×
185
Fashion Jobs
AQUAGENICS RESEARCH & DEVELOPMENT INDIA PVT. LTD.
Area Sales Manager
Permanent · Pune
MUTHOOT FINCORP
Area Manager
Permanent · Tiruchirappalli
INFINIX
National Sales Manager
Permanent · MUMBAI
1MG
Sales Manager - Diagnostics
Permanent · National Capital Region
DODLA DAIRY LIMITED
Area Sales Manager -Salem
Permanent · Salem
HALONIX TECHNOLOGIES PVT LTD
Area Sales Manager - Fans & Lighting / Retail Sales
Permanent · Ludhiana
BASIC ENTERPRISES PVT LTD
Area Sales Manager
Permanent · Mumbai
ZEE LABORATORIES LIMITED
Area Sales Manager / Regional Sales Manager
Permanent · Bhopal
CROSS COUNTRY INFOTECH
Production Manager
Permanent · Jodhpur
PROPERTYXPO.COM
Area Sales Manager| Real Estate Portfolio Management | Gurgaon
Permanent · Gurugram
RELIABLE CLOTHING PVT. LTD
Production Manager - Garment Manufacturing Export House
Permanent · Mumbai
HUMAN TOUCH
Sales Manager - Mumbai
Permanent · Mumbai
KAZO FASHION PRIVATE LIMITED
Garment Technician
Permanent · Noida
UMANO HEALTHCARE PRIVATE LIMITED
Regional Sales Manager / Area Sales Manager- (Pharma Sales) mp
Permanent · Bhopal
OLIVE GREEN CONSULTING LLP
Urgently Looking For Production Manager - Gurgaon
Permanent · Gurugram
MONEYWISE FINANCIAL SERVICES
Area Sales Manager || Nbfc (Lap / bl) - Delhi
Permanent · National Capital Region
MAGICBRICKS
Area Sales Manager
Permanent · Thane
KENT RO SYSTEMS
Corporate Sales Manager
Permanent · Chennai
RELAXO
Area Sales Manager
Permanent · Bargarh
OUTHOUSE JEWELLERY
E-Commerce Manager
Permanent · NOIDA
TOUCH MOBILES
Wanted Area Sales Manager - Touch Mobiles
Permanent · Khammam
GOKALDAS EXPORTS
Manager - Fabric Warehouse - Garments Background - Bhopal, mp
Permanent · Bhopal
By
Reuters API
Published
Feb 3, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Capri raises revenue forecast as demand for luxury fashion booms

By
Reuters API
Published
Feb 3, 2022

Michael Kors owner Capri Holdings Ltd on Wednesday reported a 24% jump in holiday-quarter sales and raised its full-year outlook, extending a string of strong performances from luxury goods companies as demand for high fashion soars.


Versace - Spring-Summer2022 - Womenswear - Milan - © PixelFormula



Shares of the company, which also owns Versace and Jimmy Choo, jumped 11% in premarket trading, as it also forecast revenue and profit for the next fiscal year above estimates.

Capri's better-than-expected sales follows similar reports from European peers LVMH, Burberry and Prada which have shown a strong rebound from the worst troughs of the COVID-19 pandemic, thanks to a desire among cooped-up consumers to spoil themselves with designer handbags and apparel.

The company's total revenue rose to $1.61 billion in the third quarter ended Dec. 25, ticking back up above pre-pandemic levels with help from higher prices and fewer promotions. On an adjusted basis, the company earned $2.22 per share in the quarter, above analysts' estimate of $1.69 per share.

The higher prices helped expand the company's profit margins amid soaring shipping and manufacturing expenses.

"Capri continues to impress on revenues and margins as they used the pandemic to re-fashion their business," BMO Capital Markets analyst Simeon Siegel said.

The company now forecasts fiscal 2022 revenue of $5.56 billion, compared with its prior estimate of about $5.4 billion. It lifted its full-year profit per share forecast to $6, from its prior estimate of about $5.30 per share.

"We believe they are one of the few brands that are emerging healthier from the pandemic," Siegel said.

Capri also projected fiscal 2023 revenue of about $6.1 billion, above analysts estimates of $5.97 billion, while it forecast fiscal 2023 profit of $6.60 per share — above expectations of $6.05 per share.

© Thomson Reuters 2022 All rights reserved.