2023-05-31 07:07:04 ET
Capri Holdings ( NYSE: CPRI ) reported revenue decreased 10.5% to $1.34B on a reported basis in Q4 and was down 3.0% on a 52-week constant currency basis.
Versace revenue fell 13.0% to $274M. On a constant currency basis, Versace revenue decreased 8.6%.
Jimmy Choo revenue dropped 3.2% to $151M. On a constant currency basis, Jimmy Choo revenue increased 5.6%.
Michael Kors declined 10.9% to $910M. On a constant currency basis, Michael Kors revenue decreased 2.2%.
Capri's adjusted gross profit was $863M for the quarter, which was 64.6% of sales vs. 63.7% a year ago. Adjusted income from operations was $121M and operating margin was 9.1% vs. 14.2% a year ago.
Net inventory at the end of the quarter was down 3.6% to $1.057B.
CEO update: "We achieved several milestones in fiscal 2023, including record revenue at Versace and Jimmy Choo as well as mid-single-digit revenue growth at Michael Kors. Additionally, we generated strong free cash flow and returned $1.35 billion to shareholders. These results demonstrate the power of our business model, the strength of our luxury houses and the execution of our strategic initiatives."
Looking ahead, Capri Holdings ( CPRI ) expects full-year revenue of ~$5.7B vs. $5.73B consensus and EPS of $6.40 vs. $6.28 consensus.
Shares of Capri Holdings ( CPRI ) gained 3.55% in premarket trading to $41.01.
More on Capri Holdings
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- Relative strength index and moving averages
- Seeking Alpha's Quant Rating for Capri Holdings
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