×
316
Fashion Jobs
HALONIX TECHNOLOGIES
Area Sales Manager/Territory Manager - Institutional Sales
Permanent · Dehradun
GOKALDAS EXPORTS
Manager - Warehouse (Apparel / Garment Background)
Permanent · Bengaluru
ADIDAS
Director - Finance fp&a Fsf
Permanent · CHENNAI
ADIDAS
Manager Digital Analytics - Product
Permanent · GURUGRAM
ADIDAS
Senior Technology Consultant
Permanent · GURUGRAM
RJCUBE STAFFING SOLUTIONS
Production Manager - Upholstery (Leather & Fabrics) For Greater Noida
Permanent · Greater Noida
RJCUBE STAFFING SOLUTIONS
qa/qc- Garments-Woven/Knits For Garments Buying House, Noida
Permanent · Noida
NIKE
Information Security Risk Analyst (Grc) – Cis
Permanent · Bengaluru
RJCUBE STAFFING SOLUTIONS
qa/qc- Garments (Jersey, Etc) For Garments Buying House, Noida
Permanent · Noida
ZEN TECHNO ENGINEERING PVT LTD.
Production Manager
Permanent · Pune
ADIDAS
Manager Buying & Planning Operations
Permanent · GURUGRAM
ADIDAS
Product Owner Data Foundations
Permanent · GURUGRAM
ADIDAS
Senior Product Owner
Permanent · GURUGRAM
ADIDAS
Product Owner
Permanent · GURUGRAM
CROCS
Associate Demand Planner
Permanent ·
CROCS
HR Manager
Permanent ·
BRIDGING TALENTS
Quality Control Manager ii Retail Fashion Brand ii Jaipur / Bangalore
Permanent · Bengaluru
ALLEGIS GROUP
Opening For Sales Manager - Chennai & Kolkata
Permanent · Chennai
IDFC FIRST BANK
Opening For Area Sales Manager - Corporate Salary Mumbai
Permanent · Mumbai
TATA AUTOCOMP
Opening For Production Head at Chinchwad Plant
Permanent · Pune
THE BANYAN HR CONSULTS
Regional Sales Manager For Women's Wear Garments CO For Delhi & Ncr
Permanent · National Capital Region
PEOPLE ALLIANCE WORKFORCE
Quality Manager / Quality Head - Garments Manufacturing Company
Permanent · National Capital Region
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 2023 All rights reserved.