Q4 2026 Capri Holdings Ltd Earnings Call Transcript
Key Points
- Capri Holdings Ltd (CPRI) reported a significant gross margin expansion of 490 basis points to 64.8% in the fourth quarter.
- The company returned to profitability in the fourth quarter with earnings per share of $0.22, a significant increase from the previous year.
- Capri Holdings Ltd (CPRI) repurchased $79 million worth of shares, reflecting confidence in future growth and value creation.
- The strategic initiatives at Michael Kors and Jimmy Choo are showing positive results, with increased brand desirability and consumer engagement.
- Jimmy Choo's revenue exceeded expectations, increasing 5.3% year-over-year, driven by strong brand momentum and strategic initiatives.
- Capri Holdings Ltd (CPRI) reported a 4% decline in total company revenue for the fourth quarter, in line with expectations.
- Michael Kors revenue decreased by 5.5% year-over-year, primarily due to quality of sale initiatives and reduced promotional activity.
- The company anticipates continued pressure on the Michael Kors outlet channel due to ongoing quality of sale initiatives.
- Operating expenses increased by $7 million versus the prior year, primarily due to foreign currency exchange rates.
- Jimmy Choo's operating margin was negative 14.3%, impacted by foreign currency and higher selling and administrative expenses.
Greetings. Welcome to Capri Holdings Limited's fourth-quarter fiscal 2026 financial results conference call. (Operator Instructions) Please note that this conference is being recorded.
At this time, I'll now turn the conference over to Jennifer Davis, Vice President of Investor Relations. Thank you, Jennifer. You may now begin.
Good morning, everyone, and thank you for joining us on Capri Holdings Limited's fourth-quarter and full-year fiscal 2026 conference call. With me this morning are John Idol, Capri's Chairman and Chief Executive Officer; Tyler Reddien, Capri's Chief Financial and Chief Operating Officer; and Raj Mehta, Michael Kors Chief Financial Officer and Capri former Interim Chief Financial Officer.
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
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