Capri Holdings Ltd Q2 Profit Decreases, Misses Estimates

(RTTNews) - Capri Holdings Ltd (CPRI) released a profit for second quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings came in at $24 million, or $0.20 per share. This compares with $90 million, or $0.77 per share, in last year's second quarter.

Excluding items, Capri Holdings Ltd reported adjusted earnings of $77 million or $0.65 per share for the period.

Analysts on average had expected the company to earn $0.75 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 16.4% to $1.079 billion from $1.291 billion last year.

Capri Holdings Ltd earnings at a glance (GAAP) :

-Earnings (Q2): $24 Mln. vs. $90 Mln. last year. -EPS (Q2): $0.20 vs. $0.77 last year. -Revenue (Q2): $1.079 Bln vs. $1.291 Bln last year.