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Capri Holdings reveals its first quarter 2021 financial results

Capri Holdings reveals its first quarter 2021 financial results

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Capri Holdings, the parent company of Versace, Jimmy Choo and Michael Kors, has announced its turnover for the first three months of 2021 as well as its full year sales for 2020 and 2021. The company expects sales to grow steadily over the remainder of the year as buyer demand in the luxury goods sector increases, particularly in the US.

 

A subdued start to the 2021 financial year

 

Capri Holdings has made a rather stable start to the year according to figures, despite the closure of 60% of its shops in the EMEA region (Europe Middle-East Africa). The company’s turnover for the first quarter of 2021 was $1.197 billion, above analysts’ expectations, as reported by StreetInsider. In comparison, it had reached the sum of 1.192 billion dollars, during the first three months of 2020. The luxury goods group thus achieved a gross profit increase of 737 million dollars, which can be explained in particular by the improvement in e-commerce.

 

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Featured photo : © Capri Holdings

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