Capri Earnings: Solid Results Affirm Long-Term Benefits of Strategy; Shares Very Undervalued
Capri's fiscal 2027 second-quarter sales fell 5.5%, as an 8.6% decline from Michael Kors (82% of total sales) offset Jimmy Choo's (18% of sales) 11.5% increase. Gross margin rose 230 basis points to 63.3% on greater full-price sales, and adjusted operating margin improved to 3.8% from 2.3%.