U.S. Fashion Firm Capri Holdings Reports $ 1.2 Billion in Fourth Quarter FY21

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Capri Holdings Limited, a global luxury fashion group based in the United States, announced that its revenue remained stable at $ 1.2 billion in the fourth quarter (Q4) of fiscal 2021 ended March 27 2021, compared to the corresponding quarter of the previous fiscal year. The company’s net loss for the reporting period was reduced to $ 182 million (Q4 FY20: $ 552 million).

“We are satisfied with our fourth quarter results as sales improved sequentially and exceeded our expectations. Retail sales increased 13% from a year ago, driven by an improvement in both e-commerce and in-store sales, ”said John Idol, chief executive officer of the company, in a statement. Press.

“As we continued to implement our strategic initiatives, profits were higher than expected thanks to better revenue results and gross margin expansion at our three luxury homes,” added Idol.

Gross profit in the fourth quarter of fiscal 21 was $ 737 million ($ 631 million), while operating loss was reduced to $ 139 million ($ 536 million). The company’s e-commerce sales improved sequentially by 80% (approximately).

In the quarter, Versace sales rose 10.3% to $ 235 million ($ 213 million), while Jimmy Choo sales rose 15.9% to $ 124 million ($ 107 million). of dollars). However, Michael Kors’ sales fell 3.9% to $ 838 million ($ 872 million).

“Looking ahead, we remain optimistic about the outlook for the luxury fashion industry and Capri Holdings. As the world begins to recover from the pandemic, we are confident in our growth opportunities for Versace, Jimmy Choo and Michael Kors. We believe our three luxury houses are positioning Capri Holdings to generate several years of revenue and earnings growth, as well as increase shareholder value, ”Idol concluded in the release.

Fibre2Fashion Information Office (JL)

Capri Holdings Limited, a global luxury fashion group based in the United States, announced that its revenue remained stable at $ 1.2 billion in the fourth quarter (Q4) of fiscal 2021 ended March 27 2021, compared to the corresponding quarter of the previous fiscal year. The company’s net loss for the reporting period was reduced to $ 182 million (Q4 FY20: $ 552 million).


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