Shares of luxury goods company Capri Holdings (NYSE: CPRI) are bucking the broader market trend and have raced to a 31% gain over the past quarter.

Capri is the parent company of a trio of luxury brands: Versace, Jimmy Choo, and Michael Kors. The company reported strong second-quarter results in which revenue increased 9% year over year (and 18% on a constant-currency basis). Capri brushed aside economic challenges to post record adjusted earnings per share of $1.79.

While the stock has been on fire during the latter part of 2022, the good news for investors is that it's not too late to buy in. Here's why. 

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Source Fool.com