Capri Holdings Limited Reports Second Quarter Fiscal 2027 Results
Revenue, Operating Income and Earnings Per Share Exceed Expectations
Company Increases Full Year Outlook
LONDON, October 30, 2026--Capri Holdings Limited (NYSE:CPRI), a global fashion luxury group, today announced its financial results for the second quarter of Fiscal 2027 ended September 26, 2026.
Second Quarter Fiscal 2027 Highlights from Continuing Operations
Revenue decreased 5.5% on a reported basis and 4.9% in constant currency
Operating margin was 1.2%; adjusted operating margin was 3.8%
Earnings per share were $0.25; adjusted earnings per share were $0.42
John D. Idol, the Company's Chairman and Chief Executive Officer, said, "We are encouraged by the momentum building at both Michael Kors and Jimmy Choo. Throughout the second quarter, trends improved sequentially each month across both of our luxury houses, reflecting the actions we have taken to sharpen our product assortments, elevate brand desirability and strengthen consumer engagement. We are pleased with the progress we are seeing and believe these initiatives are beginning to position our brands for sustainable growth."
Mr. Idol continued, "Looking ahead, we continue to expect total company revenue to return to growth in the second half of fiscal 2027, supported by exciting new collections, increased marketing investments and our focus on elevating the consumer experience. As these efforts continue to gain traction, we remain confident in our ability to deliver sustainable growth and create meaningful value for shareholders over time."
Second Quarter Fiscal 2027 Results
Financial Results and Non-GAAP Reconciliation
The Company's results are reported in this press release in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") and on an adjusted, non-GAAP basis. A reconciliation of GAAP to non-GAAP financial information is provided at the end of this press release.
As previously disclosed, on April 10, 2025, the Company and Prada S.p.A. ("Prada") entered into a Stock Purchase Agreement (the "Purchase Agreement") whereby Prada agreed to acquire certain subsidiaries of the Company which operate the Company's Versace business. As a result, the Company classified the results of operations and cash flows of its Versace business as discontinued operations in its consolidated financial statements for all periods presented. The related assets and liabilities associated with the discontinued operations were classified as held for sale in the consolidated balance sheets as of September 27, 2025. On December 2, 2025, the Company completed the sale of its Versace business. Unless otherwise noted, the discussion below, including analysis of financial condition and results of operations, relates only to continuing operations.