Capri Holdings surprises with sales of 856 million – setbacks in sight!

Capri Holdings surprises with sales of 856 million – setbacks in sight!

The fashion group Capri Holdings, which includes well-known brands such as Michael Kors, Jimmy Choo and Versace, recently published its financial figures for the second quarter of the 2026 financial year. The company exceeded expectations with sales of $856 million. However, despite this encouraging news, the group continues to struggle with a large net loss, which has increased to US$34 million, after reporting a net profit of US$42 million in the same period last year Fashion Network reported.

CEO John D. Idol is optimistic and highlights progress in the company's strategic initiatives. However, adjusted for currency effects, sales fell 4.2 percent, while the operating loss amounted to $12 million. Gross profit for the quarter was $522 million, representing a gross margin of 61 percent - down slightly from last year's $547 million and a gross margin of 62.3 percent.

Brands in focus

In detail, Michael Kors' sales fell by 1.8 percent to $725 million in the second quarter, or even by 3.3 percent after adjusting for currency effects. Jimmy Choo also had to contend with a 6.4 percent decline in sales to $131 million. Idol announced that proceeds from the planned sale of Versace will be used to reduce the company's debt. A new $1 billion share repurchase program was also approved, with implementation expected to take place in fiscal 2027.

For the full fiscal year 2026, Capri Holdings expects total sales of between $3.375 billion and $3.45 billion and operating income of around $100 million. Michael Kors is forecasting annual sales of $2.8 to $2.875 billion, while Jimmy Choo expects $565 to $575 million.

A look at Capri

In addition to the financial aspects, you should know that the name “Capri” is so popular in the fashion world for a reason. The eponymous Italian island in the Tyrrhenian Sea is known not only for its breathtaking natural beauty, but also as a historic holiday destination that dates back to the time of the Roman Republic. The impressive cliffs, the famous coastal grottos and the historic Villa Jovis from the time of Emperor Tiberius stand out. These rich cultural backgrounds certainly contribute to the appeal of the brand, which embodies a particular lifestyle, which has made it a popular destination for European artists and writers, such as Wikipedia describes.

Capri is also known for its fine hotels and first-class restaurants, although agriculture on the island is limited. Visitors can easily reach the island via ferry and hydrofoil services, which attract countless day-trippers during peak season, particularly July and August.

Capri Holdings remains an exciting chapter in the fashion world as the company overcomes challenges while forging new paths for growth and re-establishing brand identity, which is important not only in the financial world but also in the creative landscape.