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MarketScreener Homepage  >  Equities  >  Nyse  >  Capri Holdings Limited    CPRI   VGG1890L1076

CAPRI HOLDINGS LIMITED

(CPRI)
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Michael Kors : Announces $35 Million Product Donation to Delivering Good

06/29/2020 | 03:00pm EST

Michael Kors announced today that it has made a $35 million product donation to the New York-based non-profit organization Delivering Good. The donation benefits individuals impacted by poverty and disasters through the organization’s network of more than 700 community partners across the country.

“I’ve always believed that long-lasting change needs to happen at both the local and national level,” said Michael Kors, Chief Creative Officer. “With Delivering Good, we’re able to donate our product and know that it will be provided to the local communities and organizations throughout the country that need it most. If we have learned anything during these trying times, it’s that when you are able to help, you should.”

John D. Idol, Chairman and Chief Executive Officer of Capri Holdings, said, “Philanthropy has long been a core value of the Michael Kors brand, with ongoing support of various organizations that provide relief to communities in need, both globally and locally. Our significant product donation to Delivering Good follows other donations made by our company to support a range of relief efforts, and continues our commitment to offer support to those who need it most.”

“The donation of Michael Kors product will provide hope, dignity and self-esteem to families and individuals facing the financial challenges that come in a crisis,” said Lisa Gurwitch, President and Chief Executive Officer of Delivering Good. “Our community partners will be distributing the merchandise to people in need as they also provide services for more stable living environments.”

Michael Kors product will be donated and distributed to non-profits within Delivering Good’s network of local agencies serving hard-hit markets throughout the U.S. including New York City, Pennsylvania, Nevada, Los Angeles, Texas and Orlando.

About Michael Kors

Michael Kors is a world-renowned, award-winning designer of luxury accessories and ready-to-wear. His namesake company, established in 1981, currently produces a range of products under Michael Kors Collection, MICHAEL Michael Kors and Michael Kors Mens, including accessories, ready-to-wear, footwear, wearable technology, watches, and a full line of fragrance products. Michael Kors stores are operated in the most prestigious cities in the world. In addition, Michael Kors operates digital flagships across North America, Europe and Asia, offering customers a seamless omni-channel experience.

About Delivering Good

This year marks the 35th anniversary of Delivering Good, a 501(c)(3) nonprofit supported by new product donations from hundreds of companies in the fashion, home and children’s industries. Donating new merchandise provides these companies with a simple and effective way to help millions of kids, adults and families in need. The organization started as Kids In Distressed Situations (K.I.D.S.), providing disaster and poverty relief with new products and apparel for children. Separately, Fashion Delivers provided donations of adult apparel and home items for disaster and poverty relief, and in 2014 the two nonprofits merged; the name Delivering Good was adopted in 2017. Since the founding in 1985, over $2 billion of donated product has been distributed through a network of community partners across the country. More information about Delivering Good is found on social media -- @DeliveringGood on Facebook, Twitter and Instagram -- and online at www.delivering-good.org. For more information about the charity, visit www.delivering-good.org.


© Business Wire 2020
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Financials (USD)
Sales 2021 4 015 M - -
Net income 2021 165 M - -
Net Debt 2021 1 264 M - -
P/E ratio 2021 39,8x
Yield 2021 -
Capitalization 6 395 M 6 395 M -
EV / Sales 2021 1,91x
EV / Sales 2022 1,44x
Nbr of Employees 13 920
Free-Float 66,9%
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 42,83 $
Last Close Price 42,45 $
Spread / Highest target 69,6%
Spread / Average Target 0,89%
Spread / Lowest Target -41,1%
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Managers and Directors
NameTitle
John D. Idol Chairman & Chief Executive Officer
Thomas J. Edwards EVP, Chief Operating & Financial Officer
M. William Benedetto Lead Independent Director
Stephen F. Reitman Independent Director
Judy Mary Gibbons Independent Director
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