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Capri stock jumps 17% as Jimmy Choo sales surge, margins widen and Michael Kors owner swings back to profit. Jimmy Choo delivered double-digit growth while Capri reduced net debt and continued efforts to revive Michael Kors. Published 10/31/26 AT 12:59 AM AEDT Capri Holdings shares jumped more than 16% in early trading Friday. The owner of Michael Kors and Jimmy Choo reported quarterly revenue above expectations, improved margins and a return to profit. The stock rose $2.65, or 16.5%, to $18.70, lifting Capri's market value to about $2.1 billion. The shares are still down about 23% over the past 52 weeks. Revenue tops estimates Capri reported revenue of $809 million for its fiscal second quarter, which ended Sept. 26. That was down 5.5% from a year earlier, or 4.9% in constant currency, but ahead of analysts' expectations. The company earned 25 cents a share on a reported basis and 42 cents on an adjusted basis. It swung back to profit after a loss in the year-earlier period. Gross margin improved to 63.3% from 61%, a sign that the company relied less on discounting. "We are encouraged by the momentum building at both Michael Kors and Jimmy Choo," Chairman and Chief Executive John Idol said. Jimmy Choo shines Jimmy Choo was the standout. Revenue at the luxury shoe and handbag brand rose 11.5% to $146 million. Michael Kors, Capri's largest brand, remained weak, with revenue down 8.6% to $663 million. The brand has struggled with declining sales as Capri tries to reposition it as a more upscale label. Key fiscal second-quarter figures: Revenue: $809 million, down 5.5% Michael Kors revenue: $663 million, down 8.6% Jimmy Choo revenue: $146 million, up 11.5% Gross margin: 63.3%, up from 61% Adjusted EPS: 42 cents Net debt: $336 million, down from $1.6 billion Return to growth expected Capri gave a full-year outlook for total revenue of about $3.42 billion, operating income of about $175 million and earnings of about $2.20 a share. It expects Michael Kors revenue of about $2.77 billion for the year and Jimmy Choo revenue of about $650 million. For the current quarter, which includes the holiday season, Capri forecast revenue of about $1.005 billion and earnings of about 95 cents a share. Idol said the company continues "to expect total company revenue to return to growth in the second half of fiscal 2027." "As these efforts continue to gain traction, we remain confident in our ability to deliver sustainable growth," he said. Stronger balance sheet Capri has sharply reduced its debt. Net debt fell to $336 million from $1.6 billion a year earlier, and total borrowings stood at $461 million at the end of the quarter. The improvement follows Capri's sale of the Versace brand, which reduced the company to two brands and generated cash to pay down debt. A long rebuild Capri has gone through a turbulent few years. A planned $8.5 billion sale to Coach owner Tapestry collapsed in 2024 after U.S. regulators sued to block it, leaving Capri to pursue a turnaround on its own. Since then, it has focused on cutting discounts, refreshing products and repositioning Michael Kors as a luxury brand. Friday's rally suggests investors are growing more confident that the strategy is starting to work, although Michael Kors' continued sales decline remains the company's biggest challenge. MEET IBT NEWS FROM BELOW CHANNELS

Michael Kors listed as Coming Soon at Westfield Culver City. Michael Kors listed as a coming-soon tenant at 6000 Sepulveda Boulevard. Published Date: October 29, 2026, 9:59 PM EDT Michael Kors is preparing to open a new store at Westfield Culver City, where the shopping center's online directory lists the designer brand as "Coming Soon." The store is listed at 6000 Sepulveda Boulevard in Culver City. Founded in 1981, Michael Kors is a global fashion brand known for its luxury accessories and ready-to-wear collections. Its labels include Michael Kors Collection and MICHAEL Michael Kors, with products spanning handbags, small leather goods, clothing and other accessories. Michael Kors' official store locator also now includes a Culver City location at the same address, indicating that the company is listing the upcoming store in its own directory. Neither listing currently provides a confirmed opening date. What Now Los Angeles reached out to SVP of Retail Stores & Operations Sharonda Weatherspoon to inquire about the expected opening timeline, but did not receive a response prior to press time. The upcoming store adds to Culver City's retail and restaurant landscape, which has also seen several new concepts covered by What Now Los Angeles. Recent coverage includes HWA ON, a Korean barbecue restaurant; Wine and Eggs, a specialty wine shop and wine bar; and Caffè Luxxe, which is preparing to open at the historic Washington Triangle Building. Love its content? Add WhatNow as a preferred source on Google to see more of its trusted coverage when you search. Be the first to know. From new restaurant openings to exciting retail launches and real estate insights, be the first to know what's happening in Los Angeles Daniela Velez is a bilingual journalist and communications strategist based in Colombia. She has covered stories across the humanitarian, political, and entertainment sectors, bringing a multidisciplinary perspective shaped by her background in Communications and Political Philosophy from Universidad de La Sabana and additional training in Modern Journalism from NYU