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    Katy Hallberg • TD Cowen

    Katy Hallberg's questions to Capri Holdings Ltd (CPRI) leadership

    Katy Hallberg's questions to Capri Holdings Ltd (CPRI) leadership • Q4 2025

    Question

    Katy Hallberg, on behalf of Oliver Chen at TD Cowen, asked about the specific actions within Capri's control to drive traffic and conversion in its retail channels amidst a volatile consumer environment.

    Answer

    Chairman and CEO John Idol explained that Capri is focusing on marketing initiatives, brand storytelling, and data analytics to engage consumers and drive store traffic. He acknowledged that while traffic has not yet turned positive, the rate of decline has significantly decelerated, particularly at full-price stores. Idol emphasized that brand desirability, or 'brand heat,' is the key to influencing traffic, and noted that conversion rates have historically been strong once customers are in the store. He expressed confidence that the current strategies are beginning to show positive results.

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    Katy Hallberg's questions to Capri Holdings Ltd (CPRI) leadership • Q4 2025

    Question

    Katy Hallberg, on behalf of Oliver Chen at TD Cowen, asked about the specific actions within Capri's control that are helping to drive traffic and conversion in its retail channels, especially given the volatile consumer backdrop.

    Answer

    Chairman & CEO John Idol explained that the company is focused on influencing traffic through targeted marketing, enhanced storytelling, and data analytics to engage new and existing consumers. He noted that while traffic has not yet turned positive, the rate of decline has decelerated significantly, and full-price AURs have turned positive. Idol emphasized that Michael Kors has historically maintained strong conversion rates, so the primary focus is on driving footfall by increasing brand desirability and 'brand heat' through these strategic initiatives.

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