $
0.17 $
War in
Ukraine
(1) $
(1) $
|
1
69
As
Adjusted
863
742
121
6
105
(17)
121
124,859,442
0.97
Amounts impacting operating expenses primarily includes charges recorded in connection with the acquisition of Gianni Versace S.r.l. The foreign currency exchange loss represents a charge recognized in conjunction with restructuring
activities to rationalize certain legal entities within our structure.
Represents a multi-year ERP implementation which includes accounting, finance and wholesale and retail inventory solutions in order to create standardized finance IT applications across our organization. This ERP implementation will
continue through Fiscal 2026 and we expect expenditures up to $170 million over the next three fiscal years.
The Capri transformation program represents a multi-year, multi-project initiative extending through Fiscal 2026 intended to improve the operating effectiveness and efficiency of our organization by creating best in class shared platforms
across our brands and by expanding our digital capabilities. These initiatives cover multiple aspects of our operations including supply chain, marketing, omni-channel customer experience, e-commerce, data analytics and IT
infrastructure. Over the next three fiscal years, we expect expenditures up to $220 million related to these efforts.View entire presentation