Capri Holdings — the parent company of Michael Kors, Jimmy Choo and (for now) Versace — said revenues declined 4.2% on a constant currency basis to $856 million in the second quarter of 2026, ended 27 September 2025. This was slightly better than analyst expectations of a $815 million to $835 million ballpark.

“We are encouraged by the early signs of recovery at our fashion and luxury houses, and remain optimistic about the direction of the business,” chair and CEO John Idol said on Tuesday’s earnings call. “However, we recognize that it will take more time for the full effect to be reflected in our results. Despite the dynamic macroeconomic environment, we are on track to stabilize our business this year.”

Gross profit declined year-on-year from $547 million to $522 million, with gross

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