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L'OREAL GROUP
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KEWAL KIRAN CLOTHING LTD
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FEDBANK FINANCIAL SERVICES LTD
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HERO HOUSING FINANCE LIMITED
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PROJOBS
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Production Manager- Diagnostic Portfolio
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ELITE DECOR PVT LTD
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L'OREAL GROUP
Sales Executive - Professional Division - Bhopal
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L'OREAL GROUP
Executive - Sales Cpd - Bhatinda (n)
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L'OREAL GROUP
Sales Executive - Cpd - Bhatinda
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L'OREAL GROUP
Area Sales Manager, Cpd - Chandigarh
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HEALTHKART
Area Sales Manager- Healthkart - Lucknow, Agra, Gwalior
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HALONIX TECHNOLOGIES PVT LTD
Area Sales Manager - Lighting Retail Sales (Rajkot)
Permanent · Rajkot
ELECTRONICA FINANCE LTD
Area Sales Manager - Bangalore Machinery Loan
Permanent · Bengaluru
NANDANI CREATION LTD
Production Manager
Permanent · Jaipur
ELECTRONICA FINANCE LTD
Area Sales Manager - Kolhapur Machinery Loan
Permanent · Kolhapur
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager (Jharkhand All District)
Permanent · Ranchi
By
Reuters
Published
May 26, 2021
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Michael Kors parent Capri expects upbeat full year as luxury demand rebounds

By
Reuters
Published
May 26, 2021

Capri Holdings Ltd on Wednesday forecast annual revenue and profit above analysts’ expectations, as shoppers return to stores in the United States following speedy vaccinations.


Michael Kors - Fall-Winter2020 - Womenswear - New York - © PixelFormula



The company said it would raise prices this fall and spring next year for Michael Kors, its biggest brand by sales that it planned to transform into a “smaller, more profitable business.”

The emphasis comes as the brand’s about 4% sales decline in the fourth quarter was in contrast to that at its Versace and Jimmy Choo businesses which grew 10% and 16%, respectively.

Chief Executive Officer John Idol said the company plans to further Michael Kors’s appeal as a more luxurious brand in North America with fewer promotional merchandise on shelves by curtailing the amount of supply.

Idol said the company expanded its database for the brand by 18% in the fourth quarter, adding “it also means that the price increases are not stopping that customer from crossing the line and purchasing products.”

Capri expects total revenue of about $5.1 billion for its fiscal 2022, higher than Wall Street projections of $4.99 billion, according to IBES data from Refinitiv.

Gross margin is expected to increase about 50 basis points, even as transportation costs increase.

The company has kept a tight control over inventory during the pandemic that has bolstered its gross margin.
Capri said e-commerce sales rose 80% in the fourth quarter, with retail sales rising 13%.

Bigger rivals LVMH, Hermes and Gucci-owner Kering have also benefited as traditionally reluctant luxury products sellers invest heavily to take advantage of the shift to selling online.

Fourth-quarter revenue of $1.20 billion beat estimates of $1.02 billion. On an adjusted basis, the company earned 38 cents per share, handily topping the estimate of 2 cents.

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