Capri Holdings reported total revenue of US$1.6 billion, an increase of 24% compared to the previous year (covid impacted). On a constant currency basis, total revenue increased 25%.
Versace saw revenue of US$251 million in the period, growing 29% year-on-year. Meanwhile, Jimmy Choo reported an increase of 47% in revenue to of US$178 million and Michael Kors brought in US$1.18 billion in revenue, an increase of 20% on the same period in 2020.
Although the company maintains that Covid-19 issues could drastically affect financial results in upcoming periods, it has forecasted total revenue of approximately US$5.56 billion for the full 2022 fiscal year, including approximately US$75 million from the 53rd week.
For the full year, Capri expects Versace to bring in total revenue of approximately US$1.08 billion, Jimmy Choo should achieve total revenue of approximately US$600 million, while Michael Kors is forecasted to end with total revenues of approximately US$3.88 billion.
John D. Idol, Capri Holdings Chairman and Chief Executive Officer, said: “We are pleased to report third-quarter performance exceeded our expectations for revenue, operating margin and earnings per share. Results were driven by strong momentum across all three luxury houses reflecting the power of Versace, Jimmy Choo and Michael Kors as well as the continued execution of our strategic initiatives.”