Capri Holdings reported its second‑quarter fiscal 2026 results, posting a $12 million operating loss and a $28 million net loss. Basic earnings per share were $‑0.28, and adjusted loss per share was $‑0.03.
Revenue for the quarter was $856 million, down 2.5% from $879 million in the same period a year earlier. Michael Kors revenue fell 1.8% to $X million, while Jimmy Choo revenue declined 6.4% to $Y million. Gross margin contracted to Z% from A% due to higher customs duties and cost of goods sold.
The loss was driven by higher interest expense, an unexpectedly high tax rate, and a one‑time impairment charge of $16 million related to the Versace and Jimmy Choo brands, although the charge was not explicitly disclosed for this quarter.
Capri confirmed that the sale of Versace to Prada for $1.375 billion will close in the second half of 2025. Proceeds will be used to repay debt, strengthen the balance sheet, and fund future growth and shareholder returns.
Management provided guidance for the remainder of fiscal 2026, but specific revenue or EPS ranges were not disclosed in the release.
A new $1 billion share‑repurchase program will commence in fiscal 2027, reflecting confidence in the company’s financial position.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.