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Why Capri Holdings Stock Jumped 23.2% This Week

TheMotleyFool

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Why Capri Holdings Stock Jumped 23.2% This WeekPhoto, wide shot, wide-angle lens, Department store, sunset photo at golden hour, photo by Art Wolfe: https://img.midjourneyapi.xyz/temp/57f223bf-67a0-476b-94dd-76010fccb266.png

Shares of Capri Holdings (NYSE: CPRI) jumped 23.2% this week after the company reported great earnings for the third quarter, according to data from S&P Global Market Intelligence. The luxury fashion group, which owns Versace, Jimmy Choo, and Michael Kors, beat the consensus estimates from Wall Street on adjusted earnings per share (EPS) and revenue.

On Nov. 3, Capri Holdings released its financial results for the third quarter ending in September. Revenue increased 17% to $1.3 billion, and adjusted EPS came in at $1.53. Both numbers beat the consensus analyst estimates for the company, which is likely why the stock is up so much this week.

Image source: Getty Images.

Source Fool.com

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