Capri Holdings Lowers Annual Revenue Forecast to $3.4 Billion

Capri Holdings lowered its full-year revenue forecast from $3.5 billion to $3.4 billion following a 3.5% decrease in total quarterly revenue, which fell to $769 million. The company's Michael Kors brand reported a revenue drop to $590 million, a decline attributed to inventory delays, foreign currency headwinds, and softening consumer trends in the EMEA region linked to the Middle East conflict.

In contrast, Jimmy Choo experienced growth, with quarterly revenue rising 10.5% to $179 million. These financial results follow the strategic sale of Versace to Prada Group in December 2025.

CEO John D. Idol stated that the company remains encouraged by first-quarter results that exceeded expectations and expects Jimmy Choo to return to profitability. He noted that strategic initiatives at both Michael Kors and Jimmy Choo are intended to drive deeper consumer engagement through product innovation and brand storytelling.