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Capri raises fiscal 2022 guidance

Jul 12, 2021 United States
Capri raises fiscal 2022 guidance
The global fashion luxury group is raising its guidance for Fiscal 2022 revenue and adjusted earnings per share. This information and a broader view of Capri's vision, growth strategies and long-term outlook, was shared at the Company's Virtual Investor Day
Capri now expects Fiscal 2022 revenue to be approximately 5.15 billion US dollars compared to previous guidance of approximately 5.10 billion US dollars, primarily reflecting better than anticipated fiscal first quarter sales trends. As a result of the better than expected first quarter outlook, the company now expects fiscal 2022 adjusted earnings per share to be between 3.80 US dollars and 3.90 US dollars as compared to prior guidance of 3.70 US dollars to 3.80 US dollars.

John D. Idol, the Company’s Chairman and Chief Executive Officer, commented: "As the world reopens, we are pleased to be seeing better than expected performance from all three of our iconic fashion luxury houses and are raising our outlook for the year. With greater visibility into the path of the global economic recovery, we now have even more confidence in the future and believe our three luxury houses position Capri Holdings to deliver multiple years of strong revenue and earnings growth.”

Image credits: Michael-Kors by Fashion Gone Rogue

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