Michael Kors’ owner grows 11% but shrinks benefit 8% in 2018

Michael Kors’ owner closes 2018 at double-speed. Capri, also owner of Jimmy Choo and Versace, has finished the last exercise with a setback of 8% in its net benefit, until 542 million dollars (484.4 million euros). The group’s result has been affected by the purchase of Versace, which was concluded on last December.

The gross operating result (ebitda) of the company has also positioned downwards in 2018, with a drop of a 16.3%, until 621 million dollars (555.4 million euros). Capri’s volume of business, for its part, has positioned in 5,238 million dollars (4,685 million euros), a 10.9% more.

By brands, Jimmy Choo has been the one registering a better evolution within the period, duplicating its incomes until 590 million dollars (527.7 million euros). Michael Kors’ sales, instead, have stalled in 2018, registering a growth of only the 0.33%, until 4,511 million dollars (4,034.7 million euros). Versace, for its part, has registered sales worth 137 million dollars (122.5 million euros).

Capri has widened its store network during the exercise. At the closure of the exercise, the group had 1,249 establishments worldwide, 238 more. In parallel, the company, world’s number nine by volume of business, has announced its previsions for 2020, which go through reaching a billing of 6,000 million dollars (5,366.5 million euros).