Capri Holdings Reports Q2 Fiscal 2027 Results with Improved Margins and Debt Reduction
Capri Holdings (CPRI) reported second-quarter fiscal 2027 results characterized by a 5.5% year-over-year decline in total revenue to $809 million, offset by a significant 55% surge in operating income to $31 million. The company's strategy focused on pricing discipline, particularly within the Michael Kors brand, where reduced promotional activity and lower inventory markdowns led to higher average unit retail prices despite short-term sales headwinds. Jimmy Choo showed strong performance with an 11.5% revenue increase driven by casual designs attracting younger consumers. Simultaneously, Capri significantly strengthened its balance sheet, reducing net debt from $1.6 billion to $336 million. This improved liquidity allowed the company to repurchase 10.3 million shares and raise its full-year share repurchase goal to $300 million.
Tickers: $CPRI
Topics: Debt reduction Gross margin expansion Inventory management Operating income growth Revenue decline Share buybacks
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Part of the story Unifi Reports Q1 Fiscal 2027 Results with Debt Elimination and Improved Margins (4 articles)