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Jul 02, 2022
Capri Q1 2023 Earnings Report
Achieved record first quarter revenue and adjusted earnings per share.
Key Takeaways
Capri Holdings Limited reported strong first quarter fiscal 2023 results, with revenue increasing 8.5% to $1.36 billion and adjusted earnings per share reaching $1.50, exceeding expectations due to strong momentum across all three luxury houses.
Revenue increased 8.5% on a reported basis and 15.2% in constant currency, with better than anticipated results across all three luxury houses
Adjusted operating margin of 18.5%
Adjusted earnings per share of $1.50
Company repurchased approximately 6.1 million ordinary shares for approximately $300 million
Capri
Capri
Capri Revenue by Segment
Capri Revenue by Geographic Location
Revenue by Segment
Michael Kors Revenue
CapyFin.comJimmy Choo Revenue
CapyFin.comRevenue by Geographic Location
Americas Revenue
CapyFin.comEMEA Revenue
CapyFin.comAsia Revenue
CapyFin.com Forward Guidance
The Company expects total revenue of approximately $1.4 billion and diluted earnings per share of approximately $1.55 for the second quarter of fiscal year 2023.
Positive Outlook
- Total revenue of approximately $5.85 billion for fiscal year 2023
- Gross margin approximately flat to fiscal 2022
- Operating margin of approximately 18% for fiscal year 2023
- Diluted earnings per share of approximately $6.85 for fiscal year 2023
- Total revenue of approximately $1.4 billion for the second quarter of fiscal year 2023
Challenges Ahead
- Financial results could differ materially from the current outlook due to a number of external events which are not reflected in our guidance
- Any significant additional store closures or new government restrictions that could further impact traffic and sales trends
- Any greater supply chain disruptions that could further extend inventory delays or increase transportation expenses
- Operating margin of approximately 17% for the second quarter of fiscal year 2023
- Ending inventory to be below prior year
Revenue & Expenses
Visualization of income flow from segment revenue to net income