Sector • Consumer Discretionary Industry • Apparel, Footwear & Accessories |
Industry • Apparel, Footwear & Accessories |
Sector • Consumer Discretionary |
Capri Holdings Ltd Faces Slip in Profit Amidst Weak Sales for Q1 2023
Capri Holdings Ltd delivered fourth quarter of 2023 operating shortfall of $-40 million
Published May 31 2023 / Modified May 31 2023
CSIMarket Team / CSIMarket.com
The company reported a significant shortage of $-0.28 per share, compared to earnings of $2.11 a year prior.
Furthermore, the revenue decreased considerably by -17.029%, translating to $1.34 billion from $1.61 billion in the corresponding financial reporting period a year prior.
Sequentially, Capri Holdings Ltd reported an -11.706% downfall in revenue compared to the previous financial reporting period.
The net shortage of $-33.000 million for the February to April 01 2023 compared to net proceeds of $323.000 million in the corresponding financial reporting period a year before will likely affect the company's financial stability in the short term.
Despite the unfavorable results, Capri Holdings Ltd managed to announce net earnings of $619.00 million and revenue of $5.62 billion over the fiscal 12 Months 2023.
While the profits per share fell by -14.66% to $4.60 per share from $5.39 in the previous fiscal 12 Months, the company reported a -0.62% decrease in revenue from $5.65 billion a year prior.
These financial outcomes suggest that Capri Holdings Ltd has experienced a slowdown in growth, which could have been caused by increased competition or a lack of new products or services.
However, the company's history of financial stability and excellent brand reputation could enable them to overcome the short-term challenges.
Going forward, Capri Holdings Ltd needs to improve its revenue and earnings to continue building a sustainable business.
While the company is expected to report next financial results on August 08, 2023, much needs to be done in terms of restructuring and repositioning for long-term success.
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Other CPRI's news
Capri Holdings Ltd Unveils Surprising Q3 Results: Revenue Shrinks by -5.622% in 2024
Capri Holdings Ltd Faces Sliding EPS and Weak Demand in Fiscal Year 2023
Capri Holdings Ltd*s Q2 Earnings Decline Amidst Weak May-July 01 2023 Revenue
Deficit on Weak Sales in the February to April 01 2023 period
Solid rise at the company in the October to December 31 2022 three months
A remarkable execution by CPRI in the financial time-frame ending December 25 2021