Buoyed by better-than-expected results in the third quarter, which ended last December, the owner of Michael Kors and Jimmy Choo has raised its targets for the full fiscal year. But with sales continuing to decline, the stock market does not share its enthusiasm…
Freed from the “burden” of Versace, Capri Holdings is approaching the future with greater confidence…
The American group, now focused on its Michael Kors and Jimmy Choo brands, has just raised, on February 3, its revenue target to a range of $3.45 to $3.48 billion for the 2025-2026 fiscal year, ending in late March, instead of the $3.38 to $3.45 billion previously targeted.
A third quarter that exceeded expectations
This optimism is fueled by the group’s quarterly performance, which exceeded expectations. Capri Holdings did report a 4% decline in total revenue on a reported basis (-5.9% at constant exchange rates) to €1.03 billion in the third quarter, which ended in December. However, this was better than analysts’ forecasts (€1 billion).
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Read also > Capri Holdings back in the race
Featured photo: © Michael Kors
