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Capri Holdings Posts Q1 Beat; Maintains FY27 Target Despite Tariff Risks

Aug 5, 2026, 6:49 AM EDT2 sourcesAI-analyzed

Why it may matterVerify against the original reporting

Strong margin improvement, disciplined cost cuts, meaningful buyback and debt reduction suggest potential multiple expansion; durable earnings from Jimmy Choo and improved Michael Kors margins could sustain upside, barring tariff/FX shocks observed in guidance.

AI summary

What happened, with direct paths to the underlying reporting

Capri Holdings delivered a Q1 FY2027 beat with revenue of $769M and a gross margin of 65%. Margins expanded and Jimmy Choo showed momentum while Michael Kors faced headwinds, guiding FY27 to about $3.4B in revenue and $2.15 in EPS, supported by cost-reduction actions. Tariffs, FX, and EMEA softness remain key near-term risks to the outlook.

Capri Q1 FY2027 revenue $769M; down 3.5% (4.1% CC).
Gross margin 65.0%; operating margin 2.2%; adjusted 3.6%.
GAAP EPS $0.60; adjusted $0.67; Versace discontinued operations.
Jimmy Choo up 10.5%; Michael Kors down 7.1% in Q1.
FY27 guidance: revenue about $3.4B; EPS around $2.15; tariff FX risks.

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