US fashion group Capri Holdings` Q1 sales up 178%; raises FY22 outlook

Fashion

02 Aug `21

2 min read

Capri Holdings Ltd, a US-based global fashion luxury group, reported 178 per cent revenue growth to $1,253 million in first quarter (Q1) of FY22 with all three of its iconic brands Versace, Jimmy Choo and Michael Kors, exceeding the revenue expectations. Following better than expected performance, the company has raised its FY22 revenue forecast to $5.3 billion.

Capri Holdings Ltd, a US-based global fashion luxury group, reported 178 per cent revenue growth to $1,253 million in first quarter (Q1) of FY22 with all of its iconic brands Versace, Jimmy Choo and Michael Kors, exceeding the revenue expectations. Following better than expected performance, the company has raised its FY22 revenue forecast to $5.3 billion.#

Gross profit for the quarter ended on June 26, 2021, rose to $856 million ($302 million), while income from operations surged to $258 million ($162 million). The company’s net income improved to $219 million (loss: $180 million).

Capri Holdings Ltd, a US-based global fashion luxury group, reported 178 per cent revenue growth to $1,253 million in first quarter (Q1) of FY22 with all of its iconic brands Versace, Jimmy Choo and Michael Kors, exceeding the revenue expectations. Following better than expected performance, the company has raised its FY22 revenue forecast to $5.3 billion.#

"We were pleased by our first quarter performance which reflected the strength of Capri Holdings' three global fashion luxury houses, Versace, Jimmy Choo and Michael Kors. All of our luxury houses significantly exceeded our revenue and earnings expectations for the quarter, as they continued to deepen consumer desire and engagement,” John D Idol, chairman and chief executive officer at Capri Holdings, said in a press release.

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