Capri (CPRI) - 2026 Q2 - Earnings Call Presentation

Financial Performance - Capri Holdings' revenue decreased by 2.5% (or 4.2% on a constant currency basis) in 2Q Fiscal Year 2026[10] - Michael Kors' revenue decreased by 1.8% (or 3.3% on a constant currency basis) in 2Q26[17] - Jimmy Choo's revenue decreased by 6.4% (or 9.3% on a constant currency basis) in 2Q26[24] - The company anticipates revenue of approximately $975 million to $1 billion for 3Q26 and $3.375 billion to $3.45 billion for FY26[26] - The adjusted operating margin is expected to be around 7.0% to 8.0% for 3Q26[26] Strategic Initiatives & Brand Performance - Michael Kors' operating margin was 10.1% in 2Q26[17] - Jimmy Choo's operating margin was (6.9)% in 2Q26[24] - Both Michael Kors and Jimmy Choo experienced a 9% year-over-year increase in their consumer databases[10, 17, 24] Versace Sale & Future Plans - Capri Holdings entered into an agreement to sell Versace to Prada for $1.375 billion in cash[4] - The sale of Versace is expected to close in the company's fiscal third quarter[4] - Capri plans to use the proceeds from the Versace sale to reduce debt, invest in future growth, and reinstate a share repurchase program[6] Fiscal Year 2026 Outlook - The company projects diluted earnings per share (from continuing operations) of approximately $0.70 to $0.80 for 3Q26 and $1.20 to $1.40 for FY26[26]