The Business of Fashion

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Capri Holdings Beats Quarterly Revenue Estimates

The Michael Kors owner's total revenue fell to $1.11 billion in the second quarter from $1.44 billion a year earlier.

Michael Kors store | Source: Shutterstock

Reuters

05 November 2020

NEW YORK, United States — Michael Kors owner Capri Holdings Ltd beat quarterly revenue estimates on Thursday, buoyed by strong demand for its luxury apparel and accessories in China and surging online sales.

Total revenue fell to $1.11 billion in the second quarter ended September 26 from $1.44 billion a year earlier, due to a drop in retail demand, but beat analysts' expectations of $924.9 million, according to IBES data from Refinitiv.

By Aditi Sebastian and Uday Sampath; editor: Shinjini Ganguli.

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Michael Kors

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New York, United States

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