14 January, 2023 - 17 January, 2023
Riva del Garda, Italy
01 February, 2023 - 02 February, 2023
New York, United States
13 March, 2023 - 15 March, 2023
22 April, 2023 - 26 April, 2023
North Carolina, USA
17 June, 2023 - 20 June, 2023
Riva del Garda , Italy
Capri Holdings has reported strong growth in its second quarter financial results for the 2023 fiscal year.
The company achieved a revenue increase of 8.6% year-on-year to US$1.41 billion, up by 17.5% on a constant currency basis. Capri achieved a net income of US$224 million, compared to US$200 million in the prior year.
Versace achieved revenue of US$308 million in the second quarter, up by 9.2% and 27.7% on a constant currency basis. Jimmy Choo reported a total of US$142 million in revenue, up by 3.6% and 15.3% on a constant currency basis.
Meanwhile, Michael Kors saw revenue increase by 9.2% year-on-year to US$962 million, with an increase of 14.6% on a constant currency basis.
Looking forward to the full 2023 fiscal year, Capri expects total revenue of around US$5.7 billion. Versace is expected to achieve revenues of US$1.15 billion, Jimmy Choo of US$640 million and Michael Kors should bring in US$3.91 billion.
John D. Idol, Chairman and CEO of Capri Holdings, said: "Looking at the remainder of fiscal 2023, we are now taking a more cautious view with our revenue outlook due to an increasingly uncertain macroeconomic environment, foreign currency headwinds and the ongoing impact of Covid related restrictions in China.”