Capri Holdings Ltd. stock CPRI, -0.17% slid 3% in premarket trading Wednesday, after the parent of Michael Kors, Versace and Jimmy Choo missed revenue estimates for its fiscal second quarter and offered slightly soft guidance. Capri had net income of $224 million, or $1.63 a share, in the quarter to Oct. 1, up from $200 million, or $1.30 a share, in the year-earlier period. Adjusted per-share earnings came to $1.79, ahead of the $1.55 FactSet consensus. Revenue rose to $1.412 billion from $1.
"Looking at the remainder of Fiscal 2023, we are now taking a more cautious view with our revenue outlook due to an increasingly uncertain macroeconomic environment, foreign currency headwinds and the ongoing impact of COVID related restrictions in China," Chief Executive John Idol said in a statement. However, the company is sticking with its fiscal 2023 EPS guidance, and expects higher gross margins and reduced share count.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
We're increasing price targets on 3 of our stocks, including 2 crushing the boarder marketFollowing our price target changes on eight Club holdings last month, we're updating three more Tuesday. Democrats who use 2 Diesel heating oil for their homes might want to switch their votes from 🔵 to red 🔴 so they don't freeze this winter. Biden's cutting of fossil fuels includes zero 2 Diesel oil for heating everyones homes...
Source: CNBC - 🏆 12. / 72 Read more »
Crypto Exchanges Scramble to Compile 'Proof-of-Reserves' as FTX Contagion Grips MarketsIn the past 24 hours, seven exchanges – Binance, Gate_io, KuCoincom, Poloniex, BitgetGlobal, HuobiGlobal and OKX – issued statements that they would publish their Merkle tree reserve certificates to increase transparency. By shauryamalwa binance gate_io kucoincom Poloniex bitgetglobal HuobiGlobal okx shauryamalwa 清一色华人的交易所😂 binance gate_io kucoincom Poloniex bitgetglobal HuobiGlobal okx shauryamalwa More of this is needed in the Crypto space right now, stay SAFU everyone. binance gate_io kucoincom Poloniex bitgetglobal HuobiGlobal okx shauryamalwa Nexo?
Source: CoinDesk - 🏆 291. / 63 Read more »