Q2 2026 Capri Holdings Ltd Earnings Call Transcript
Key Points
- Capri Holdings Ltd (CPRI) exceeded expectations in revenue, gross margin, and operating income for the second quarter.
- The company announced a new $1 billion share repurchase program, expected to begin in fiscal '27.
- Michael Kors full price channel comps turned positive, indicating consumer response to strategic initiatives.
- Jimmy Choo's retail sales improved sequentially, with positive comp growth in the full price channel.
- Capri Holdings Ltd (CPRI) plans to use proceeds from the Versace sale to repay debt, strengthening the balance sheet.
- Total company revenue decreased by 2.5% compared to the previous year.
- The results were negatively impacted by a higher-than-anticipated effective tax rate, affecting net income by $24 million.
- Michael Kors revenue decreased by 2% on a reported basis compared to the prior year.
- Jimmy Choo's revenue decreased by 6% on a reported basis compared to the prior year.
- The outlet channel was impacted by reduced promotional activity, affecting revenue.
Ladies and gentlemen, greetings, and welcome to Capri Holdings Limited second-quarter fiscal 2026 financial results conference call. (Operator Instructions) As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Jennifer Davis, Vice President of Investor Relations. Please go ahead.
Good morning, everyone, and thank you for joining us on Capri Holdings Limited Second Quarter Fiscal '26 Conference Call. With me this morning are Chairman and Chief Executive Officer, John Idol; and Interim Chief Financial Officer, Raj Mehta. Before we begin, let me remind you that certain statements made on today's call may constitute forward-looking statements, which are subject to risks and uncertainties that could cause actual results to differ from those we expect. Those risks and uncertainties are described in today's press release and in the company's SEC filings, which are available on the company's website. Investors should not assume that statements
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
