Michael Kors’ disappointing performance weighs on Capri Holdings’ results

Capri Holdings saw a decline in revenue in the first quarter of its fiscal year, primarily due to Michael Kors’s underperformance, despite strong results from Jimmy Choo.

Lowered outlook

Capri Holdings reported a 3.5% decline in revenue to $769 million (€667 million) for the period ending June 27, 2026. Michael Kors’ revenue fell 7.1% from a year ago to $590 million (€512 million). Jimmy Choo performed better, with revenue rising 10.5% to $179 million (€155 million). Capri Holdings’ gross profit totaled $500 million (€434 million), with a gross margin of 65.0%.