Our Terms & Conditions | Our Privacy Policy
Capri Holdings’ financial results for the year to 29 March 2025 showed total revenue dropped 14% to $4.442bn (£3.29bn) and gross profit fell 15% to $2.8bn (£2.1bn)
Net loss grew to $1.179bn (£86m) from $229m (£169m) the previous year.
During the fourth quarter, gross profit dropped 17.7% year on year to $631m (£468m), while its net loss grew to $645m (£478m) from $472m (£350m) the previous year.
Revenue was also down, decreasing by 15.4% year on year to $1.0bn (£74m).
Sales for its owned brands also dropped in the fourth quarter. Versace, which has been sold to Prada Group in a $1.375bn (£1bn) deal and will be completed in the second half of 2025, had a revenue decrease of 21.2% to $208m (£154m), and an operating loss of $13m (£9.6m) compared with an operating income of $1m (£742,000) the previous year.
Michael Kors revenue decreased 15.6% year on year to $694m (£515m) and Jimmy Choo’s revenue dropped 2.9% to $133m (£98m). Jimmy Choo also had an operating loss of $10m (£7.42m) compared with an operating loss of $8m (£5.9m) the previous year.
John Idol, chairman and chief executive officer of Capri Holdings, said: “Fiscal 2025 was a challenging year, but we are optimistic about our path forward as we enter fiscal 2026. 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.”
As uncertainty around tariffs continues, the company expects total revenue of $3.3bn-$3.4bn ($2.44bn-£2.52bn) for 2026.
Idol added: “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 $4bn (£2.96bn) in revenue and Jimmy Choo to $800m (£593m) over time, while restoring operating margin to the double-digit range.”
[ad_1]
Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.
Aggregated From –
[ad_2]
Comments are closed.