Better performance for Capri Holdings in second fiscal quarter

Worldwide
Published:  09 November, 2020

The U.S. headquartered fashion Group has posted a 23% decline in revenue for the second quarter of its fiscal 2021, marking an improvement from the first quarter.

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%).