Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  Capri Holdings Limited    CPRI   VGG1890L1076

CAPRI HOLDINGS LIMITED

(CPRI)
  Report
SummaryQuotesChartsNewsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Capri estimates 70% plunge in first-quarter revenue, plans Michael Kors store closures

07/01/2020 | 08:38am EST
Michael Kors logo is seen in a shop in downtown Lisbon

Michael Kors owner Capri Holdings Ltd on Wednesday estimated a stunning 70% drop in first-quarter revenue as the COVID-19 pandemic hammered demand for its luxury handbags and dresses.

Sales for luxury goods companies dried up early in the quarter as lockdowns to contain the outbreak shut shopping hubs in Europe, Asia and North America and crippled major department operators like Neiman Marcus.

Capri, which also owns Versace and Jimmy Choo, said it may permanently close up to 170 stores, mostly Michael Kors, over the next two years and cut capital expenditures by about $150 million in fiscal 2021 to ease the pressure.

"Customers are probably going to be less in stores over the next few years until we get a vaccine and until people feel more comfortable shopping outdoors," Capri Chief Executive Officer John Idol said on a call with analysts.

The company also forecast a return to profits in the second half of fiscal 2021, which started in April, helping send its shares up over 3%.

Capri said sales at its reopened stores hit 50% to 75% of prior year levels with stronger trends in China, but shipments to department stores had plunged and would result in "significant" losses in the first quarter.

Analysts had forecast a 46.7% fall in revenue for the first quarter ended June, according to IBES data from Refinitiv.

In delayed fourth-quarter results, Capri's total revenue fell 11.3% to $1.19 billion in the three months ended March 28, slightly above the average analyst estimate of $1.12 billion.

The company reported a fourth-quarter net loss attributable to Capri of $551 million, compared to a profit of $19 million a year earlier.

On an adjusted basis, the company earned 11 cents per share, missing estimates of 15 cents per share.

(Reporting by Uday Sampath in Bengaluru; Editing by Krishna Chandra Eluri and Sriraj Kalluvila)


© Reuters 2020
All news about CAPRI HOLDINGS LIMITED
11/26CAPRI : Announces Participation at the Morgan Stanley Global Consumer & Retail C..
AQ
11/25CAPRI HOLDINGS LIMITED : Announces Participation at the Morgan Stanley Global Co..
BU
11/06CAPRI : Announces Second Quarter Fiscal 2021 Results; Revenue and Earnings Excee..
AQ
11/06Alibaba, Richemont to invest $1.1 billion in Farfetch with focus on China
RE
11/05CAPRI : Q2 fiscal 2021 earnings presentation
PU
11/05CAPRI : Management's discussion and analysis of financial condition and results ..
AQ
11/05CAPRI HOLDINGS : Fiscal 2Q Earnings Snapshot
AQ
11/05CAPRI HOLDINGS LTD : Results of Operations and Financial Condition, Financial St..
AQ
11/05CAPRI HOLDINGS LIMITED : Announces Second Quarter Fiscal 2021 Results
BU
11/05Michael Kors owner Capri beats quarterly revenue estimates
RE
More news
Financials (USD)
Sales 2021 4 003 M - -
Net income 2021 135 M - -
Net Debt 2021 1 312 M - -
P/E ratio 2021 46,2x
Yield 2021 -
Capitalization 5 423 M 5 423 M -
EV / Sales 2021 1,68x
EV / Sales 2022 1,27x
Nbr of Employees 13 920
Free-Float 66,0%
Chart CAPRI HOLDINGS LIMITED
Duration : Period :
Capri Holdings Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends CAPRI HOLDINGS LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 32,38 $
Last Close Price 36,00 $
Spread / Highest target 100%
Spread / Average Target -10,1%
Spread / Lowest Target -44,4%
EPS Revisions
Managers
NameTitle
John D. Idol Chairman & Chief Executive Officer
Thomas J. Edwards EVP, Chief Operating & Financial Officer
M. William Benedetto Lead Independent Director
Stephen F. Reitman Independent Director
Judy Mary Gibbons Independent Director
Sector and Competitors