Few sectors can affirm that they have not noticed the effects of the inflation in the exercises of his results. One of them, is the luxury. The goods of consumption focused in this sector remain without seeing affected by the high inflation; in the case of Capri Holdings, owner of Michael Kors, informed the past Tuesday that have surpassed the marked numbers regarding income and gains in this last quarter.
As it aimed Reuters, the increase of prices has not had a so notorious impact in those homes where the incomes are half-high, thanks to the savings that accumulated during the pandemic, and this, is one of the factors that now can spend what in his day decided to save.
Capri, that aspires to obtain until 8000 million dollars in income in the fiscal year 2023, has increased 8,5% in the quarter. This figure reached the 1360 million dollars, number that has surpassed to the that the analysts handled: according to data of IBES of Refinitiv, the income to date of 2 July for the company had to reach the 1290 million dollars.
Capri, to the equal that the group LVMH, Jimmy Choo or Versace, has had problems of turnover in Asia, and still with this problem, the company has surpassed his expectations and has not reflected any alteration in the global result. On the Asian continent, revenues fell by more than 16% due to new confinements and containment measures to try to curb the Covid-19, especially by China.
The owner of Michael Kors, Versace and Jimmy Choo, does scarce two weeks announced to his investors in the board of shareholders that foresee to reach a profit of 6,85 dollars by action. Besides, the group informed that has foreseen to open 42 new shops all over the world during the fiscal exercise of 2023: 20 of them they will be of Michael Kors, 6 of Jimmy Choo and 16 of Versace.