Capri Holdings Ltd. (CPRI) stock prices stayed stable as of the market closing on July 27th, 2021, with the price per share staying at USD$55.05 at the end of the trading day. Subsequent premarket fluctuations saw the stock drop by 8.89%, bringing it down to USD$54.50.
Q1 2022 Total Revenues
Total revenues for the first quarter of fiscal 2022 were reported at USD$1.25 billion, a significant increase of 178% from the numbers reported for the prior-year quarter. On a constant currency basis, total revenues were up 164%.
Gross Profit Reports
CPRI stock reported a gross profit in the amount of USD$856 million, with a gross margin coming out to 68.3% for Q1 2022. This is comparable to the USD$302 million gross profit and 67% gross margin for the first quarter of fiscal 2021. Adjusted gross profit was USD$853 million while adjusted gross margin was USD$68.1% as compared to USD$303 million in gross profit and 67.2% gross profit in the prior-year quarter.
CPRI Stock Operating Income and Loss
The first quarter of fiscal 2022 saw CPRI stock report income from operations in the amount of USD$258 million, a massive increase on the loss from operations of USD$162 million in the prior-year quarter. Operating margin for the 2022 quarter came out to 20.8%, up from the operating margin of negative 32.6% in the prior-year quarter. CPRI stock reported net inventory in the amount of USD$760 million for the first quarter of fiscal 2022, a 20% reduction from numbers reported in the prior-year quarter.
Q1 2021 Net Income Reports
Net income for Q1 2022 came in at USD$219 million, up from the net loss of USD$180 million from the first quarter of fiscal 2021. This comes out to a net income of USD$1.41 per diluted share for the 2022 quarter, up from a net loss of USD$1.21 in the 2021 quarter. Adjusted net income was USD$221 million, representing an adjusted net income of USD$1.42 per diluted share. This is comparable to a net loss of USD$156 million in the prior-year quarter, which represented a net loss of USD$1.04 per share.
Future Outlook for CPRI
Armed with the massive success of its most recent financial quarter, CPRI stock is poised to continue its stellar start to the fiscal 2022 year. The company is keen to maintain this level of growth, thereby creating a snowball effect of investor confidence. Investors are confident in the management’s ability to facilitate organic growth over the long term as the global economy heads towards pre-pandemic levels.
