Capri Holdings Just Lowered Its Quarterly Guidance, Again. Should Investors Be Worried?
Capri Holdings (NYSE: CPRI), which owns Versace, Jimmy Choo, and Michael Kors, reported record adjusted earnings per share in the second quarter of its fiscal 2023. That comes after it reported record earnings in the first quarter as well. But there's an underlying current that isn't quite so positive. Here's why you should be at least a little worried.
If you were doing a surface scan of Capri Holdings' financial results, you would have likely been impressed by its fiscal Q2 numbers. Revenues increased 8.6% year over year, and adjusted earnings hit a record $1.79 per share. Moreover, the company held firm to its full-year adjusted earnings target of $6.85 per share despite the headwinds of inflation and the possibility of economic weakness thanks to rising interest rates and geopolitical tensions.
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Source Fool.com
