Capri Holdings reported “positive sales in Mainland China across all luxury houses” in the quarter, while e-commerce sales increased 60%. For the second quarter of the Group’s fiscal year 2021, revenue totalled US$1.1 billion, down 23% year-on-year. Gross profit was US$710 million and gross margin was 64%, compared with US$874 million and 60.6% in the prior year. Income from operations came in at US$153 million and operating margin was 13.8% compared with US$75 million and 5.2%, respectively, a year ago. Net income for the quarter amounted to US$122 million, or US$0.81 per diluted share compared with US$73 million, or US$0.47 in the prior year. 

The Versace brand recorded revenue of US$195 million in the quarter, down 14.5% year-on-year, while Jimmy Choo’s revenue was US$122 million (-2.4%) and Michael Kors totalled US$793 million (-27.2%).