Capri Holdings reported a 5.5% decrease in revenue for the second quarter of fiscal 2027, despite an improvement in adjusted earnings per share to $0.42. While Michael Kors faced continued pressure, Jimmy Choo saw a robust revenue growth of 11.5%, contributing to an overall adjusted operating margin of 3.8%. The company raised its full-year 2027 guidance, supported by a significant 230 basis point expansion in gross margin.
Second-quarter revenue topped analyst estimates despite declining year over year, while gross margin widened as operating profitability improved and Jimmy Choo sales rose.
Read the full storyThe company set expected operating income at $10 million and diluted earnings per share at $0.20 after cutting its full-year outlook in August.