Capri Holdings Limited delivered a mixed but better than expected third quarter, with revenue down but earnings and cash generation ahead of guidance as the group pivots to a leaner, Michael Kors , and Jimmy Choo only portfolio.
The company also used proceeds from the sale of Versace to slash net debt to just $80 million , sharply improving its balance sheet heading into fiscal 2027 . Headline Q3 Fiscal 2026 Numbers In the quarter ended December 27, 2025 , total revenue from continuing operations fell 4.0 percent
year over year to $1.025 billion , or 5.9% lower on a constant currency basis. Gross profit came in at $623 million with a gross margin of 60.8% , versus 63.1% a year earlier, as underlying margin expansion was offset by higher than expected tariffs.
Operating income rose to $46 million , lifting the operating margin to 4.5% from 2.4% last year, while adjusted operating income reached $79 million for a 7.7% adjusted margin.
Net income from continuing operations jumped to $57 million , or $0.47 per diluted share, with adjusted EPS at $0.81 versus $0.63 in the prior year period.
Brand Performance: Michael Kors Soft, Jimmy Choo Returns To Profit Michael Kors generated quarterly revenue of $858 million , down 5.6% on a reported basis and 7.3% in constant currency…
