Overview

* Capri Holdings ( CPRI ) Q2 FY2026 revenue beats analyst expectations despite a 2.5% decrease

* Adjusted EPS for Q2 misses analyst expectations

* Company announces $1 bln share repurchase program, to begin in fiscal 2027

Outlook

* Capri Holdings ( CPRI ) expects fiscal 2026 revenue of $3.375 bln to $3.45 bln

* Company anticipates Q3 fiscal 2026 revenue of $975 mln to $1 bln

* Michael Kors fiscal 2026 revenue expected at $2.8 bln to $2.875 bln

Result Drivers

* STRATEGIC INITIATIVES - Co attributes exceeding expectations in revenue, gross margin, and operating income to strategic initiatives aimed at energizing fashion luxury houses

* VERSACE SALE - Co expects Versace sale to close in fiscal Q3, using proceeds to repay debt and strengthen financial flexibility

* TARIFF IMPACT - Tariffs negatively impacted gross margin by approximately 130 basis points

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $856 mln $825.65

Revenue mln (11

Analysts

)

Q2 Miss -$0.03 $0.13

Adjusted (11

EPS Analysts

)

Q2 EPS -$0.28

Q2 Miss -$4 mln $15.63

Adjusted mln (10

Net Analysts

Income )

Q2 Net -$28 mln

Income

Q2 Beat $20 mln $10.41

Adjusted mln (10

Operatin Analysts

g Income )

Q2 2.30%

Adjusted

Operatin

g Margin

Q2 -$12 mln

Operatin

g Income

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 8 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the apparel & accessories retailers peer group is "buy."

* Wall Street's median 12-month price target for Capri Holdings Ltd ( CPRI ) is $23.00, about 9.9% above its November 3 closing price of $20.72

* The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 13 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)