Capri Holdings (CPRI) Q4 FY26 earnings call

After a reset year, Capri frames FY26 as stabilization giving way to inflection: deliberate quality-of-sale cuts (off-price, third-party, promotions) depressed Michael Kors revenue yet lifted full-price sell-through and pricing, while Jimmy Choo's accessories-led product cycle returned it to top-line growth. The forward stance leans on modernized brand storytelling, an accelerated store-renovation push and a Versace-strengthened balance sheet to reaccelerate both houses — with the Michael Kors outlet channel the key back-half swing factor once quality-of-sale laps.