Capri Holdings (CPRI) announced the mutual termination of its definitive merger agreement with Tapestry, Inc. The required closing condition of receiving necessary U.S. regulatory approvals was unlikely to be met by the merger agreement's outside date of February 10, 2025. Capri Holdings also announced its strategies to return to growth.
John Idol, Chairman and CEO, said, "With the termination of the merger agreement, we are now focusing on the future of Capri and our three iconic luxury houses. Looking ahead, I remain confident in Capri's long-term growth potential."
Shares of Capri Holdings are down 6% in pre-market trade on Thursday.
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Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.