Capri Holdings Q4: Earnings Beat, 10.5% Revenue Decline, Near-Term Uncertainties In The Americas & More
Portfolio Pulse from Shivani Kumaresan
Capri Holdings reported Q4 FY23 sales decline of 10.5% YoY to $1.33 billion, beating analyst consensus of $1.28 billion. Versace, Jimmy Choo, and Michael Kors revenues decreased. The company repurchased 8.5 million shares for $400 million. Q1 revenue and FY24 outlooks are below Street estimates.
May 31, 2023 | 12:59 pm
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NEGATIVE IMPACT
Capri Holdings' Q4 sales beat estimates despite a 10.5% YoY decline. Versace, Jimmy Choo, and Michael Kors revenues decreased. Q1 and FY24 outlooks are below Street estimates.
Capri Holdings reported a decline in sales and revenues for its major brands, Versace, Jimmy Choo, and Michael Kors. Despite beating Q4 estimates, the company's Q1 and FY24 outlooks are below Street estimates, which may negatively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100