Capri Holdings reported revenue of $809 million for Q2 2027 that is a 5.5% decline compared with the same period last year. The luxury fashion group said revenue fell 4.9% on a constant currency basis while growth at Jimmy Choo helped offset the decline at Michael Kors.
The results cover the 3 months ended September 26, 2026 and were announced on October 30. Capri Holdings currently operates Michael Kors and Jimmy Choo following the sale of its Versace business in December 2025.
Despite lower revenue the company returned to profitability during the quarter. Net income reached $27 million compared with a net loss of $34 million in the same period last year. Adjusted net income was $45 million compared with an adjusted net loss of $4 million in the prior year quarter.
Gross profit stood at $512 million while gross margin increased to 63.3% from 61.0%. Capri attributed the improvement mainly to higher full-price sales, brand mix and lower tariff rates compared with the same quarter last year.
Michael Kors generated revenue of $663 million a decline of 8.6% YoY. On a constant currency basis, revenue fell 8.0%. The brand’s gross margin increased to 61.5% from 59.3% supported by higher full-price sales and lower tariff rates. Operating income was $68 million, compared with $73 million in the previous year’s quarter.
Jimmy Choo recorded revenue of $146 million, an increase of 11.5% compared with the same period last year. On a constant currency basis, revenue grew 12.2%.
Gross margin improved to 71.2% from 70.2%, while operating income reached $2 million compared with an operating loss of $9 million a year earlier. Capri attributed the improvement in operating margin mainly to higher revenue and better expense leverage.
Following the results Capri Holdings increased its full-year fiscal 2027 outlook. The company now expects total revenue of approximately $3.42 billion and operating income of around $175 million.
For Q3 2027, Capri expects revenue of approximately $1.005 billion and operating income of around $90 million.
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