×
339
Fashion Jobs
NIKE
India Logistics Partner Management Manager
Permanent · Bengaluru
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager (Jharkhand All District)
Permanent · Chatra
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager /Sales Manager (up)
Permanent · Mirzapur
FINO PAYMENTS BANK
Territory Sales Manager - Merchant & Distributor Onboarding - wb
Permanent · Cooch Behar
SUGUNA FOODS PRIVATE LIMITED
Area Sales Manager-Animal Health Products Sales (Bangalore)
Permanent · Bengaluru
MUTHOOT FINCORP LTD
Area Manager - Chennai
Permanent · Chennai
SUGUNA FOODS PRIVATE LIMITED
Area Sales Manager-Animal Health Products Sales (Bangalore)
Permanent · Bengaluru
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager/Sales Manager (Bihar)
Permanent · Katihar
VIJAY SYSTEMS ENGINEERS PVT LTD ( UMBERGOAN)
Production Manager
Permanent · Vapi
VIDVAS HR SOLUTIONS PRIVATE LIMITED
sr Manager - Production . Only Leather Bags Exp - Chennai
Permanent · Chennai
SHREE SADGURU MASALA & SPICES IND PVT LTD
Regional Sales Manager
Permanent · Navi Mumbai
MAGNATEK ENTERPRISES
Looking For Area Sales Manager
Permanent · Chennai
BANDHAN LIFE SCIENCE PRIVATE LIMITED
Area Sales Manager
Permanent · Kolkata
WINGS PHARMACEUTICALS
Area Sales Manager - Generic Division
Permanent · Ludhiana
FIRST SOLUTION
Agency Development Manager/Recruitment Development Manager(Insurance)
Permanent · Pune
NCL INDUSTRIES LIMITED (BISON PANEL)
Area Sales Manager - Hyderabad (Boards Division)
Permanent · Hyderabad
LN GLOBAL CAREER SERVICES LLP
Required Regional Sales Manager For Pharmaceutical Company
Permanent · Chennai
LN GLOBAL CAREER SERVICES LLP
Required Zonal Sales Manager For Pharmaceutical Company
Permanent · Chennai
LEVI'S
Group Product Manager
Permanent · Bengaluru
AVENUE SUPERMARTS LIMITED
Excellent Opportunity With Dmart _ Production Managers
Permanent · Chikmagalur
ENOAH I SOLUTION INDIA PRIVATE LIMITED
Area Sales Manager
Permanent · Bengaluru
KISHOR EXPORTS
Garment Technician
Permanent · Agra
By
Reuters API
Published
Jul 30, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Michael Kors, Versace parent Capri beats revenue estimates

By
Reuters API
Published
Jul 30, 2021

Michael Kors parent Capri Holdings Ltd on Friday raised its annual forecasts for the second time after trouncing Wall Street estimates for quarterly results, as shoppers splurge on its high-end clothes and bags.


Photo: Michael Kors



The global luxury goods industry is betting that a resumption of social events and parties following speedy vaccinations will encourage more shoppers to spend on fashion after being stuck at home for more than a year.

Shares rose as much as 16% as revenue at Michael Kors nearly tripled, making it the biggest boost to total sales and signaling a recovery from pandemic lows.

"While it is clear, the world will continue to see challenges as the global pandemic evolves, including regional closures and temporary restrictions, ...the ultimate path to recovery remains strong", said Chief Executive John Idol.

The company's European peers Louis Vuitton-owner LVMH and Kering have also reported a rebound.

LVMH posted record profitability and revenue at its Fendi, Loewe and Celine brands, while Kering said Yves Saint Laurent had reached a critical scale with sales bouncing back in all regions.

Capri, meanwhile, raised its forecast for annual revenue to about $5.3 billion, just about a month after predicting $5.15 billion, while warning that the Delta variant could dampen some expectations around a quick recovery in Europe.

However, its outlook did not account for any significant additional store shutdowns, extension of closures or fresh government curbs that could hurt traffic and sales trends.

The Versace and Jimmy Choo owner forecast annual adjusted profit to be about $4.50 per share, higher than the $3.80 to $3.90 range predicted earlier.

Overall revenue nearly tripled to $1.25 billion in the first quarter compared to a year ago when stores were largely shut. Excluding items, the company earned a better-than-expected $1.42 per share.

 

© Thomson Reuters 2021 All rights reserved.