Capri Holdings Limited (NYSE:CPRI), a global fashion luxury group, announced its financial results for the fourth quarter and full year fiscal 2025 ended March 29, 2025.
Overview of Capri Holdings Fourth Quarter Fiscal 2025 Results

✅Total revenue of $1.0 billion decreased 15.4% compared to last year. On a constant currency basis, total revenue decreased 14.1%.
✅Gross profit was $631 million and gross margin was 61.0%, compared to $767 million and 62.7% in the prior year.
✅Loss from operations was $116 million and operating margin was (11.2)% compared to an operating loss of $543 million and operating margin of (44.4)% in the prior year. Adjusted loss from operations was $33 million and adjusted operating margin was (3.2)%, compared to adjusted operating income of $78 million and adjusted operating margin of 6.4% in the prior year.

✅Net loss was $645 million, or $(5.44) per diluted share, compared to a net loss of $472 million, or $(4.03) per diluted share, in the prior year. Adjusted net loss was $581 million, or $(4.90) per diluted share, compared to adjusted net income of $50 million, or $0.42 per diluted share, in the prior year. Results include a non-cash tax valuation allowance of $545 million taken against the Company’s deferred tax assets, of which $119 million was related to Versace.
✅Net inventory as of March 29, 2025 was $869 million, a 1% increase compared to the prior year, primarily reflecting $60 million of earlier than anticipated receipts.
✅Cash flow from operating activities for fiscal year 2025 was $281 million, while capital expenditures were $128 million, resulting in free cash flow of $153 million.
✅Cash and cash equivalents totaled $166 million, and total borrowings outstanding were $1.5 billion, resulting in net debt of $1.3 billion as of March 29, 2025 versus $1.5 billion last year.

Fiscal Year 2026 Outlook

Due to the uncertainty around tariffs, including the potential impact on consumer spending, as well as fluctuating foreign currency exchange rates, we are providing guidance assuming a range of outcomes.

For Capri Holdings, the Company expects the following:

✅Total revenue of approximately $3.3 to $3.4 billion
✅Operating income in a range around $100 million, including the estimated tariff impact
✅Net interest income of approximately $85 to $90 million
Effective tax rate of approximately 15%
✅Weighted average diluted shares outstanding of approximately 119 million
✅Diluted earnings per share of approximately $1.20 to $1.40
✅Capital expenditures of approximately $110 million