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Shares of Michael Kors parent Capri Holdings rise after revenue beats expectations
Capri Holdings Ltd. stock rose 3.3% in Wednesday premarket trading after the luxury fashion house reported fiscal first-quarter revenue that beat expectations. Net losses totaled $180 million, or $1.21 per share, after net income of $45 million, or 30 cents per share, last year. Adjusted loss per share was $1.04, ahead of the FactSet consensus for a loss of $1.17. Revenue of $451 million was down from $1.35 billion last year and beat the FactSet forecast for $426 million. Michael Kors revenue was down 68.7% to $307 million for the quarter. Versace revenue fell 55.1% to $93 million. And Jimmy Choo's revenue was down 67.7% to $51 million. Capri did not give fiscal 2021 guidance due to the uncertainty caused by the coronavirus. Capri stock has slumped 63.2% for the year to date while the S&P 500 index has gained 2.3% for the period.
https://finance.yahoo.com/m/5b36525.../shares-of-michael-kors-parent.html?.tsrc=rss
Capri Holdings Ltd. stock rose 3.3% in Wednesday premarket trading after the luxury fashion house reported fiscal first-quarter revenue that beat expectations. Net losses totaled $180 million, or $1.21 per share, after net income of $45 million, or 30 cents per share, last year. Adjusted loss per share was $1.04, ahead of the FactSet consensus for a loss of $1.17. Revenue of $451 million was down from $1.35 billion last year and beat the FactSet forecast for $426 million. Michael Kors revenue was down 68.7% to $307 million for the quarter. Versace revenue fell 55.1% to $93 million. And Jimmy Choo's revenue was down 67.7% to $51 million. Capri did not give fiscal 2021 guidance due to the uncertainty caused by the coronavirus. Capri stock has slumped 63.2% for the year to date while the S&P 500 index has gained 2.3% for the period.
https://finance.yahoo.com/m/5b36525.../shares-of-michael-kors-parent.html?.tsrc=rss
