Capri Slashes FY27 Revenue Outlook to $3.4B on Weak Handbag Demand
CPRI is trading near its 52-week low of $15.195 (1.3% above the low).
Summary
Capri Holdings cut its fiscal 2027 revenue forecast to $3.4 billion from about $3.53 billion, citing soft demand for Michael Kors leather goods. The revision comes just over two months after the company guided for low single-digit revenue growth and 40% EPS growth, making this a sharp reversal. With the stock already near its 52-week low, the lowered outlook signals that the turnaround narrative is stalling. The prior guidance had been a key catalyst for the stock's recovery following the Versace sale and debt reduction.
At the time of this announcement, CPRI was trading at $15.39 on NYSE in the Trade & Services sector, with a market capitalization of approximately $1.9B. The 52-week trading range was $15.20 to $28.27. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.