Capri believes Michael Kors will start growing again in the fourth quarter.

Oct 30, 2026, 1:26 PM ETResultsRead the original at Benzinga

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Capri beat second-quarter estimates and raised its full-year targets, pointing to improving sales and profit. Michael Kors sales fell and next-quarter sales are expected below estimates, but the raised targets and Jimmy Choo's growth support the stronger reading.

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That gives Capri more evidence that its recovery is taking hold. Jimmy Choo grew, and renovated stores saw more visitors and sales. Still, Michael Kors sales fell 8.6%, and expected third-quarter sales trail estimates. Capri raised its full-year targets after the quarter, so the improvement currently carries more weight.

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