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CPRI · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Capri Holdings Limited (CPRI) stock moving?
Capri reported Q2 fiscal 2027 on Oct 30 with revenue of $809M against a $781M estimate and adjusted EPS of $0.42 against $0.21. Management raised FY2027 GAAP EPS guidance to $2.20 from $2.15 (estimate $2.04) and sales guidance to $3.420B from $3.400B (estimate $3.402B). The Q3 outlook was mixed: EPS of $0.95 slightly beat the $0.94 estimate, but sales of $1.005B fell short of the $1.021B estimate. Management expects Michael Kors to return to growth in Q4, which is the key turnaround test. On Nov 2, Barclays (Overweight, $24), Goldman Sachs (Neutral, $20), UBS (Neutral, $19) and Wells Fargo (Equal-Weight, $18) all raised targets, but three of the four sit below the current price. The stock closed at $16.06 on Oct 29, then jumped 16.3% to $18.68 on Oct 30 on 9.8M shares, roughly three times the prior average volume of about 2.5-2.8M. It extended to $20.05 on Nov 2 on 7.4M shares, then consolidated between about $20.5 and $21.8 and closed at $21.73 on Nov 10. That is roughly 35% above the Oct 29 close. Volume has faded to 2.5M shares, and the stock has been holding above the Nov 6 low of $20.48. The post-earnings move has already priced in much of the beat, and the valuation now looks stretched against analyst targets.
News behind the analysis
- Capri Holdings Limited Reports Second Quarter Fiscal 2027 ResultsCapri reported Q2 fiscal 2027 revenue of $809 million and adjusted EPS of $0.42. Both figures came in above consensus.
- Capri Holdings Q2 Adj. EPS $0.42 Beats $0.21 Estimate, Sales $809.000M Beat $781.045M EstimateAdjusted EPS was roughly double the $0.21 estimate, and sales beat the $781.0M estimate by about $28M.
- Capri Holdings Raises FY2027 GAAP EPS Guidance from $2.15 to $2.20 vs $2.04 Est; Raises FY2027 Sales Guidance from $3.400B to $3.420B vs $3.402B EstFull-year GAAP EPS guidance was raised to $2.20 from $2.15, above the $2.04 estimate. Sales guidance was raised to $3.420B from $3.400B, slightly above the $3.402B estimate.
- Capri Holdings Sees Q3 GAAP EPS $0.95 vs $0.94 Est; Sees Sales $1.005B vs $1.021B EstThe third-quarter EPS outlook is slightly above estimates, while the sales outlook of $1.005B is below the $1.021B estimate.
- Capri Expects Michael Kors to Return to Growth in Fourth QuarterManagement expects the Michael Kors brand to return to growth in the fourth quarter. This is a key turnaround milestone for the company.
- Capri Holdings Q2 2027 Earnings Call TranscriptThe full transcript of the second-quarter fiscal 2027 earnings call is available. It contains management's commentary on results and outlook.
- Barclays Maintains Overweight on Capri Holdings, Raises Price Target to $24Barclays kept its Overweight rating and raised its price target to $24, the highest target among the recent analyst updates.
- Goldman Sachs Maintains Neutral on Capri Holdings, Raises Price Target to $20Goldman Sachs kept a Neutral rating and raised its price target to $20.
- UBS Maintains Neutral on Capri Holdings, Raises Price Target to $19UBS kept a Neutral rating and raised its price target to $19 from $17. The target is below the current share price.
- Wells Fargo Maintains Equal-Weight on Capri Holdings, Raises Price Target to $18Wells Fargo kept an Equal-Weight rating and raised its price target to $18, the lowest target among the recent updates.
About Capri Holdings Limited
Capri Holdings is a global fashion group that owns two brands: Michael Kors, an accessible-luxury label, and Jimmy Choo, a luxury shoe and accessories label. It sold Versace to Prada in late 2025 to pay down debt, so it is now a smaller company built around two brands, and Michael Kors is in the middle of a turnaround after several years of falling sales.
How it makes money
The company sells handbags, shoes, small leather goods and clothing through its own retail and outlet stores (about 880 worldwide), online and through department-store wholesale. It also earns licensing fees, for example on watches, eyewear and fragrance. In fiscal 2026 (year ended March 2026), revenue was about $3.5 billion. Michael Kors brought in roughly 83% of that (about $2.9 billion) and Jimmy Choo about 17% (about $0.6 billion). Michael Kors produces almost all of the operating profit, while Jimmy Choo lost a small amount.
What usually moves CPRI
- Whether the Michael Kors turnaround is working (sales trends and discounting)
- US consumer spending and department-store wholesale demand
- Tariffs on imported goods and possible tariff refunds
- Luxury demand in Asia and Europe, and currency swings
- Debt levels and how the Versace sale proceeds are used