Fashion firm Capri Holdings expects fiscal 2022 revenue to be $5.15 bn

American luxury fashion group Capri Holdings Limited has announced that it expects fiscal 2022 revenue to be approximately $5.15 billion as compared to the previous expectation of $5.10 billion, primarily reflecting better than anticipated fiscal first quarter sales trends. It expects fiscal 2022 adjusted earnings per share to be between $3.80 and $3.90.

The company shared its updated guidance and a broader view of its vision, growth strategies and long-term outlook at its virtual investor day on Tuesday.

“As the world reopens, we are pleased to be seeing better than expected performance from all three of our iconic fashion luxury houses and are raising our outlook for the year,” said John D Idol, the company’s chairman and chief executive officer.

“With greater visibility into the path of the global economic recovery, we now have even more confidence in the future and believe our three luxury houses position Capri Holdings to deliver multiple years of strong revenue and earnings growth,” Idol added.

Further, for the fourth quarter (Q4) of fiscal 2021 that ended on March 27, 2021, Capri Holdings revenue remained flat at $1.2 billion compared to the corresponding quarter of previous fiscal. The company’s net loss for reported period reduced to $182 million (Q4 FY20: $552 million).