The Q1 beat and maintained FY EPS guidance are positive, but the lowered revenue outlook signals ongoing operational headwinds at Michael Kors. Monitor Q2 results for inventory normalization and EMEA trends; the cost-cutting ability to protect EPS is a key variable. The $871M buyback authorization provides downside support.
Price Chart
Executive Summary
Capri Holdings reported Q1 FY2027 results that exceeded expectations, with GAAP EPS of $0.60 (vs. consensus $0.40) and revenue of $769M (vs. consensus $752.6M). However, total revenue declined 3.5% YoY, and management lowered its full-year FY2027 revenue guidance to ~$3.4B (from ~$3.525B) due to inventory delays at Michael Kors, softer EMEA trends, and FX headwinds. The company maintained its FY2027 EPS outlook of ~$2.15, representing 40% growth, by cutting operating expenses. The stock is likely to react positively to the beat and maintained EPS guidance, but the lowered revenue outlook tempers the bullish case.
Key Financial Metrics
Key Facts
- Q1 FY2027 revenue of $769M decreased 3.5% YoY (4.1% in constant currency), but exceeded the company's own guidance of ~$750M.
- GAAP diluted EPS of $0.60 beat consensus of $0.40 by 50%. Adjusted diluted EPS was $0.67.
- Full-year FY2027 revenue guidance lowered to ~$3.4B from ~$3.525B, citing ~$50M from Michael Kors inventory delays, ~$50M from softer EMEA trends, and ~$35M from FX headwinds.
- Full-year FY2027 EPS guidance maintained at ~$2.15, representing ~40% growth over FY2026 adjusted EPS of $1.50, supported by cost-cutting actions.
- Michael Kors revenue declined 7.1% YoY to $590M, while Jimmy Choo revenue grew 10.5% YoY to $179M.
- The company repurchased ~2.6M shares for $50M in Q1, with $871M remaining under the buyback program.
Financial Impact
Q1 revenue beat consensus by ~$16.4M (2.2%), but full-year revenue guidance was cut by ~$125M (3.5%). EPS beat consensus by $0.20 (50%).
Risk Factors
- Lowered FY revenue guidance signals persistent headwinds at Michael Kors (inventory, EMEA, FX).
- Q2 FY2027 guidance implies a sharp sequential drop in EPS to ~$0.20, indicating significant near-term pressure.
- Macroeconomic uncertainty and tariff volatility remain overhangs on the luxury consumer.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001530721-26-000078 |
| Document: cpri-20260805.htm | 0001530721-26-000078 |
| Document: 0001530721-26-000078-index-headers.html | 0001530721-26-000078 |
| Document: 0001530721-26-000078-index.html | 0001530721-26-000078 |
| Document: 0001530721-26-000078.txt | 0001530721-26-000078 |
| 8-K Data (Synthetic) | 0001530721-26-000078 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 5, 2026 11w ago | 8-K | $16.02 | awaiting T+60 | — | $15.57 (−2.81%) |
Jun 16, 2026 18w ago | DEFA14A | $20.76 $12.88 | ▼ −37.96% | ▼ −38.96% | $15.57 (−25.00%) |
Jun 16, 2026 18w ago | 8-K | $20.76 $12.88 | ▼ −37.96% | ▼ −38.96% | $15.57 (−25.00%) |
Jun 8, 2026 20w ago | 144 | $19.94 $12.71 | ▼ −36.28% | ▼ −40.10% | $15.57 (−21.92%) |
May 27, 2026 21w ago | 8-K | $18.26 $13.76 | ▼ −24.65% | ▼ −26.27% | $15.57 (−14.71%) |
Apr 9, 2026 28w ago | 8-K | $19.82 $18.84 | ▼ −4.92% | ▼ −15.42% | $15.57 (−21.42%) |
Feb 25, 2026 34w ago | 8-K | $20.16 $17.84 | ▼ −11.49% | ▼ −18.44% | $15.57 (−22.75%) |
US Market Status
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