Michael Kors parent Capri shares jump 3% premarket as earnings top estimates

Dow Jones2021-05-26

MW Michael Kors parent Capri shares jump 3% premarket as earnings top estimates

Shares of Capri Holdings Ltd. (CPRI), parent of the Michael Kors, Versace and Jimmy Choo brands, jumped 3% in premarket trade Wednesday, after the company blew past earnings estimates for its fiscal fourth quarter and offered upbeat guidance. The company said it narrowed its net loss to $183 million, or $1.21 a share, in the quarter, from $551 million, or $3.69 a share, in the year-earlier period. Adjusted per-share earnings came to 38 cents, well ahead of the 2 cents FactSet consensus. Revenue was flat at $1.2 billion, but ahead of the $1.0 billion FactSet consensus. Michael Kors revenue fell 3.9% to $838 million, while Versace revenue rose 10.3% to $235 million and Jimmy Choo revenue rose 15.9% to $124 million. The company is now expecting fiscal 2022 EPS of $3.70 to $3.80 and revenue of $5.1 billion. The FactSet consensus is for EPS of $3.74 on revenue of $4.9 billion. Shares have gained 26% in the year to date, while the S&P 500 has gained 11.5%.

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Comments

burdess
2021-05-26
burdess
like n comment pls [Smile]
- HuatAh2021:
  Yeah
- EMforever:
  done
TohKokMeng79
2021-05-26
TohKokMeng79
Brand
- 璇瑤:
  Coins

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(CPRI), parent of the Michael Kors, Versace and Jimmy Choo brands, jumped 3% in premarket ...</p>\n\n<a href=\"None\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CPRI","symbol_name":"Capri Holdings Ltd","start_time":0,"source_url":null,"article_id":"2138114184","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2138114184","pubTimestamp":1622026980,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"MW Michael Kors parent Capri shares jump 3% premarket as earnings top estimates\nShares of Capri Hold","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"CPRI":"Capri Holdings Ltd"},"translate_title":"Michael Kors母公司Capri股价盘前暴涨3%，盈利高于预期","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CPRI":0.9,"KORS":0.9},"content_text":"MW Michael Kors parent Capri shares jump 3% premarket as earnings top estimates\nShares of Capri Holdings Ltd. 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