Capri Holdings, the parent company of Michael Kors, reported a 15.4% YoY decline in revenue to $1.03 billion for the fourth quarter ending March 29, 2025, with net losses widening to $645 million. For the full 2025 fiscal year, the group’s revenue fell 14% to $4.44 billion, while net losses grew to $1.18 billion. By brand, Michael Kors’ annual revenue dropped 14% to $3.01 billion, Jimmy Choo slipped 2.1% to $605 million, and Versace saw a sharper decline of 20.2% to $821 million. As previously reported, Capri announced in April it would sell Versace to Prada for 1.25 billion euros ($1.36 billion) to restructure its assets and address ongoing performance challenges.