24.9 C
Bengaluru
Friday, June 18, 2021
Home Fashion US style firm Capri Holdings stories This fall FY21 gross sales of...

US style firm Capri Holdings stories This fall FY21 gross sales of $1.2 bn


Capri Holdings Restricted, a US-based world style luxurious group, has reported that its income remained flat at $1.2 billion within the fourth quarter (This fall) of fiscal 2021 ended on March 27, 2021, in comparison with the corresponding quarter of earlier fiscal. The corporate’s internet loss for reported interval decreased to $182 million (This fall FY20: $552 million).

 

“We were pleased with our fourth quarter results as revenue improved sequentially and exceeded our expectations. Retail sales increased 13 per cent versus prior year, driven by an improvement in both e-commerce and store sales,” John Idol, firm’s chairman and chief government officer, mentioned in a press launch.

 

“As we continued to execute on our strategic initiatives, earnings were higher than anticipated driven by better revenue results and gross margin expansion across all three of our luxury houses,” Idol added.

 

Gross revenue throughout This fall FY21 was $737 million ($631 million), whereas loss from the operations decreased to $139 million ($536 million). The corporate’s e-commerce gross sales improved sequentially 80 per cent (roughly).

 

Throughout the quarter, gross sales of Versace grew 10.3 per cent to $235 million ($213 million), whereas Jimmy Choo gross sales rose 15.9 per cent to $124 million ($107 million). Nevertheless, gross sales of Michael Kors fell 3.9 per cent to $838 million ($872 million).

 

“Looking forward, we remain optimistic about the outlook for the fashion luxury industry and Capri Holdings. As the world starts 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 position Capri Holdings to deliver multiple years of revenue and earnings growth, as well as increase shareholder value,” Idol concluded within the launch.

Fibre2Fashion Information Desk (JL)

Capri Holdings Restricted, a US-based world style luxurious group, has reported that its income remained flat at $1.2 billion within the fourth quarter (This fall) of fiscal 2021 ended on March 27, 2021, in comparison with the corresponding quarter of earlier fiscal. The corporate’s internet loss for reported interval decreased to $182 million (This fall FY20: $552 million).





Source link

Most Popular