Capri Holdings: Jimmy Choo grows as group raises full-year forecast

Capri Holdings generated revenue of 809 million dollars in the second quarter of the 2027 financial year, which ended on September 26. This represents a year-over-year (YoY) decline of 5.5 percent, while revenue fell by 4.9 percent on a constant currency basis. According to the company, around 20 million dollars is attributable to wholesale shipments that were delivered earlier than planned and were originally scheduled for the third quarter.

The performance of the two brands moved in opposite directions. At Michael Kors, revenue decreased by 8.6 percent to 663 million dollars. Conversely, Jimmy Choo grew by 11.5 percent to 146 million dollars and returned to operating profitability with a profit of two million dollars.

Overall, the group benefited from a gross margin that rose by 230 basis points to 63.3 percent, which Capri attributes to higher full-price sales, the brand mix and lower tariff rates. From continuing operations, Capri achieved a net profit of 27 million dollars, following a loss of 34 million dollars in the prior year. The figures no longer include Versace, which Capri sold to Prada in December 2025.

“We are encouraged by the momentum building across both Michael Kors and Jimmy Choo,” said John D. Idol, chairman and chief executive officer (CEO). He noted that trends improved month by month throughout the quarter at both brands. For the second half of the financial year, he expects a return to revenue growth.

Accordingly, Capri is raising its full-year forecast. The company now expects revenue of around 3.42 billion dollars and adjusted diluted earnings per share of approximately 2.20 dollars.

This article was created with the assistance of AI.