CPRI earnings analysis
What we found in CPRI's 10-K: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Capri Holdings Limited reported its fiscal 2026 results with total revenue of $3.474 billion, a decrease of 4.1% from the prior year, and net income from continuing operations of $80 million compared to a loss of $526 million in fiscal 2025. The performance was influenced by a strategic focus on improving product quality and reducing promotional activities, alongside operational cost improvements. The company aims for a return to profitability and anticipates low-single-digit revenue growth alongside a substantial increase in adjusted EPS for fiscal 2027.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Strong EPS Performance
- Reported EPS of $0.65 in FY 2026, reversing from loss of $4.47 in FY 2025.
- Revenue Resilience
- Total revenue of $3.474 billion in FY 2026, despite a 4.1% decline from $3.621 billion in FY 2025.
- Improved Profit Margins
- Gross margin improved to 62.3% in FY 2026 compared to 62.2% in FY 2025.
- Effective Cost Management
- Selling, general and administrative expenses decreased by 1.7% to $1.964 billion, contributing to improved profitability.
- Reduction in Impairment Charges
- Impairment charges decreased significantly to $40 million from $142 million, indicating improved asset management.
- Successful Share Repurchase Program
- Authorized $1 billion share buyback program initiated in Q4 FY 2026 with $79 million utilized.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Decline in Revenue Sources
- Revenue from Michael Kors down by 4.7% to $2.874 billion, reflecting ongoing challenges.
- Foreign Currency Risks
- Material foreign currency gain losses of $2 million in FY 2026, uncertain currency stabilization impacts.
- Tariff Repercussions
- Anticipation of uncertain regulatory implications from ongoing U.S. tariffs on foreign goods, affecting cost structures.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.65
- Gross margin
- 62.3%
- Operating margin
- 0.7%
- Segment
- Michael Kors
- Segment
- Jimmy Choo
What they said about what is next.
Expecting low-single-digit revenue growth; 40% growth in adjusted EPS for FY 2027.
The filing reads better than the one before it.
What came before.
- 10-Q · August 8, 2024
- Capri reported quarterly revenue of $1,067,000,000 (down $162,000,000 vs $1,229,000,000 a year ago) and a net loss attributable to Capri of $14,000,000 (diluted EPS $(0.11) vs $0.41 in the prior year). Operating loss…
- 10-Q · February 8, 2024
- Capri reported quarterly revenue of $1,427.0M (down $85.0M vs prior-year quarter) and net income attributable to Capri of $105.0M, or $0.88 diluted. Gross profit was $928.0M (gross margin ~65.0%) while income from…
- 10-Q · February 8, 2023
- Capri reported quarterly revenue of $1,512 million, down from $1,609 million in the prior-year quarter, with income from operations declining to $236 million from $331 million. Gross profit held at $1,005 million…
- 10-Q · July 30, 2021
- Capri Holdings reported a strong rebound in the quarter with total revenue of $1,253 million (vs $451 million year-ago) and a return to profitability: diluted EPS of $1.41 and operating income of $258 million. The…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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