Capri Holdings ( (CPRI) ) has released its Q2 earnings. Here is a breakdown of the information Capri Holdings presented to its investors.
Capri Holdings Limited announced a challenging second quarter for fiscal 2025, with a notable revenue decline of 16.4% compared to the previous year. This decrease reflects a global softening in demand for fashion luxury goods, affecting its performance across key brands.
The financial performance of Capri Holdings shows a decrease in total revenue to $1.08 billion, with a gross profit of $694 million. The company’s adjusted operating margin stood at 3.0%, while adjusted earnings per share were $0.65. Notably, Versace experienced a significant revenue drop of 28.2%, while Jimmy Choo saw a modest revenue increase of 6.1%.
Despite the current downturn, Capri Holdings continues to expand its consumer base, adding 10.9 million new consumers across its brands. The company’s strategic focus remains on long-term growth, emphasizing the enduring brand equity of Versace, Jimmy Choo, and Michael Kors.
Looking forward, Capri Holdings is navigating through the complexities of a proposed merger with Tapestry, Inc., which is currently facing legal challenges. The company remains committed to its strategic initiatives to achieve sustainable growth in the evolving luxury fashion market.