The company, which owns Michael Kors and Jimmy Choo, reported full-year revenue of US$3.47 billion for the year ended March 28, 2026, down 4.1% on a reported basis and 6.2% in constant currency. Q4 revenue declined 3.7% year-on-year to US$796 million.
Income from continuing operations reached US$80 million for the year, compared with a loss of US$526 million in fiscal 2025. For the fourth quarter, net loss from continuing operations was essentially break-even at US$1 million, compared with a loss of US$579 million a year earlier. Adjusted net income for the quarter totalled US$27 million.
Capri generated operating cash flow of US$197 million during fiscal 2026 and free cash flow of US$134 million. Net debt fell to US$222 million at year-end, compared with approximately US$1.4 billion a year earlier, reflecting the completed sale of Versace and continued balance-sheet improvement. Inventory levels were reduced by 17% year-on-year to US$581 million.
By brand, Michael Kors reported Q4 revenue of US$656 million, down 5.5% on a reported basis, while operating income increased to US$57 million, resulting in an operating margin of 8.7%. Jimmy Choo delivered revenue growth of 5.3% to US$140 million, although it recorded an operating loss of US$20 million during the quarter.
Chairman and Chief Executive Officer John D Idol said the company was encouraged by the progress made against strategic initiatives introduced last year, including efforts to strengthen product innovation, brand desirability and consumer engagement. He said improving trends across both brands reinforced confidence in a return to revenue and earnings growth.
For fiscal 2027, Capri expects revenue of approximately US$3.53 billion, representing low single-digit growth, alongside diluted earnings per share of around US$2.15 and operating income of approximately US$190 million.
