The American fashion group Capri Holdings Limited also had to accept significant drops in sales in the fourth quarter of the 2024/25 financial year. In addition, the group of companies reported a significantly higher loss. However, the figures that the company released on Wednesday did not turn out quite as badly as analyst: in the inside.
The current quarter report also contains the results of the Versace brand, the takeover of which is to be carried out by the Italian fashion group Prada Spa in the second half of the year. Both companies had agreed in mid-April that the Prada Group would buy the fashion house for around $ 1.37 billion (1.2 billion euros).
Corporate sales drop by around 15 percent
In the fourth quarter, which was completed on March 29, Capri’s group sales were around $ 1.03 billion (914 million euros). This corresponded to a decline of 15.4 percent compared to the same period last year. Adjusted to change course changes, the proceeds shrank by 14.1 percent.
The significant decline was due to losses in all group brands. Michael Kors’ turnover fell by 15.6 percent (currency-adjusted -14.4 percent) to $ 694 million, the revenues of Jimmy Choo decreased by 2.9 percent (1.5 percent currency) to $ 133 million. Versace had to accept a minus of 21.2 percent (currency -adjusted -19.7 percent) to $ 208 million.
Due to significantly lower costs, the group was able to reduce its operational loss, which had been $ 543 million in the previous year, to $ 116 million. However, the net loss due to the shareholder grew by 37 percent to $ 645 million (569 million euros) due to higher tax burdens. Adjusted for special effects, the corresponding deficiency was $ 581 million after a adjusted net profit of $ 50 million had been recorded in the previous year.
In the entire financial year, the net loss amounts to more than one billion US dollars
In the entire financial year, the group sales were $ 4.44 billion, which corresponded to a decline of 14.1 percent compared to the previous year. At around $ 1.18 billion, the designated net loss was more than five times as high as in the previous year, in which it was $ 229 million.
The group also published a first outlook on the current financial year 2025/26, in which Versace’s results are no longer included. Accordingly, management expects an annual turnover in the range of 3.3 to 3.4 billion US dollars, an operational profit of around $ 100 million and a diluted profit per share between $ 1.20 and $ 1.40.
CEO John Idol looks “optimistic” into the future
With a view to the future, Chairman and CEO John Idol were confident: “The financial year 2024/25 was a difficult year for Capri Holdings, but at the start of the 2025/26 financial year, we are optimistic about our further way,” he said in a statement. Despite the uncertainties that arise from the development of global tariffs, the group will concentrate on its new strategic measures, which should lead to future growth. The company is still in an “early phase” of its turnaround, but can already recognize “positive signs” for the effectiveness of the strategy, Idol emphasized.