Capri Holdings Ltd (CPRI) News & EventsCPRINews & EventsCapri Holdings Ltd

Company Reports Q1 Revenue of $769M

Reports Q1 revenue $769M, consensus $752.57M. John Idol, the company's Chairman and Chief Executive Officer, said, "We are encouraged by our first quarter results, which exceeded our expectations and demonstrated the progress we are making to build a stronger and more profitable business. Our strategic initiatives across both Michael Kors and Jimmy Choo are driving deeper consumer engagement through enhanced brand storytelling and compelling product innovation."

FY27 Revenue Expected at $3.4B, Below Consensus

Sees FY27 revenue $3.4B, consensus $3.51B. Revenue impacted by approximately $50 million from lower than anticipated second quarter revenue at Michael Kors due to inventory delays, $50 million from softer trends in EMEA due to the ongoing conflict in the Middle East and $35 million from foreign currency headwinds relative to our prior expectation.

Sees Q2 Revenue of $780M, Below Consensus

Sees Q2 revenue $780M, consensus $850.96M. Revenue impacted by approximately $50 million associated with inventory delays at Michael Kors, $15 million from softer than previously anticipated trends in EMEA, $10 million from foreign currency headwinds and $10 million related to the timing shift of wholesale shipments that benefited the first quarter.