Capri Holdings LtdCPRI
▼ NegativeDemandrelevance
Company cuts fiscal 2027 revenue outlook due to lower inventory levels, softer EMEA trends, and currency headwinds.
Impact on stocks 1
Consumer Discretionary
Capri Holdings LtdCapri Holdings lowered its fiscal 2027 revenue outlook to approximately $3.4 billion, a reduction of about $125 million from prior guidance, citing lower inventory levels, softer trends in EMEA, and currency headwinds. Chairman and CEO John D. Idol said the company now expects roughly $50 million in reduced sales from inventory delays, $50 million from weaker EMEA performance, and $35 million from foreign exchange impacts. Despite the revenue cut, Capri maintained its earnings per share outlook of approximately $2.15, representing 40 percent growth over the prior year, as it plans to reduce operating expenses. The revised outlook follows a stronger-than-expected first quarter, where adjusted earnings per share reached 67 cents, well above analyst forecasts of 40 cents, and revenues came in at $769 million. Shares of Capri, which owns Michael Kors and Jimmy Choo, fell 2 percent to $16.18 in premarket trading.
Capri Holdings LtdCompany cuts fiscal 2027 revenue outlook due to lower inventory levels, softer EMEA trends, and currency headwinds.