Shareholders' Equity

3 Months Ended

Jun. 28, 2025

Shareholders’ Equity

Share Repurchase Program

On November 9, 2022, the Company announced its Board of Directors approved a two-year share repurchase program to purchase up to $1.0 billion of its outstanding ordinary shares. Share repurchases may be made in open market or privately negotiated transactions and/or pursuant to Rule 10b5-1 trading plans, subject to market conditions, applicable legal requirements, trading restrictions under the Company’s insider trading policy and other relevant factors. However, pursuant to the terms of the Merger Agreement, and subject to certain limited exceptions, the Company was prohibited from repurchasing its ordinary shares other than the acceptance of Company ordinary shares as payment of the exercise price of Company options

or for withholding taxes with respect of Company equity awards. Accordingly, the Company did not repurchase any of its ordinary shares during the pendency of the Merger Agreement pursuant to the share repurchase program. The share repurchase program expired on November 9, 2024.

During the three months ended June 28, 2025 and June 29, 2024, the Company did not purchase any of its’ ordinary shares through open market transactions.

The Company also has in place a “withhold to cover” repurchase program, which allows the Company to withhold ordinary shares from certain employees and directors to satisfy minimum tax withholding obligations relating to the vesting of their restricted share awards. During the three months ended June 28, 2025 and June 29, 2024, the Company withheld 86,365 shares and 93,738 shares, respectively, with a fair value of $1 million and $3 million, respectively, in satisfaction of minimum tax withholding obligations relating to the vesting of restricted share awards.

Accumulated Other Comprehensive (Loss) Income

The following table details changes in the components of accumulated other comprehensive (loss) income (“AOCI”), net of taxes, for the three months ended June 28, 2025 and June 29, 2024, respectively (in millions):


	Foreign Currency Translation Adjustments (1)		Net Loss on Derivatives (2)		Other Comprehensive (Loss) Income Attributable to Capri
Balance at March 29, 2025	$	67	$	(10)	$	57

Other comprehensive loss before reclassifications	(451)		(4)		(455)
Loss reclassified from AOCI to earnings	—		2		2
Other comprehensive loss, net of tax	(451)		(2)		(453)
Balance at June 28, 2025	$	(384)	$	(12)	$	(396)

Balance at March 30, 2024	$	161	$	—	$	161
Other comprehensive loss before reclassifications	(29)		—		(29)


Balance at June 29, 2024	$	132	$	—	$	132

(1)Foreign currency translation adjustments for the three months ended June 28, 2025 primarily include a $437 million loss, net of taxes of $148 million, relating to the Company’s net investment hedges, as well as a net $14 million translation loss. Foreign currency translation adjustments for the three months ended June 29, 2024 primarily include a $19 million loss, net of taxes of $7 million, relating to the Company’s net investment hedges, and a net $10 million translation loss.

(2)Other comprehensive loss before reclassifications for the three months ended June 28, 2025 primarily relate to the Company’s foreign currency exchange contracts for inventory purchases. Reclassifications from AOCI into earnings for three months ended June 28, 2025 relate to the Company’s interest rate swaps of $2 million, net of taxes and are recorded within interest income, net, in the Company’s consolidated statements of operations and comprehensive income (loss).