Shares of Capri Holdings (NYSE:CPRI) were gaining today after the Michael Kors parent delivered a better-than-expected second-quarter earnings report in spite of headwinds from the COVID-19 pandemic. Though revenue in the quarter fell sharply, the company still posted a solid adjusted profit for the period.
As of 11:17 a.m. EST, the stock was up 8.3%.
So what
Capri, which also owns Jimmy Choo and Versace, said revenue in the quarter declined 23% to $1.11 billion, which was well ahead of estimates at $924.