Financial Planning & Analysis Analyst

Michael Kors opens in Illum department store in Copenhagen. Michael Kors has opened a new shop-in-shop at Illum luxury department store in Copenhagen, bringing the brand's flair and sophistication to the global shopping destination. Located on the ground floor, the new space marks Michael Kors' first women's lifestyle shop-in-shop concept in Europe. With entrances accessible from both inside the department store and from the exterior street side, the 968-square-foot shop features a curated selection of Michael Kors fashion and accessories, including handbags, ready-to-wear, small leather goods and footwear. The new store reflects the brand's commitment to laid-back luxury, with an emphasis on ease and sophistication. Soft neutral tones, residential décor cues and an open, airy ambience create a setting designed for customers to browse, shop and experience the brand's style and service. Founded in 1891, Illum is one of Copenhagen's most iconic luxury department stores and a leading destination for premium fashion, beauty and design.

Capri Holdings explores sale as Michael Kors turnaround continues. Camilla Rydzek 22 September 2026 Capri Holdings has informally approached prospective investors about a possible sale, although a potential $809 million liability linked to its currency-hedging contracts could complicate any transaction. Capri has not announced a formal sales process and the discussions remain preliminary, with a transaction not expected in the near term, sources familiar with the matter told WWD. The New York-listed luxury group Capri now consists of Michael Kors and Jimmy Choo after completing the sale of Versace to the Prada Group in December 2025. By sharpening its portfolio Capri has reduced its net debt to $224 million compared with $1.5 billion a year earlier. Michael Kors remains central to the group's overall performance, representing approximately 83% of revenue from Capri's remaining businesses in fiscal 2026. Investors currently value Capri's publicly traded shares at about $1.7 billion in total, roughly 40% less than at the beginning of 2026. That compares with a market value of around $10 billion in 2022 and more than $20 billion in 2014. Currency hedges complicate a potential transaction One hurdle that any potential buyer will need to face is Capri's currency-hedging programme. The company has $3.5 billion of fixed-rate cross-currency contracts tied to its investments in Swiss francs and a further $2.4 billion tied to investments in euros. Currently the contracts carry an estimated liability of $809 million, which sources told WWD could become payable if Capri is sold. However, Capri said this figure reflects the contracts' market value as of June 2026, meaning it can change and should not be treated as a fixed bill. WWD described the scale of Capri's currency-hedging programme, which consists of contracts intended to reduce Capri's exposure to movements in exchange rates, as unusually large for a fashion group. Yet they have also created revenue for the group, with Capri receiving $352 million in interest over the three fiscal years ended in 2026. Michael Kors sales continue to decline In its first-quarter fiscal 2027 results, Capri reported revenue of $769 million, down 3.5% year on year. Adjusted operating margin rose from 2.5% to 3.6%, supported by higher full-price sell-through and lower tariff rates. Meanwhile Michael Kors revenue fell 7.1% to $590 million, and operating profit declined from $63 million to $55 million. Jimmy Choo revenue on the other hand increased by 10.5% to $179 million, while operating profit rose from $4 million to $13 million. Following the pre-administration sale of Harvey Nichols to Frasers Group, Jimmy Choo is one of the luxury brands that is likely to recover no more than 15% of the £174,201 that it is owed, according to early-stage estimates from the department store group's administrators, FTI Consulting. Harvey Nichols' primary trading company entered administration owing £270.5 million to unsecured creditors Capri has reduced markdown exposure and refreshed its stores as part of the Michael Kors repositioning. Chairman and CEO of Capri, John D. Idol, said the company had 50% less clearance and markdown inventory than a year earlier, while Michael Kors inventory had fallen almost 27% in the previous quarter. Idol said he was "encouraged" by the company's first quarter results, "which exceeded our expectations and demonstrated the progress we are making to build a stronger and more profitable business." He added that the company's strategic initiatives across both brands have been driving "deeper consumer engagement through enhanced brand storytelling and compelling product innovation." Yet, the group lowered its fiscal 2027 revenue forecast to approximately $3.4 billion. Idol commented that while he expects "Jimmy Choo to continue to grow and return to profitability" in fiscal 2027, the revenue outlook had been impacted by "certain headwinds at Michael Kors", including "lower than anticipated inventory levels in the second quarter, softer trends in EMEA and updated foreign currency exchange rate assumptions". He added: "Looking beyond fiscal 2027, the opportunity for Michael Kors and Jimmy Choo remains significant. As our strategic initiatives continue to gain momentum, Capri Holdings is well positioned to drive sustainable growth, enhance profitability and create meaningful long-term value for our shareholders."

Michael Kors debuts Netherlands store. Photo: BGStock72 - stock.adobe.com September 21, 2026 Michael Kors, an apparel and accessories brand, has opened a store in Leidschendam in the Netherlands. The 2,873-square-foot Netherlands store opening comes on the heels of the brand launching a Michael Kors Collection boutique in Palm Beach, Florida, according to a Fashion Network report.