Capri details a ‘challenging’ year
02/06/2025
During the fourth quarter, Michael Kors revenue fell 15% to $694 million compared with the same quarter last year, Jimmy Choo revenue decreased 3% to $133 million, while Versace revenue declined 21% to $208 million.
In April, the group announced plans to sell Versace to Prada Group.
Group CEO John Idol said: "While there is uncertainty around the impact of tariffs on the global economic environment, we remain focused on executing against our new strategic initiatives that are designed to return Capri Holdings to future growth. The company is still in the early stages of its turnaround and we are seeing positive indicators that our strategies are beginning to work.
"Looking ahead, we continue to expect trends to improve throughout fiscal year 2026 positioning us to return to growth in fiscal 2027 and beyond. We are confident in our ability to grow Michael Kors to $4 billion in revenue and Jimmy Choo to $800 million over time, while restoring operating margin to the double-digit range."
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