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Markets News

Michael Kors owner Capri beats quarterly revenue estimates

Nov 5 (Reuters) - Michael Kors owner Capri Holdings Ltd beat quarterly revenue estimates on Thursday, buoyed by strong demand for its luxury apparel and accessories in China and surging online sales.

Total revenue fell to $1.11 billion in the second quarter ended Sept. 26 from $1.44 billion a year earlier, due to a drop in retail demand, but beat analysts’ expectations of $924.9 million, according to IBES data from Refinitiv.

Reporting by Aditi Sebastian and Uday Sampath in Bengaluru; Editing by Shinjini Ganguli

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