AP NEWS
Related topics

Capri Holdings: Fiscal 2Q Earnings Snapshot

November 6, 2019 GMT

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.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CPRI at https://www.zacks.com/ap/CPRI