Luxury group lowers fiscal 2027 revenue forecast to $3.4 billion amid regional demand softness and currency headwinds.
Capri Holdings reported first-quarter adjusted earnings of $0.67 per share, beating the $0.39 estimate, while revenue reached $769 million, above the $757 million forecast. The result marked a 3.5% decline from $797 million in the same period last year.
The company reduced its full-year revenue outlook to $3.4 billion from the prior consensus of $3.51 billion, citing $50 million in inventory delays at Michael Kors, $50 million in weaker EMEA demand, and $35 million in foreign exchange impacts. Adjusted earnings guidance remains at $2.15 per share, reflecting 40% growth year-over-year.
Shares edged lower following the announcement, reflecting investor caution over the revised revenue forecast despite the quarterly beat.