Capri Holdings Ltd (NYSE:CPRI), a global fashion luxury group, on Tuesday reported its mixed second-quarter financial results.

The company reported an adjusted loss of 3 cents per share, missing analysts’ expectations for a profit of 13 cents. The loss compares with earnings of 64 cents per share a year earlier, reflecting a higher-than-anticipated tax rate.

Total revenue fell to $856 million from $878 million in the same period last year, though it topped the consensus estimate of $825.7 million.

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Gross margin slipped to 61.0% from 62.3% in the prior-year quarter. The company said tariffs reduced the gross margin rate by about 130 basis points, while adjusted operating margin stood at 2.3% for the quarter.

Net inventory at the end of the quarter was $766 million, down 2.8% from a year earlier. Cash and cash equivalents totaled $120 million, while total borrowings stood at $1.76 billion, resulting in net debt of $1.64 billion as of Sept. 27, 2025, compared with $1.58 billion a year earlier.

Segment Performance

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