Capri Q1 2023 Earnings Report
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
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