In the three months to the 1^st of April, Capri Holdings' total revenue amounted to 1.33 billion US dollars, reflecting a decrease of 10.5%, on a comparable basis to the same period of last year. Particularly, in this fourth quarter, Versace's revenue declined by 13.0% in this period to 274 million US dollars, Jimmy Choo's revenue was down by 3.2%, to 151 million US dollars, and Michael Kors's revenue decreased by 10.9% to 910 million US dollars, year-over-year.

The company's gross profit totalled 867 million US dollars in the fourth quarter of fiscal 2023, and its gross margin stood at 64.9%, as compared to the 956 million US dollars in gross profit and gross margin of 64.6% recorded in a similar period of the prior year.

In the last quarter of the previous fiscal year, Capri posted a net loss of 34 million US dollars, or minus 0.28 US dollars per diluted share, on a comparable basis to the net income of 81 million US dollars, or 0.54 US dollars per diluted share, recorded in the same quarter of fiscal 2022.

Fiscal 2023 Results

The fashion group posted total revenue of 5.62 billion US dollars in the twelve months to the 1^st of April, down by 0.6% from fiscal 2022. Jimmy Choo's revenue increased by 3.3% last year, reaching a “record” revenue of 633 million US dollars, while Michael Kors' revenue declined by 1.8% to 3.88 billion US dollars and Versace's revenue was down by 1.7% to 1.11 billion US dollars, on a comparable basis to the previous year.

Moreover, last fiscal year, Capri Holdings posted a net income of 616 million US dollars, or 4.65 US dollars per diluted share, as compared to an 822 million US dollars net income, or 5.39 US dollars per diluted share, recorded over fiscal 2022.

Fiscal 2024 Outlook

“While we recognize that there are near-term uncertainties in the Americas, we are encouraged by the strong trends in Asia and continued growth in EMEA. Looking to fiscal 2024, we anticipate revenue will increase low-single-digits and earnings per share will increase mid-single-digits. Beyond fiscal 2024, we remain confident in our ability to achieve our long-term goals over time due to the resilience of the luxury industry, the strength of our three powerful iconic brands and the talented group of employees executing our strategic initiatives”, commented John D. Idol, the Company’s Chairman and Chief Executive Officer.

The company is therefore expecting to reach in fiscal 2024 a total revenue of approximately 5.7 billion US dollars and diluted earnings per share of about 6.40 US dollars. For the first quarter, Capri Holdings is anticipating a 1.2 billion US dollars in revenue and diluted earnings per share of approximately 0.70 US dollars.