Capri Holdings reported first quarter fiscal 2027 results that exceeded expectations, with revenue of $769 million, down 3.5% year-over-year, while operating income increased approximately 40% and earnings per share rose about 30% to $0.67. The company now anticipates full-year revenue of approximately $3.4 billion, down from prior expectations, citing lower-than-anticipated inventory levels at Michael Kors, softer trends in EMEA, and updated foreign currency exchange rate assumptions. Despite the revenue revision, Capri maintained its fiscal 2027 earnings per share outlook of approximately $2.15, representing 40% growth over the prior year, supported by a $70 million reduction in planned operating expenses. Michael Kors revenue decreased 7.1% to $590 million, while Jimmy Choo revenue increased 10.5% to $179 million, with Jimmy Choo expected to return to profitability in fiscal 2027. The company repurchased approximately $50 million of shares during the quarter and has $871 million remaining under its authorization.
Capri Holdings LtdQ1 results beat expectations, EPS up 30%, and full-year EPS outlook maintained despite revenue cut.
