US' luxury group Capri Holdings Q2 revenue surges to $1.3 bn

11 Nov '21

2 min read

Pic: Capri Holdings

Capri Holdings Limited, a US-based global fashion luxury group, has posted a 17 per cent revenue hike to $1.3 billion in the second quarter of fiscal 2022 compared to $1.1 billion in the corresponding quarter of last year. The revenue earned is better than anticipated results across all three luxury houses—Versace, Jimmy Choo and Michael Kors.

The gross profit of the company also increased to $884 million compared to $710 million in the corresponding quarter of the prior year, while the net income increased by $78 million to $200 million compared to a net income of $122 million for the three months ended September 2020.

"We are pleased with our second quarter results with revenue, gross margin, operating margin and earnings per share all exceeding our expectations. This performance reflects the power of Versace, Jimmy Choo and Michael Kors as well as the execution of our strategic initiatives. Capri Holdings strong results are a testament to the dedication, resilience and agility of the entire team across the globe," John D Idol, the chairman and chief executive officer of the company, said in a press release.

During the second quarter, the company also repurchased approximately 1.8 million ordinary shares for approximately $100 million in open market transactions.

Fibre2Fashion News Desk (DD)

More Fashion News - United States Of America...