Capri Holdings: Fiscal 2Q Earnings Snapshot
LONDON (AP) _ Capri Holdings Limited (CPRI) on Wednesday reported fiscal second-quarter earnings of $73 million.
On a per-share basis, the London-based company said it had net income of 47 cents. Earnings, adjusted for asset impairment costs and non-recurring costs, were $1.16 per share.
The results missed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.25 per share.
The luxury retailer posted revenue of $1.44 billion in the period, also falling short of Street forecasts. Six analysts surveyed by Zacks expected $1.45 billion.
For the current quarter ending in January, Capri Holdings expects its per-share earnings to range from $1.55 to $1.60.
The company said it expects revenue in the range of $1.53 billion for the fiscal third quarter.
Capri Holdings expects full-year earnings to be $4.95 per share, with revenue expected to be $5.8 billion.
Capri Holdings shares have declined 10% since the beginning of the year. The stock has decreased 42% in the last 12 months.