Capri Holdings Slips To Loss In Q4, Does Not Provide FY21 Outlook - Quick Facts

(RTTNews) - Global fashion luxury group Capri Holdings Ltd. (CPRI) reported Wednesday a net loss of $551 million or $3.69 per share, compared to net income of $19 million or $0.13 per share in the prior-year quarter. Adjusted net income was $16 million, or $0.11 per share, compared to $95 million or $0.63 per share in the year-ago quarter.

Total revenue for the quarter decreased 11.3 percent of $1.2 billion from last year. On a constant currency basis, total revenue decreased 11.0 percent.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.14 per share on revenues of 1.12 billion for the quarter. Analysts' estimates typically exclude special items.

Looking ahead, the company said it is not providing guidance for its fiscal year 2021, due to the lack of visibility surrounding the pandemic, macroeconomic fundamentals and tourism, the impacts on its financial and operating results cannot reasonably be estimated at this time.

The company added that while it expects fiscal 2021 to be significantly impacted by the effects of the virus, it is encouraged as it reopened stores globally with initial revenue exceeding expectations. It remains confident in the long-term opportunities for each of its unique luxury brands and believes Capri Holdings is poised to resume its growth trajectory in fiscal 2022.