EconomyMarkets

Versace Owner Capri Rises Steadily as Growth Expected to Return By Investing.com

© Reuters.

By Christiana Sciaudone

Investing.com — Capri Holdings (NYSE:), aka Versace and Michael Kors, jumped more than 15% Thursday after saying sales have improved through August. 

The maker of Jimmy Choo shoes expects revenue to drop 35% in fiscal 2021 from a year earlier, to $3.6 billion, and then almost double. The company did not specify when that level might be reached.

Capri intends to close 139 Michael Kors stores and open 168 Jimmy Choo and Versace retail locations, the company said in a presentation at the Goldman Sachs (NYSE:) Retail Conference.

Shares have two buy ratings, seven holds and no sells. The stock is down by about half since the start of the year.

Capri beat expectations last month when it reported a quarterly loss per share of $1.04 versus the expected loss of $1.16.

 

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Source link

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close