Capri Holdings (NYSE: CPRI) 4Q19 Results: Strong Revenue Growth Driven by Versace and Jimmy Choo

Key Points

• Capri Holdings reported 4Q19 adjusted EPS of $0.63, slightly above the $0.61 consensus estimate. 4Q revenues increased 13.6% to $1.34 billion on a reported basis, driven by strong sales in Versace (acquired on December 31, 2018) and Jimmy Choo, and exceeding the $1.33 billion estimate.
• By brand, Michael Kors revenues declined 0.4% to $1.07 billion; Jimmy Choo revenues rose 28.7% to $139 million; and, Versace revenues were $137 million.
• For FY20, the company expects net revenues to reach $6.0 billion with an operating margin of around 15.5%. The company forecasts 1Q20 revenues of around $1.36 billion.