Capri Holdings beats first quarter estimates with adjusted EPS of $0.67 but cuts fiscal 2027 revenue guidance.

Capri Holdings reported first quarter revenue of $769 million, a decrease of 3.5% year-over-year, as strong growth at Jimmy Choo was offset by a decline at Michael Kors. The company posted GAAP earnings per share of $0.60, up from $0.47 in the prior year, while adjusted EPS of $0.67 significantly exceeded expectations. Despite the quarterly beat, Capri lowered its full-year fiscal 2027 revenue guidance, citing inventory delays, softness in EMEA, and currency headwinds.

Key Highlights

• Jimmy Choo revenue increased 10.5% to $179 million, while Michael Kors revenue declined 7.1% to $590 million.
• The company cut its fiscal 2027 revenue outlook to approximately $3.4 billion, citing inventory delays at Michael Kors and softer trends in EMEA.
• Gross margin expanded by 200 basis points year-over-year to 65.0%, driven by higher full-price sell-throughs.
• Capri repurchased approximately 2.6 million shares for $50 million during the quarter.