Capri Holdings reported a return to net profit for the quarter ended June 28, 2025, even as revenue from continuing operations fell 6.0% year over year to $797 million. The result, reported by FashionUnited on August 6, 2025, reflects improved earnings alongside weaker turnover—not a recovery in sales. The article title does not name a company; Capri is the closest supported match, so this identification is provisional. These are historical results, not Capri’s latest performance as of October 2026.
How did Capri return to profit while revenue fell?
The key is to distinguish revenue from profit. Revenue measures sales; profit reflects what remains after costs and other expenses. FashionUnited attributed the improvement in Capri’s first-quarter earnings to significantly lower costs, while continuing-operations revenue declined.
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| Measure | Q1 FY2025/26 | Prior-year quarter |
|---|---|---|
| Revenue from continuing operations | $797 million; down 6.0% reported and 7.7% at constant currency | Not stated in the FashionUnited report |
| Operating profit | $16 million | $11 million |
| Net profit attributable to shareholders | $53 million | $14 million net loss |
| Net profit from continuing operations | $56 million | $5 million |
The figures are reported in FashionUnited’s August 6, 2025 account. The revenue comparison is year over year; constant-currency revenue adjusts for exchange-rate movements. The two measures answer different questions: the reported decline includes currency effects, while the constant-currency decline compares sales without those effects.
Which brands were included in the continuing business?
FashionUnited described Michael Kors and Jimmy Choo as the brands remaining in Capri’s portfolio after the Versace transaction. The Q1 revenue figure is for continuing operations and excludes Versace. Capri had agreed to sell Versace to Prada in mid-April 2025; the agreement’s timing matters because the Q1 figures should not be read as though Versace remained in the continuing-operations total.
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| Brand | Q1 FY2025/26 revenue | Year-over-year change |
|---|---|---|
| Michael Kors | $635 million | Down 5.9% reported; down 7.3% currency adjusted |
| Jimmy Choo | $162 million | Down 6.4% reported; down 9.2% currency adjusted |
Brand figures and changes are as reported by FashionUnited. Both brands’ reported sales declined, so the quarter’s profit improvement should not be mistaken for broad-based sales growth.
What did Capri’s management say?
FashionUnited attributed this statement to Capri chairman and CEO John Idol: “We are encouraged by our first quarter results. Trends have steadily improved, resulting in both revenue and earnings per share exceeding our expectations.” The outlet said its English-language version was translated using an AI tool and edited by a human desk editor.
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How does the quarter fit the prior fiscal year?
Capri’s full-year FY2025 release reported revenue of $4.7 billion, down 13.3% on a reported basis, and a net loss of $1.1 billion. Those are full-year figures, not a like-for-like prior-quarter comparison. They provide context for the difficult backdrop but should not be combined with Q1 FY2025/26 results as if they covered the same period or business scope. The company’s May 28, 2025 release is available at Capri Holdings’ FY2025 results page.
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What the results do—and do not—show
- Capri’s Q1 FY2025/26 continuing-operations revenue declined, while operating and net profit improved.
- Lower costs were identified as a contributor to improved earnings; the available account does not establish that sales recovered.
- The figures describe the quarter ended June 28, 2025. They do not establish Capri’s performance after that period or its current outlook.
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