Capri Holdings Limited (NYSE: CPRI) released its unaudited financial results for the second quarter of Fiscal 2027, which ended September 26, 2026. The company reported total revenue of $809 million for the quarter, a decrease of 5.5% on a reported basis and 4.9% in constant currency. Approximately $20 million of the reported revenue decrease was attributed to earlier than anticipated timing of wholesale shipments.
For the quarter, the company reported net income of $27 million, or $0.25 per diluted share, compared to a net loss of $34 million, or $(0.28) per diluted share, in the prior year. Adjusted earnings per share were $0.42. The company also reported a gross margin of 63.3% and an adjusted operating margin of 3.8%. Free cash flow for the quarter was $36 million.
The company’s performance varied by brand. Michael Kors revenue was $663 million, down 8.6% year-over-year, while Jimmy Choo revenue was $146 million, up 11.5%. Jimmy Choo’s operating margin improved significantly to 1.4% from a loss of 6.9% in the prior year.
Capri Holdings also announced an update to its Fiscal Year 2027 outlook. The company now expects total revenue of approximately $3.42 billion, operating income of approximately $175 million, and diluted earnings per share of approximately $2.20. The company also provided guidance for the third quarter of Fiscal 2027, expecting total revenue of approximately $1.005 billion and diluted earnings per share of approximately $0.95.
