The global luxury fashion group, Capri Holdings Limited, announced its financial results for the second quarter of fiscal 2020 ended September 28, 2019.
By Luxus Plus
Capri Holdings Limited consists mainly of Michael Kors, Versace and Jimmy Choo.
“For the second quarter, we were pleased to record double-digit revenue growth, thanks to the addition of Versace and the growth of Jimmy Choo. Michael Kors’ revenues were in line with our expectations and we are extremely pleased to report that the brand returned to positive same-store sales during the quarter, thanks to our successful efforts in product innovation, brand commitment and customer experience” said John D. Idol, Chairman and CEO of Capri Holdings Limited.
The group’s results and prospects
The group’s sales increased by 15.1% in the second quarter and its adjusted earnings per share is $1.16. More specifically, the results for the second quarter of fiscal 2020 generated total revenues of $1.442 billion. At constant exchange rates, total revenue increased by 16.1%. Gross profit was $874 million and gross margin was 60.6%, compared to $763 million and 60.9% last year.
For fiscal 2020, the objective is to reiterate revenue revenue of $5.8 billion and adjusted earnings per share of $4.95.
Michael Kors owner of Capri Holdings Limited Group
Michael Kors’ revenues were $1.089 billion, down 4.2% from the previous year. At constant exchange rates, total revenue decreased by 3.3%. At constant exchange rates, same-store sales increased to single-digit levels. Michael Kors’ operating income was $222 million and his operating margin was 20.4%.
Jimmy Choo, is lagging behind despite an 8% increase
Jimmy Choo’s revenues were $125 million, up 7.8% from the previous year. At constant exchange rates, total revenue increased by 9.5%. Jimmy Choo’s operating loss was $10 million and the operating margin was 8.0%.
Versace, the last new member of the group
Versace’s revenues amounted to $228 million and same-store sales remained stable at constant currency compared to last year’s self-sustaining results. Versace’s operating income was $9 million and its operating margin was 3.9%.