- Capri Holdings Ltd (NYSE:CPRI) reported fourth-quarter FY22 sales growth of 24.6% to $1.49 billion, beating the consensus of $1.41 billion.
- Versace revenue increased 34% Y/Y to $315 million, Jimmy Choo revenue rose 25.8% to $156 million, and Michael Kors revenue expanded 21.8% to $1.021 billion.
- Gross profit rose 29.5% Y/Y to $956 million, and gross margin expanded 250 basis points to 64.1%. Adjusted gross margin expanded 20 basis points to 63.7%.
- The operating margin was 8%, and operating income for the quarter amounted to $119 million.
- Operating expenses decreased 4.6% Y/Y to $837 million.
- The company held $169 million in cash and equivalents as of April 2, 2022.
- Adjusted EPS of $1.02 beat the analyst consensus of $0.82.
- Net inventory on April 2, 2022, was $1.096 billion, a 48.9% increase Y/Y.
- Buyback: CPRI board of directors has announced a $1 billion share buyback.
- Outlook: Capri sees FY23 sales of about $5.95 billion versus the consensus of $6.08 billion.
- Capri expects FY23 EPS of about $6.85, against the consensus of $6.57.
- Price Action: CPRI shares are trading higher by 1.13% at $49.29 on the last check Wednesday.
- Photo Via Company
Get all your news in one place.
100’s of premium titles.
One app.
Start reading
One app.
Get all your news in one place.
100’s of premium titles. One news app.
Solid Earnings, $1B Buyback, Detailed FY23 Outlook - Michael Kors Parent's Q4 Highlights
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member?
Sign in here
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Our Picks