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Aug. 5, 2020, 7:21 a.m. EDT

Shares of Michael Kors parent Capri Holdings rise after revenue beats expectations

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By Tonya Garcia

Capri Holdings Ltd. /zigman2/quotes/206301876/composite CPRI +4.42% stock rose 3.3% in Wednesday premarket trading after the luxury fashion house reported fiscal first-quarter revenue that beat expectations. Net losses totaled $180 million, or $1.21 per share, after net income of $45 million, or 30 cents per share, last year. Adjusted loss per share was $1.04, ahead of the FactSet consensus for a loss of $1.17. Revenue of $451 million was down from $1.35 billion last year and beat the FactSet forecast for $426 million. Michael Kors revenue was down 68.7% to $307 million for the quarter. Versace revenue fell 55.1% to $93 million. And Jimmy Choo's revenue was down 67.7% to $51 million. Capri did not give fiscal 2021 guidance due to the uncertainty caused by the coronavirus. Capri stock has slumped 63.2% for the year to date while the S&P 500 index /zigman2/quotes/210599714/realtime SPX +1.19% has gained 2.3% for the period.

/zigman2/quotes/206301876/composite
US : U.S.: NYSE
$ 22.19
+0.94 +4.42%
Volume: 5.54M
Oct. 29, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$3.19 billion
Rev. per Employee
$341,762
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/zigman2/quotes/210599714/realtime
US : S&P US
3,310.11
+39.08 +1.19%
Volume: 2.74B
Oct. 29, 2020 5:17p
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