| Metric | Value ($ M) | Q1 FY26 |
|---|---|---|
| Revenue | 769.00 | 3.5% |
| Total Income | 769.00 | 3.5% |
| Expenditure | 752.00 | 3.7% |
| PBT | 52.00 | 30.0% |
| Net Profit | 69.00 | 30.2% |
| OPM | 2.21% | 0.20pp |
| NPM | 8.97% | 2.32pp |
| EPS | 0.60 | 36.4% |
Capri Holdings Announces Q1 FY27 Results, Revenue Down 3.5%
05 Aug 2026 · 5 Aug, 4:22 pm
Summary
Capri Holdings Limited reported first quarter Fiscal 2027 revenue of $769 million, down 3.5% year-over-year, with a reported operating margin of 2.2%. Despite a revenue decline, earnings per share improved to $0.60 ($0.67 adjusted) from $0.47 ($0.50 adjusted) in the prior year, driven by a 200 basis point increase in gross margin. While Michael Kors saw a revenue decrease, Jimmy Choo experienced a 10.5% increase. Management anticipates fiscal 2027 revenue of approximately $3.4 billion, maintaining the earnings per share outlook of $2.15.
Key Highlights
- 1
Total revenue for the first quarter of Fiscal 2027 was $769 million, a decrease of 3.5% on a reported basis and 4.1% in constant currency compared to the prior year.
- 2
Operating margin was 2.2%, an improvement from 2.0% in the prior year, with adjusted operating margin at 3.6%.
- 3
Earnings per share were $0.60, and adjusted earnings per share were $0.67, compared to $0.47 and $0.50 respectively in the prior year.
- 4
Michael Kors revenue decreased 7.1% to $590 million, while Jimmy Choo revenue increased 10.5% to $179 million.
- 5
Gross margin improved to 65.0% from 63.0% in the prior year, driven by higher full-price sell-throughs and lower tariff rates.
- 6
The company now expects fiscal 2027 total revenue of approximately $3.4 billion, with diluted earnings per share outlook maintained at approximately $2.15.
- 7
Net inventory decreased by 20% to $624 million compared to the prior year.
Management Comments
John D. Idol
We are encouraged by our first quarter results, which exceeded our expectations and demonstrated the progress we are making to build a stronger and more profitable business. Our strategic initiatives across both Michael Kors and Jimmy Choo are driving deeper consumer engagement through enhanced brand storytelling and compelling product innovation. As we look at the balance of fiscal 2027 we expect Jimmy Choo to continue to grow and return to profitability. At Michael Kors certain headwinds including lower than anticipated inventory levels in the second quarter, softer trends in EMEA and updated foreign currency exchange rate assumptions are impacting our revenue outlook. As a result we now expect fiscal 2027 revenue of approximately $3.4 billion. Based on our revised revenue expectations we are taking actions to reduce operating expenses which are enabling us to maintain our fiscal 2027 earnings per share outlook of approximately $2.15, representing 40% growth over the prior year. Looking beyond fiscal 2027 the opportunity for Michael Kors and Jimmy Choo remains significant. As our strategic initiatives continue to gain momentum, Capri Holdings is well positioned to drive sustainable growth, enhance profitability and create meaningful long-term value for our shareholders.
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