Capri Holdings raises fiscal 2022 guidance

United States
Published:  30 June, 2021
Credit: Michael Kors

The parent company of luxury brands such as Versace, Michael Kors and Jimmy Choo has raised its fiscal 2022 revenue and adjusted earnings per share guidance. The updated guidance, along with a broader view of the company’s vision, growth strategies and long-term outlook, was shared at the company's’ Virtual Investor Day on June 29, 2021.

The company now expects fiscal 2022 revenue to be approximately US$5.15 billion compared to previous guidance of approximately US$5.10 billion, primarily reflecting better than anticipated fiscal first quarter sales trends.

As a result of the better than expected first quarter outlook, the company now expects fiscal 2022 adjusted earnings per share to be between US$3.8 and US$3.9 as compared to prior guidance of US$3.7 to US$3.8.

John Idol, the Company’s Chairman and Chief Executive Officer, said, "With greater visibility into the path of the global economic recovery, we now have even more confidence in the future and believe our three luxury houses position Capri Holdings to deliver multiple years of strong revenue and earnings growth.”