Filing Flows › Capri Holdings (CPRI) › Q1 FY26
Capri Holdings (CPRI) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Aug 7, 2025
Capri Holdings (CPRI) reported revenue of $797M for the first quarter fiscal 2026 (Q1 FY26), -6% from a year earlier and -23% from the quarter before. Operating margin was 2.0%, net earnings $53.0M (6.6% of revenue).
Capri Holdings, Q1 FY26: revenue $797M (-6% year over year), operating margin 2.0%, net earnings $53.0M, operating cash flow −$8.0M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $797M | -23% | -6% |
| Gross profit | $502M | -20% | -6% |
| Operating profit | $16.0M | — | +45% |
| Net earnings | $53.0M | — | — |
| Operating cash flow | −$8.0M | — | — |
What changed
Revenue was $797.0M in Q1 FY26, down 6% year over year and down 23% from the previous quarter. Michael Kors was the largest line at 80% of revenue. Michael Kors lost $40.0M year over year (down 6%), 78% of the total change.
Gross margin was 63.0%, down 0.1 points from a year earlier. Operating profit was $16.0M, a 2.0% margin (up 0.7 points year over year). Operating expenses fell 7% while revenue fell 6%. Net earnings were $53.0M. The effective tax rate was -43.2%. Non-operating items added $21.0M, 57% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$8.0M. Non-cash charges added back $30.0M of depreciation and amortization and $14.0M of share-based compensation. Working capital and other items used $105.0M. Capital expenditures of $13.0M exceeded it, leaving free cash flow of −$21.0M.
Questions
What was Capri Holdings' revenue in the first quarter fiscal 2026?
Capri Holdings (CPRI) reported revenue of $797M for the first quarter fiscal 2026 (Q1 FY26), -6% from a year earlier and -23% from the quarter before.
Was Capri Holdings profitable in the first quarter fiscal 2026?
Operating profit was $16.0M (2.0% of revenue) and net earnings $53.0M.
Source: Capri Holdings 10-Q on SEC EDGAR.