Overview
- Revenue fell 4% to $1.025 billion (down 5.9% in constant currency), while adjusted profit rose 32% to $79 million, or $0.81 a share, topping estimates.
- Using roughly $1.4–$1.5 billion from the Versace sale, Capri ended the quarter with $154 million in cash, $234 million in borrowings and about $80 million in net debt.
- Michael Kors revenue declined 7.3% in constant currency to $858 million as Jimmy Choo grew 1.9% to $167 million and returned to operating profit.
- The Americas fell to $646 million as EMEA rose to $268 million and Asia slipped to $111 million, with management noting sequential improvement in North American retail trends.
- Capri guided fiscal 2026 revenue to $3.45–$3.475 billion and expects growth to resume in fiscal 2027, while reserving against a $33 million receivable tied to the Saks Global bankruptcy and continuing tariff mitigation efforts.