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Apr 02, 2022
Capri Q4 2022 Earnings Report
Capri achieved record revenue, gross margin, and EPS, driven by strong performance across all luxury houses.
Key Takeaways
Capri Holdings Limited reported a strong fourth quarter and full year fiscal 2022, achieving the highest revenue, gross margin, and earnings per share in the company's history. Total revenue increased by 24.6% to $1.492 billion, and adjusted earnings per share reached $1.02.
Revenue increased 24.6%, with better than anticipated results across all three luxury houses
Adjusted gross margin expanded 20 basis points versus prior year
Adjusted operating margin expansion of 230 basis points to 14.2%
Adjusted earnings per share of $1.02
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
Capri Holdings expects total revenue of approximately $5.95 billion for fiscal year 2023, an increase of approximately 5% versus prior year on a reported basis and approximately 10% in constant currency. Diluted earnings per share are expected to be approximately $6.85.
Positive Outlook
- Total revenue of approximately $5.95 billion, increasing approximately 5% versus prior year on a reported basis and approximately 10% in constant currency
- Gross margin approximately flat to fiscal year 2022, reflecting benefits from strategic initiatives offset by higher transportation and input costs
- Operating margin of approximately 18%
- Net interest income of approximately $35 million
- Effective tax rate of approximately 11%
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, including 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
- Versace expects operating margin of approximately 16%
- Jimmy Choo expects operating margin of approximately 5%
- Michael Kors expects operating margin of approximately 24%
Revenue & Expenses
Visualization of income flow from segment revenue to net income