Capri Holdings has raised its full-year revenue and earnings forecast after reporting second-quarter (Q2) fiscal 2027 (FY27) revenue of $809m, down 5.5% year-on-year.
The owner of Jimmy Choo and Michael Kors said that its results for the quarter ended 26 September 2026 exceeded its expectations for revenue, operating income, and earnings per share.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Capri is reporting results from continuing operations after concluding the sale of its Versace business to Prada on 2 December 2025.
The transaction followed a stock purchase agreement signed with Prada on 10 April 2025 covering the subsidiaries that operated the Versace business.
During Q2, gross profit decreased to $512m from $522m, while gross margin expanded to 63.3% from 61%.
Income from operations came in at $10m, compared with a $12m loss recorded in the prior-year quarter.
Net income from continuing operations reached $27m, reversing a $34m loss a year earlier.
Across its brands, Michael Kors posted an 8.6% drop in Q2 revenue to $663m.
Operating income for the brand was $68m, down from $73m, while operating margin rose to 10.3% from 10.1%.
Jimmy Choo generated an 11.5% increase in revenue to $146m. Its operating income stood at $2m, compared with an operating loss of $9m in the prior-year period, as operating margin improved to 1.4% from negative 6.9%.
First-half revenue from continuing operations fell to $1.58bn from $1.65bn, while operating income rose to $27m from $4m and net income from continuing operations increased to $97m from $22m.
For FY27, Capri anticipates revenue of about $3.42bn, operating income of $175m, and diluted earnings per share of $2.20.
Within this full-year outlook, Michael Kors revenue is projected to be $2.77bn, and Jimmy Choo revenue is expected to reach $650m.
For the third quarter, the company forecasts revenue of $1bn, which incorporates a $20m impact from wholesale shipments shifted into the second quarter.
Third-quarter operating income is expected to be about $90m, with diluted earnings per share projected at about $0.95.
Capri Holdings chairman and CEO John D Idol said: “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.”
