×
875
Fashion Jobs
DIESEL LONDON LTD
Keyholder
Permanent · DARTFORD
HUGO BOSS
E-Commerce Operations & Logistics Manager
Permanent · London
VF INTERNATIONAL
Senior Credit Controller - Multibrand
Permanent · CALVERTON
EASTPAK
Credit Team Leader - Eastpak
Permanent · CALVERTON
HUGO BOSS
Buyer Emea
Permanent · London
ESTÉE LAUDER
Aveda - Omni National Account & Operations Executive
Permanent · London
ESTÉE LAUDER
Demand Planner - Supply Chain
Permanent · London
ESTÉE LAUDER
Director, International Business Development (Maternity Cover)
Permanent · London
PAUL SMITH
International Sales Executive
Permanent · LONDON
EASTPAK
Sales Manager
Permanent · LONDON
NEW BALANCE
Category Merchandising Manager Emea, Running Footwear
Permanent · Warrington
CONFIDENTIEL
Warehouse Area Manager
Permanent ·
ESTÉE LAUDER
Clinique - Consultant - John Lewis, Liverpool - 26 Hours - Part Time, Permanent
Permanent · Liverpool
ESTÉE LAUDER
Clinique - Consultant - Boots-Aintree, Liverpool - 11 Hours - Part Time, Permanent
Permanent · Liverpool
ESTÉE LAUDER
Clinique - Consultant - Fenwick, Newcastle - 12 Hours - Part Time, Permanent
Permanent · Newcastle upon Tyne
ESTÉE LAUDER
Clinique - Consultant - Boots, Bishops Stortford - 7.5 Hours - Part-Time - Permanent
Permanent · Bishop's Stortford
ESTÉE LAUDER
Clinique - Consultant - Boots, st Davids Cardiff - 37.5 Hours - Full Time, Permanent
Permanent · Cardiff
ESTÉE LAUDER
Clinique - Consultant - Boots, Oracle Reading - 28 Hours - Part Time, Permanent
Permanent · Reading
ESTÉE LAUDER
Clinique - Consultant - Flannels, Sheffield Meadowhall - 22.5 Hours - Part Time, Permanent
Permanent · Sheffield
ESTÉE LAUDER
Clinique - Consultant - John Lewis, Cribbs Causeway - 37.5 Hours - Full Time, Permanent
Permanent · Bristol
ESTÉE LAUDER
Clinique - Consultant - Boots, st Davids Cardiff - 30 Hours - Full Time, Permanent
Permanent · Cardiff
ESTÉE LAUDER
Art Director
Permanent · London
By
Reuters
Published
May 26, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Michael Kors parent Capri expects upbeat full year as luxury demand rebounds

By
Reuters
Published
May 26, 2021

Capri Holdings Ltd on Wednesday forecast annual revenue and profit above analysts’ expectations, as shoppers return to stores in the United States following speedy vaccinations.


Michael Kors - Fall-Winter2020 - Womenswear - New York - © PixelFormula



The company said it would raise prices this fall and spring next year for Michael Kors, its biggest brand by sales that it planned to transform into a “smaller, more profitable business.”

The emphasis comes as the brand’s about 4% sales decline in the fourth quarter was in contrast to that at its Versace and Jimmy Choo businesses which grew 10% and 16%, respectively.

Chief Executive Officer John Idol said the company plans to further Michael Kors’s appeal as a more luxurious brand in North America with fewer promotional merchandise on shelves by curtailing the amount of supply.

Idol said the company expanded its database for the brand by 18% in the fourth quarter, adding “it also means that the price increases are not stopping that customer from crossing the line and purchasing products.”

Capri expects total revenue of about $5.1 billion for its fiscal 2022, higher than Wall Street projections of $4.99 billion, according to IBES data from Refinitiv.

Gross margin is expected to increase about 50 basis points, even as transportation costs increase.

The company has kept a tight control over inventory during the pandemic that has bolstered its gross margin.
Capri said e-commerce sales rose 80% in the fourth quarter, with retail sales rising 13%.

Bigger rivals LVMH, Hermes and Gucci-owner Kering have also benefited as traditionally reluctant luxury products sellers invest heavily to take advantage of the shift to selling online.

Fourth-quarter revenue of $1.20 billion beat estimates of $1.02 billion. On an adjusted basis, the company earned 38 cents per share, handily topping the estimate of 2 cents.

© Thomson Reuters 2021 All rights reserved.