Shareholders' Equity

6 Months Ended

Sep. 27, 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 which expired on November 9, 2024. Share repurchases were permitted to 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 through the expiration date of the share repurchase program.

During the six months ended September 27, 2025 and September 28, 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 six months ended September 27, 2025 and September 28, 2024, the Company withheld 98,081 shares and 105,470 shares, respectively, with a fair value of $2 million and $4 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, net of taxes, for the six months ended September 27, 2025 and September 28, 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	(491)		(3)		(494)
Loss reclassified from AOCI to earnings	—		4		4
Other comprehensive loss, net of tax	(491)		1		(490)
Balance at September 27, 2025	$	(424)	$	(9)	$	(433)

Balance at March 30, 2024	$	161	$	—	$	161
Other comprehensive loss before reclassifications	(147)		(11)		(158)


Balance at September 28, 2024	$	14	$	(11)	$	3

(1)Foreign currency translation adjustments for the six months ended September 27, 2025 primarily include a $464 million loss, net of taxes of $156 million, relating to the Company’s net investment hedges, as well as a net $27 million translation loss. Foreign currency translation adjustments for the six months ended September 28, 2024 primarily include a $199 million loss, net of taxes of $67 million, relating to the Company’s net investment hedges partially offset by a net $52 million translation gain.

(2)Other comprehensive loss before reclassifications for both the six months ended September 27, 2025 and September 28, 2024 were primarily related to the Company’s forward foreign currency exchange contracts, net of taxes. Reclassifications from AOCI into earnings for six months ended September 27, 2025 were $3 million, net of taxes of $1 million related to the Company’s previously terminated interest rate swaps and $1 million, net of immaterial taxes, related to the Company’s forward foreign currency exchange contracts for inventory purchases.