(Capri) Capri Holdings Limited reported revenue of $1.492 billion in the fourth quarter of 2022, rising from $1.197 billion in the prior year.
The company said that its revenues were above expectations in its three luxury houses in the fourth quarter. For FY22, Capri’s total revenue was $5.654 billion, higher than $4.060 billion in the prior year.
The company reported a net income of $81 million in the fourth quarter and $823 million in FY22. The income compares to a loss of $182 million in the fourth quarter of 2021 and a loss of $63 million in FY21.
Capri said that its operating margin was up by 230 basis points in the fourth quarter to 14.2%.
Following a robust quarter, Capri projects revenue of $1.30 billion in the first quarter of 2023. FY23 revenue is expected at $5.95 billion, up 5% from the prior year.
Adjusted EPS is expected at $1.35 in the first quarter of 2023 and at $6.85 in FY23. The earnings compares to an adjusted EPS of $1.02 in the fourth quarter of 2022.
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