Companies

A growing mode Capri will announce second quarter results in a month

Oct 7, 2021 United Kingdom

The global fashion luxury group, owner of brands Michael Kors, Jimmy Choo and Versace, will disclose the results for the second quarter of the fiscal year 2022 on the 3rd of November

In the first quarter of the current fiscal year, ended on the 26th of June 2021, total revenue of Capri Holdings increased by 178% to 1.25 billion US dollars, as compared to the same period last year. On a constant currency basis, total revenue increased by 164%. This growth was transversal to the three fashion houses of the group.

In the first quarter of 2022, Versace’s revenue grew by 158% to 240 US million dollars (on a constant currency basis, total revenue increased by 136%), Jimmy Choo’s revenue rose by 178% to 142 million US dollars (on a constant currency basis, total revenue increased by 147%) and Michael Kors’ revenue increased by 184% to 871 million US dollars (on a constant currency basis, total revenue increased by 175%), on a comparable basis to 2021.

As a result of better-than-expected results for the first quarter, the company had raised its guidance for fiscal 2022.

For the second quarter of fiscal 2022, Capri Holdings is expecting total revenue of approximately 1.25 billion US dollars and diluted earnings per share of approximately 0.90 US dollars. According to Capri’s forecast, Versace’s total revenue should amount to approximately 260 million US dollars, Jimmy Choo’s total revenue should reach approximately 120 million US dollars and Michael Kors’s total revenue should add up to approximately 870 million US dollars.

Image credits: thefallmag.com

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