Why Capri Holdings Stock Jumped Wednesday

Shares of Capri Holdings (NYSE: CPRI) soared at the open Wednesday morning after the luxury goods retailer reported its fiscal 2022 second-quarter earnings. As of 10:25 a.m. EDT today, shares were up 12.8%. 

The parent company of the Michael Kors, Versace, and Jimmy Choo brands said the results beat its expectations, with revenue growth of 17% and strength across all three luxury brands. CEO John Idol summed up the quarter saying, "We are pleased with our second quarter results with revenue, gross margin, operating margin, and earnings per share all exceeding our expectations."

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Source Fool.com