The parent company to Michael Kors, Versace and Jimmy Choo managed to do more with much less inventory.
While the company’s inventory position was not what Idol had hoped for going into the holidays, he said goods had been flown in to get them to market more quickly and that supply was sufficient.
Capri ended the quarter with inventories down 24 percent, including what the company said was a “significant increase in in-transit inventory.”But each of the company’s businesses pushed ahead in the quarter. posted a 29 percent increase in revenue to $251 million with operating income of $32 million. ’s revenues jumped 47 percent to $178 million, driving operating income of $16 million.
“We are raising fiscal 2022 revenue and earnings guidance based on the strength across all our luxury houses. Looking to fiscal 2023, we expect to generate double-digit revenue and earnings growth,” Idol said. “This outlook reflects the success of our ongoing strategic initiatives as well as a continued recovery from the global pandemic. Longer term, the power of
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