Benzinga | May 26, 2021 06:51AM EDT

Capri Holdings Sees Sees Q1 EPS $0.75 vs $0.55 Est., Sales $1.1B vs $1.01B Est. Sees FY22 EPS $3.70-$3.80 vs $3.72 Est., Sales $5.1B vs $4.99B Est.

Fiscal Year 2022 Outlook

For Capri Holdings, the Company expects the following.

* Total revenue of approximately $5.1 billion

* Gross margin expansion of approximately 50 basis points, reflecting benefits from strategic initiatives, partially offset by higher transportation costs

* Operating margin of approximately 14%

* Net interest expense of approximately $20 million

* Effective tax rate of approximately 15%

* Weighted average diluted shares outstanding of approximately 156 million

* Diluted earnings per share of approximately $3.70 to $3.80

* Capital expenditures of approximately $200 million First Quarter Fiscal 2022 Outlook For Capri Holdings, the Company expects the following. Total revenue of approximately $1.1 billion Gross margin contraction of approximately 100 basis points, primarily due to higher wholesale channel mix Operating margin of approximately 12% Net interest expense of approximately $5 million Effective tax rate of approximately 9% Weighted average diluted shares outstanding of approximately 155 million Diluted earnings per share of approximately $0.75 Second Quarter Fiscal 2022 Outlook For Capri Holdings, the Company expects the following. Total revenue of approximately $1.2 billion Operating margin of approximately 11% Diluted earnings per share of approximately $0.70-$0.75 Third Quarter Fiscal 2022 Outlook For Capri Holdings, the Company expects the following. Total revenue of approximately $1.4 billion Operating margin of approximately 20% Diluted earnings per share of approximately $1.65-$1.70 Fourth Quarter Fiscal 2022 Outlook For Capri Holdings, the Company expects the following. Total revenue of approximately $1.4 billion Operating margin of approximately 12% Diluted earnings per share of approximately $0.55-$0.60