Capri Holdings reports decline in fourth quarter revenue
Capri Holdings, the owner of Versace, Jimmy Choo and Michael Kors, has reported a 15.4% decline in total revenue to $1 billion in its fourth quarter.
While revenue at Versace dropped 21.2% there were respective falls of 15.6% and 2.9% at Michael Kors and Jimmy Choo.
Gross profit was $631 million and gross margin was 61%, compared to $767 million and 62.7% in the prior year.
Meanwhile, the company posted a net loss of $645 million, or $(5.44) per diluted share, compared to a net loss of $472 million, or $(4.03) per diluted share, a year earlier.
Never Miss a Retail Update!John Idol, Capri Holdings chairman and chief executive officer said, “Fiscal 2025 was a challenging year for Capri Holdings, but we are optimistic about our path forward as we enter fiscal 2026.
“While there is uncertainty around the impact of tariffs on the global economic environment, we remain focused on executing against our new strategic initiatives that are designed to return Capri Holdings to future growth.
“The company is still in the early stages of its turnaround and we are seeing positive indicators that our strategies are beginning to work.”
As previously announced, Capri Holdings has agreed to sell Versace to Prada for $1.375 billion. The sale is expected to complete in the second half of this year.
Idol added: “Looking ahead, we continue to expect trends to improve throughout fiscal year 2026 positioning us to return to growth in fiscal 2027 and beyond. We are confident in our ability to grow Michael Kors to $4 billion in revenue and Jimmy Choo to $800 million over time, while restoring operating margin to the double-digit range.”
