The FY2027 guidance of ~40% adjusted EPS growth (~$2.15 vs ~$1.50) provides a strong narrative for a fundamental turnaround, especially following the Versace sale deleveraging. The renewed buyback program ($921M remaining vs $2.2B market cap) is very aggressive — ~42% of current market cap authorized. However, Q4 revenue still declined and Michael Kors remains in contraction (-5.5%). Monitor first quarter FY2027 same-store sales and Michael Kors Americas trends for confirmation.
Price Chart
Executive Summary
Capri Holdings Q4 FY2026 revenue declined 3.7% YoY to $796M, while GAAP EPS was -$0.01 (immaterial net loss) vs consensus estimate of $0.12. The company issued FY2027 guidance of ~$3.525B revenue (low-single-digit growth) and ~$2.15 adjusted EPS (~40% growth), along with active share repurchases (4.0M shares for $79M in Q4, $921M remaining). The strong forward guidance and return to profitability signal inflection, but Q4 revenue miss and ongoing revenue declines temper enthusiasm.
Key Financial Metrics
Key Facts
- Q4 FY2026 revenue $796M, down 3.7% YoY vs $827M; GAAP EPS -$0.01 vs consensus $0.12
- FY2027 guidance: revenue ~$3.525B (low-single-digit growth), adjusted EPS ~$2.15 (~40% growth)
- Active buyback: repurchased 4.0M shares for $79M in Q4; $921M remaining authorization
- Net debt reduced to $222M from $1.4B YoY; free cash flow $134M for FY2026
- IEEPA tariff refund receivable of $65M recorded; $40M benefit to Q4 cost of goods sold
- Michael Kors Q4 revenue -5.5% to $656M; Jimmy Choo +5.3% to $140M
- Fiscal 2026 full-year revenue $3.474B vs $3.621B prior year, -4.1%
Financial Impact
Guidance implies ~$2.15 adjusted EPS in FY2027 vs ~$1.50 adjusted EPS in FY2026, representing ~43% YoY growth. Current market cap ~$2.2B.
Risk Factors
- Tariff uncertainty: guidance assumes incremental 10% tariff rate; actual rates could exceed assumptions
- Michael Kors brand remains in revenue decline (-5.5% in Q4, -4.7% for full year)
- IEEPA tariff refund of $65M is an estimate subject to CBP processing delays or appeals
- Jimmy Choo operating loss expanded to -14.3% margin in Q4 from -7.5% prior year
- Pending federal securities law class action noted as risk factor
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001530721-26-000044 |
| Document: cpri-20260527.htm | 0001530721-26-000044 |
| Document: 0001530721-26-000044-index-headers.html | 0001530721-26-000044 |
| Document: 0001530721-26-000044-index.html | 0001530721-26-000044 |
| Document: 0001530721-26-000044.txt | 0001530721-26-000044 |
| 8-K Data (Synthetic) | 0001530721-26-000044 |
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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