Estimates have been raised, and the new forecast are going up, mostly driven by Versace. In fact, Capri Holdings are seemingly starting to take advantage of the acquisition of the Italian brand, whose buyout price was 2 billion dollars. At the end of the third quarter of the year the group’s revenues turned out to be steady, as they amounted to 1.44 billion dollars. On the one hand, Michael Kors brand slightly slowed down, -1% (their overall turnover reached 838 million dollars), and downturn was more remarkable, -8%, in the wholesale business (394.9 million dollars); on the other hand, Jimmy Choo has achieved a very good performance. In fact, the turnover of the footwear brand reached 161.6 million dollars, therefore increasing by 5% compared to last year. Operating profits amounted to 5.5 million dollars. Both positive and negative accomplishments, which are bound to affect the last quarter as well, are closely related to the group’s reorganization following such an important buyout carried out by the holding. For the records, they raised the estimates of 2019 revenues up to 5.22 billion dollars, 9 million dollars more compared to the previous forecast. Earnings coming from Versace will account for around 130 million dollars.
A few figures about Capri Holdings: quarterly revenues go steady, Kors slow down, Jimmy Choo do great. Yearly estimates go up
