Capri Hikes FY22 Guidance As Luxury Goods Demand Improves

Capri Holdings Ltd CPRI has raised its FY22 revenue and adjusted earnings per share guidance.
It raised the adjusted EPS outlook to $3.80-$3.90 from $3.70-$3.80 earlier, versus the consensus of $3.87.
The company expects a sales outlook of $5.15 billion from the previous guidance of $5.1 billion versus the consensus of $5.15 billion.
“With greater visibility into the path of the global economic recovery, we now have even more confidence in the future and believe our three luxury houses position Capri Holdings to deliver multiple years of strong revenue and earnings growth,” said CEO John D. Idol.
Price action: CPRI shares are trading higher by 0.39% at $54.4 in the after-hours session on the last check Tuesday.