Salem Radio Network News Thursday, September 23, 2021

Business

Michael Kors, Versace parent Capri beats revenue estimates

Michael Kors parent Capri Holdings Ltd beat Wall Street estimates for first-quarter revenue on Friday, as shoppers in China and the United States splurged on its high-end clothes and purses.

Revenue rose to $1.25 billion in the first quarter ended June 26 from $451 million a year earlier, the Versace and Jimmy Choo owner said. Analysts on average had expected $1.12 billion, according to IBES data from Refinitiv.

(Reporting by Mehr Bedi in Bengaluru; Editing by Sriraj Kalluvila)

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