2 unchanged sentences
Our ordinary shares trade on the NYSE under the symbol “CPRI”.
−Removed: At March 27, 2021, there were 151,280,011 ordinary shares outstanding, and the closing price of our ordinary shares was $50.18.
+Added: At April 2, 2022, there were 142,806,269 ordinary shares outstanding, and the closing price of our ordinary shares was $50.99.
Also as of that date, we had approximately 127 ordinary shareholders of record.
Share Performance Graph
−Removed: The line graph below compares the cumulative total shareholder return on our ordinary shares with the Standard & Poor’s ("S&P") 500 Stock Index, the S&P 500 Apparel, Accessories & Luxury Goods Index, the S&P Retailing Index, and a prior peer group of companies (the "Prior Peer Group") for the five-year period from April 1, 2016 through March 26, 2021, the last business day of our fiscal year.
−Removed: The Prior Peer Group consists of the following companies:
−Removed: Tapestry, Inc., Guess?, Inc., PVH Corp., L Brands, Inc., Ralph Lauren Corporation, Tiffany & Co.
−Removed: and VF Corporation.
−Removed: During Fiscal 2021, management re-assessed the companies that comprise the S&P Retailing Index and determined that the S&P 500 Apparel, Accessories & Luxury Goods Index is a more appropriate comparison given the composition of companies it contains.
−Removed: In this transition year, the share performance graph below includes the comparative performance of the newly selected index and the previously reported indices.
−Removed: Going forward, we will show a comparison of return on our ordinary shares with the S&P 500 Stock Index and the S&P 500 Apparel, Accessories & Luxury Goods Index only.
−Removed: The graph below assumes an investment of $100 made at the closing of trading on April 1, 2016, in our ordinary shares and each of the indices presented.
+Added: The line graph below compares the cumulative total shareholder return on our ordinary shares with the Standard & Poor’s (“S&P”) 500 Stock Index and the S&P 500 Apparel, Accessories & Luxury Goods Index for the five-year period from March 31, 2017 through April 1, 2022, the last business day of our fiscal year.
+Added: The graph below assumes an investment of $100 made at the close of trading on March 31, 2017, in our ordinary shares and each of the indices presented.
All values assume reinvestment of the full amount of all dividends, if any, into additional shares of the same class of equity securities at the frequency with which dividends are paid on such securities during the applicable time period.
Issuer Purchases of Equity Securities
−Removed: Our share repurchases were made under our $500 million share repurchase program, which was approved by our Board of Directors on August 1, 2019.
−Removed: During the first quarter of Fiscal 2021, the Company suspended its $500 million share-repurchase program in response to the continued impact of the COVID-19 pandemic.
+Added: During the first quarter of Fiscal 2022, we reinstated our $500 million share repurchase program, which was previously suspended during the first quarter of Fiscal 2021 in response to the impact of the COVID-19 pandemic and the provisions of the Second Amendment of the 2018 Credit Facility.
+Added: Subsequently, on November 3, 2021, we announced that our Board of Directors terminated the Company’s existing $500 million share repurchase program (the “Prior Plan”), which had $250 million of availability remaining at the time, and authorized a new share repurchase program (the “Fiscal 2022 Plan”) pursuant to which we may, from time to time, repurchase up to $1.0 billion of our outstanding ordinary shares within a period of two years from the effective date of the program.
We also have in place a “withhold to cover” repurchase program, which allows us to withhold ordinary shares from certain executive officers and directors to satisfy minimum tax withholding obligations relating to the vesting of their restricted share awards.
−Removed: The following table provides information regarding our ordinary share repurchases during the three months ended March 27, 2021:
+Added: On June 1, 2022, we announced that our Board of Directors has terminated our Fiscal 2022 Plan, with $500 million of availability remaining, and authorized a new share repurchase program pursuant to which we may, from time to time, repurchase up to $1.0 billion of our outstanding ordinary shares within period of two years from the effective date of the program.
+Added: Share repurchases may be made in open market or privately negotiated transactions, subject to market conditions,
+Added: applicable legal requirements, trading restrictions under our insider trading policy and other relevant factors.
+Added: The program may be suspended or discontinued at any time.
+Added: The following table provides information regarding our ordinary share repurchases during the three months ended April 2, 2022:
Total Number of Shares Average Price Paid per Share Total Number of Shares (or Units) Purchased as Part of Publicly Announced Plans or Programs Maximum Number (or Approximated Dollar Value) of Shares
2 unchanged sentences
January 23, 2022 – February 19, 2022 943,978 $ 66.40 943,978 $ 737
−Removed: February 21, 2021 – March 27, 2021 381 $ 48.26 — $ 400
+Added: February 20, 2022 – April 2, 2022 4,146,860 $ 57.36 4,136,319 $ 500
+Added: 5,090,838 5,080,297
Selected Financial Data
7 unchanged sentences
2020 March 30,
−Removed: 2018 April 1,
+Added: 2019 March 31,
(data presented in millions, except for shares and per share data)
10 unchanged sentences
Other income (2) (7) (6) (4) (2)
−Removed: Interest expense, net 43 18 38 22 4
−Removed: Foreign currency (gain) loss (20) 11 80 (13) 3
+Added: Interest (income) expense, net (18) 43 18 38 22
+Added: Foreign currency loss (gain) 8 (20) 11 80 (13)
Income (loss) before provision for income taxes 915 3 (215) 621 742
Provision for income taxes 92 66 10 79 150
−Removed: Net (loss) income
−Removed: (63) (225) 542 592 552
−Removed: Net loss attributable to noncontrolling interest and redeemable noncontrolling interest
−Removed: (1) (2) (1) — (1)
−Removed: Net (loss) income attributable to Capri
−Removed: $ (62) $ (223) $ 543 $ 592 $ 553
+Added: Net income (loss) 823 (63) (225) 542 592
+Added: Net income (loss) attributable to noncontrolling interest 1 (1) (2) (1) —
+Added: Net income (loss) attributable to Capri $ 822 $ (62) $ (223) $ 543 $ 592
Weighted average ordinary shares outstanding:
1 unchanged sentence
Diluted 152,497,907 150,453,568 150,714,598 151,614,350 155,102,885
−Removed: Net (loss) income per ordinary share (1) :
+Added: Net income (loss) per ordinary share attributable to Capri:
Basic $ 5.49 $ (0.41) $ (1.48) $ 3.62 $ 3.89
Diluted $ 5.39 $ (0.41) $ (1.48) $ 3.58 $ 3.82
−Removed: (1) Basic net (loss) income per ordinary share is computed by dividing net (loss) income available to ordinary shareholders of Capri by basic weighted average ordinary shares outstanding.
−Removed: Diluted net (loss) income per ordinary share is computed by dividing net (loss) income attributable to ordinary shareholders of Capri by diluted weighted average ordinary shares outstanding.
Fiscal Years Ended
2 unchanged sentences
2020 March 30,
−Removed: 2018 April 1,
+Added: 2019 March 31,
(data presented in millions, except for share and store data)
9 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.