The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

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.

In This Article

Topics

Retail

People

Michael Kors

Organisations

Location

New York, United States

Brands Owed Millions After Matchesfashion Collapse

Designer brands including Gucci and Anya Hindmarch have been left millions of pounds out of pocket and some customers will not get refunds after the online fashion site collapsed owing more than £210m last month.

US Sues to Block $8.5 Billion Union of Coach, Michael Kors

Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.

Op-Ed | How Long Can Adidas Surf the ‘Terrace’ Trend?

As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.

How Rent the Runway Came Back From the Brink

The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.