Smarter News Now
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting
No Result
View All Result
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
No Result
View All Result
Smarter News Now
No Result
View All Result
Home Stock News

Capri posts smaller-than-expected loss boosted by online demand

by
August 5, 2020
in Stock News, Top News
0
Capri posts smaller-than-expected loss boosted by online demand
0
SHARES
13
VIEWS
Share on FacebookShare on Twitter
imageStock Markets42 minutes ago (Aug 05, 2020 07:15AM ET)

(C) Reuters. Michael Kors logo is seen in a shop in downtown Lisbon

(Reuters) – Michael Kors-owner Capri Holdings Ltd (N:CPRI) reported a smaller-than-expected quarterly loss on Wednesday, helped by higher online orders from consumers stuck indoors due the COVID-19 pandemic.

The company, which also owns Versace and Jimmy Choo brands, still reported a 66.5% fall in overall revenue as the health crisis forced store closures around the world and hammered demand for high-end handbags, apparel and accessories.

Despite a steep fall in revenue, Chief Executive Officer John Idol said sales and margin trends across the three brands were ahead of the company’s initial expectations, helped by e-commerce growth.

The company reported a net attributable loss of $180 million, or $1.21 per share, in the first quarter ended June 27, compared with a profit of $45 million, or 30 cents per share, a year earlier.

Excluding items, the company lost $1.04 per share, less than analysts’ expectation of a loss of $1.11 per share.

Total revenue fell to $451 million, but beat analysts’ average estimate of $424.5 million, according to IBES data from Refinitiv.

Capri posts smaller-than-expected loss boosted by online demand

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

ShareTweetPin

Related Posts

The New Canadian Business Is Here!
Editor's Pick

The New Canadian Business Is Here!

October 4, 2021
Editor's Pick

The New Canadian Business Is Here!

October 4, 2021
bose corp
Top News

Bose Stock: Advantages of Investing in the Modern Audio Business

July 13, 2021
HEB store
Top News

What Is the HEB Grocery Stock Price & Value?

July 7, 2021
OnlyFans logo
Top News

OnlyFans Stock: What Is the Point to Invest in Popular Adults Only Service?

July 6, 2021
what is IV crush
Top News

IV Crush: Why You Should Be Aware of a Volatility Crush

June 23, 2021
Next Post
CVS raises profit forecast as low medical costs boost health insurance unit

CVS raises profit forecast as low medical costs boost health insurance unit

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Email Address *
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
 

Recommended

Plunging U.S. GDP through June gives way to slow climb back in July

July 30, 2020
Trump’s Push to Reopen from Virus Repels Some Republican Supporters

Trump’s Push to Reopen from Virus Repels Some Republican Supporters

May 21, 2020
BSP likely to pause easing — poll

BSP likely to pause easing — poll

February 7, 2021
BSP may go for up to 50-bp hike — poll

BSP may go for up to 50-bp hike — poll

June 19, 2022
Commodity currencies fall as OPEC+ output cuts fail to allay demand anxiety

Commodity currencies fall as OPEC+ output cuts fail to allay demand anxiety

April 13, 2020
Iloilo City’s More sources 20-MW renewables from First Gen’s EDC

Iloilo City’s More sources 20-MW renewables from First Gen’s EDC

June 29, 2022
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting

Copyright © 2022 SmarterNewsNow.
All Rights Reserved.

Disclaimer: SmarterNewsNow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

No Result
View All Result
  • About Us
  • Contact Us
  • Email Whitelisting
  • Home
  • Privacy Policy
  • Terms & Conditions
  • Thank You

Copyright © 2020 SmarterNewsNow. All Rights Reserved.